Monday, September 11, 2023
Number of approved building permit increases by 14.9 percent during the third quarter of 2022
The number of approved building permits in NCR increased by 14.9 percent to 2,443 during the third quarter of 2022 from 2,127 of the same quarter of the previous year. Out of this total, by type of construction, residential buildings reported the highest with 1,331 or 54.5 percent while the non-residential ranked second with 278 or 11.4 percent of the total approved building permit applications. Annual rates for residential and non-residential type of building constructions were -5.5 and 12.1, respectively.
Meanwhile, combined approved building permits for additions, alterations and repairs went up by 77.1 percent to 834 building permits during the third quarter of 2022 from 471 of the same quarter of the previous year. (Figure 1 and Table 1)
Relative to the entire country, NCR contributed 6.0 percent to the number of approved building permits and 16.0 percent to the total value of construction during the third quarter of 2022.
Value of constructions for residential type went down by 40.1 percent
The total value of construction decreased by 36.6 percent to PhP 16.9 billion during the third quarter of 2022 from PhP 26.7 billion of the same quarter of 2021. Moreover, the aggregate value of residential construction in NCR decreased by 40.1 percent to PhP 9.2 billion in the third quarter of 2022 from PhP 15.3 billion during the same quarter of the previous year, while the value of construction for non-residential type of building went down by 22.7 percent to PhP 5.2 billion in the third quarter of 2022 from PhP 6.7 billion in the same quarter of 2021. The total value for additions and alterations/repairs decreased by 45.4 percent to PhP 2.5 billion in the third quarter of 2022 from PhP 4.7 billion during the third 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 968 applications or 72.7 percent of the total number of residential building construction. On the other hand, residential condominium recorded the highest value of construction amounting to PhP 4.6 billion or 49.7 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 177 applications, comprising 63.7 percent of the total number and an aggregate value of PhP 2.4 billion or 45.5 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 465 constructions or 19.0 percent share to the total during the quarter. Completing the top three cities with the highest number of constructions were City of Makati with 276 (11.3%), and City of Paranaque with 271 (11.1%). (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 8.1 billion or 47.8 percent of the total. These cities were:
a) City of Pasig, PhP 3.6 billion (21.3%);
b) City of Paranaque, PhP 2.6 billion (15.5%); and
c) City of Caloocan, PhP 1.9 (11.0%) (Figure 5b and Table 2)
(SGD.) PACIANO B. DIZON