Building constructions declined in January 2025 from a year ago, but grew in terms of value and size, data from the Philippine Statistics Authority (PSA) showed Friday.
The PSA reported 12,526 construction projects from approved building permits in January 2025, a 14.6-percent decrease from 14,665 recorded in January 2024. This followed a 5.0-percent drop in December 2024.
Residential buildings accounted for the largest share, with 7,671 projects, or 61.2 percent of the total. This went down by 14.1-percent from 8,931 projects in January 2024. Single-type houses comprised the majority of residential construction, with 6,863 projects, or 89.5 percent.
Non-residential construction was the second-largest category, with 3,138 projects, or 25.1 percent of the total. This sector declined by 4.3 percent annually. Commercial buildings accounted for the majority of non-residential construction, with 2,288 projects, or 72.9 percent.
Additions, which increase the height or area of existing buildings, alterations and repairs, and other construction projects, accounted for 3.7 percent, 7.8 percent, and 2.2 percent of the total, respectively.
The total value of construction projects in January 2025 reached P48.58 billion, up by 26.1 percent from P38.52 billion in January 2024.
Non-residential building constructions, valued at P24.16 billion, accounted for 49.7 percent and grew 40.4 percent from P17.21 billion in January 2024.
Residential building construction was valued at P20.94 billion, or 43.1 percent of the total. This went up by 28 percent from P16.35 billion in January 2024.
The total floor area of construction projects in January 2025 was 3.72 million square meters, excluding alterations and repairs, certain non-residential projects and other construction projects that lack reported floor area. This increased 29.5 percent increase from 2.87 million sq. m. in January 2024.
Non-residential construction accounted for 2.22 million square meters, or 59.7 percent of the total floor area, and represented a 52-percent expansion.
Residential construction accounted for 1.45 million square meters, or 39.0 percent of the total floor area, increasing 8.1 percent year-on-year.
The average cost of construction in January 2025 was P12,208.10 per sq. m., a 4.5-percent increase from P11,680.03 per sq. m. in January 2024.