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Building constructions up 114% in 2nd quarter

The number of permits issued for building construction jumped 114 percent in the second quarter to 38,389 permits from 17,932 issued in the same period last year, data from the Philippine Statistics Authority show. It also increased 4.7 percent from 36,621 permits issued in the first quarter.

Residential constructions in the second quarter accounted for 27,375 or 71.3 percent of the total number of constructions, rising 102.8 percent from a year ago. Non-residential constructions posted an increase of 119.2 percent from the previous year.

The PSA said the total value of constructions reached P84.36 billion in the second quarter, up by 194.3 percent from a year ago. Residential building constructions, valued at P43.79 billion, accounted for 51.9 percent of the total and expanded by 209.5 percent from P14.15 billion a year earlier.

The value of non-residential constructions amounted to P32.83 billion, up by 146.5 percent from P13.32 billion in the same quarter last year.

CALABARZON had the highest cost of building construction at P20.09 billion, followed by the National Capital Region with P16.56 billion and Ilocos Region with P9.97 billion.

Topics: Philippine Statistics Authority , building constructions
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