Monday, September 11, 2023
Number of approved building permit increased by 1.4 percent during the fourth quarter of 2022
The number of approved building permits in NCR increased by 1.4 percent to 2,629 during the fourth quarter of 2022 from 2,593 of the same quarter of the previous year. Out of this total, by type of construction, residential buildings reported the highest with 1,364 or 51.9 percent while the non-residential ranked second with 271 or 10.3 percent of the total approved building permit applications. Annual rates for residential and non-residential type of building constructions were -9.6 and -19.1, respectively.
Meanwhile, combined approved building permits for additions, alterations and repairs went up by 32.7 percent to 994 building permits during the fourth quarter of 2022 from 749 of the same quarter of the previous year. (Figure 1 and Table 1)
Relative to the entire country, NCR contributed 7.0 percent to the number of approved building permits and 19.4 percent to the total value of construction during the fourth quarter of 2022.
Value of constructions for residential type went down by 27.7 percent
The total value of construction decreased by 4.8 percent to PhP 19.1 billion during the fourth quarter of 2022 from PhP 20.0 billion of the same quarter of 2021. Moreover, the aggregate value of residential construction in NCR decreased by 27.7 percent to PhP 8.1 billion in the fourth quarter of 2022 from PhP 11.2 billion during the same quarter of the previous year, while the value of construction for non-residential type of building went up by 11.2 percent to PhP 7.2 billion in the fourth quarter of 2022 from PhP 6.4 billion in the same quarter of 2021. The total value for additions and alterations/repairs increased by 59.9 percent to PhP 3.8 billion in the fourth quarter of 2022 from PhP 2.4 billion during the fourth quarter of 2021. (Figure 2 and Table 1)
Single-type residential building records the highest number of approved building permits while residential condominium registers the highest value of construction
Among the types of residential building, single–type residential building registered the highest number of approved building permits with 997 applications or 51.9 percent of the total number of residential building construction. On the other hand, residential condominium recorded the highest value of construction amounting to PhP 3.5 billion or 42.7 percent of the total value of residential building construction. (Figure 3 and Table 1)
Commercial type of building ranks the highest among non-residential construction.
Among the types of non-residential constructions, the commercial type recorded the highest number of 171 applications, comprising 63.1 percent of the total number and an aggregate value of PhP 5.0 billion or 70.4 percent of the total value of non-residential building construction. (Figure 4a, Figure 4b and Table 1)
Number of constructions was highest in City of Valenzuela
City of Valenzuela continued to register the highest number of constructions with 401 constructions or 15.3 percent share to the total during the quarter. Completing the top three cities with the highest number of constructions were City of Taguig with 291 (11.1%), and City of Caloocan with 277 (10.5%). (Figure 5a and Table 2)
Top three cities contributed nearly half of the total value of constructions
The combined shares of the top three cities, in terms of value of constructions, amounted to PhP 9.5 billion or 49.7 percent of the total. These cities were:
a) Quezon City, PhP 4.1 billion (21.4%);
b) City of Pasig, PhP 3.5 billion (18.2%); and
c) City of Manila, PhP 1.9 (10.1%) (Figure 5b and Table 2)