The region’s total number of constructions increased by 5.4 percent, from 1,299 constructions recorded in the 1st quarter of 2021 to 1,369 constructions in the same quarter in 2022.
The number of non-residential building constructions went up by 26.0 percent, from 262 constructions in the 1st quarter of 2021 to 330 constructions in the same period in 2022. Combined number of additions/alterations and repair of buildings increased by 21.0 percent, posting 150 constructions in the 1st quarter of 2022 from 124 constructions in the 1st quarter of 2021.
On the other hand, the number of residential building constructions declined from 913 constructions in the 1st quarter of 2021 to 889 constructions during the quarter in review, a slight decrease of -2.6 percent.
The number of residential buildings comprised more than three-fifths or 64.9 percent of the total constructions in the region, while non-residential buildings and additions/alterations and repairs accounted for 24.1 percent and 11.0 percent, respectively.
The total value of constructions in the region during the 1st quarter of 2022 was estimated at P 2.7 billion. This figure is 23.6 percent higher than the P 2.1 billion total value of constructions in the same quarter of 2021. This increase was attributed to the 41.9 percent growth in the total value of non-residential buildings, from P 0.8 billion in the 1st quarter of 2021 toP 1.2 billion in the 1st quarter of 2022.
The 18.0 percent uptick in the total value of residential buildings also contributed to the increase in the total value of constructions. Its value went up to P 1.3 billion in the 1st quarter of 2022 from P 1.1 in the 1st quarter of 2021. These increments, however, were pulled down a bit by the -21.1 percent decline in the aggregate value of additions/alterations and repairs of existing structures, from P 0.2 billion in the 1st quarter of 2021 to P 0.1 billion in the 1st quarter of 2022.
Residential buildings’ value of construction comprised almost half or 49.3 percent of the total value of constructions in the region.
The value of construction of non – residential buildings contributed 44.6 percent.
Meanwhile, additions/ alterations and repairs accounted for only 6.1 percent of the region’s total value of constructions during the 1st quarter of 2022.
Average cost of construction per square meter was estimated at P 9,151 for residential buildings and P 9,930 for non – residential buildings.
Data were based on the preliminary results of construction statistics from approved building permits.(PR)
