**Number of constructions**

**1. ****The total number of constructions declined in Central Visayas**

The total number of constructions from approved building permits of Central Visayas in the fourth quarter of 2021 was recorded at 4,432, which indicates an annual decrease of -19.4 percent. On the other hand, the annual growth rate increased in the previous quarter at 4.0 percent. In the fourth quarter of 2020, the number of construction increased by 12.7 percent annually. (Tables A and 1)

**2. ****Residential buildings had the highest number of constructions**

By type of construction, residential had the highest number during the quarter at 3,272 constructions or 73.8 percent of the total number of constructions. This type of construction decreased at a rate of -17.0 percent, which is a contraction from the posted annual growth of 8.7 percent in the same quarter of the previous year. The Majority (86.1%) of the total residential construction were single-type houses while residential condominiums posted the smallest share of 0.03 percent of the total residential construction. (Figure 1)

Non-residential constructions rank second with 606 or 13.7 percent of the total number of construction during the quarter. It manifested an annual decline by -11.4 percent as compared with the 684 accounted number of non-residential construction in the same quarter of last year. Among the types of non-residential construction, commercial buildings contributed the biggest share of 68.3 percent. (Tables A and 1, and Figure 1)

Additions, which refers to any construction that increases the height or area of an existing building, and alteration and repair of existing structures had shares of 0.2 percent and 12.3 percent to the total constructions in the fourth quarter of 2021, respectively. Compared with their respective annual growth rates during the quarter, addition to existing structures declined by 33.3 percent and alteration and repair by 36.8 percent. (Tables A and 1)

**3. ****Number of constructions was highest in Cebu**

Of the total constructions in Central Visayas, Cebu registered the highest number of construction with 1,792 constructions (40.4%) during the quarter. It was followed by Bohol with 1,576 (35.6%) constructions (36.2%), Negros Oriental with 1,008 (22.7%) constructions and Siquijor with 56 (1.3%) constructions. (Figure 2)

**Value of Constructions**

**1. ****Total value of construction drops in the fourth quarter of 2021**

In fourth-quarter 2021, the total value of construction was PhP6.1 billion, which represents an annual decline of -5.9 percent. Compared with the previous quarter, it expanded at an annual increase of 19.3 percent, while it declined at an annual rate of -45.5 percent in the same quarter of 2020. (Table A and 1)

**2. ****Residential-type buildings recorded the highest value of construction**

Residential building constructions, valued at PhP3.4 billion, accounted for 55.7 percent of the total value. This showed a decrease of -2.8 percent from the PhP3.5 billion construction value posted in the same quarter of 2020. (Tables A and 1, and Figure 3a)

Value of non-residential construction, which amounted to PhP2.6 billion or 41.8 percent of the total value during the quarter. This reflects a -11.5 percent decline from the PhP2.9 billion value of construction of the same quarter of the previous year. (Table A and 1, and Figure 3b)

Moreover, the construction value of addition to existing structures, which amounted to PhP9.6 million (0.2%), declined by 36.0 percent from the PhP15.0 million in the same quarter of 2020. Similarly, combined construction of alteration and repair of existing structures at PhP144.6 million (2.4%), an increase of 56.8 percent from the PhP92.2 million construction value recorded in the same quarter of the previous year. (Table 1)

Of the PhP6.1 billion value of construction in Central Visayas, the following contributions of the provinces were: (Figure 4)

- Cebu, PhP3.6 billion (59.4%)
- Bohol, PhP1.6 billion (26.2%)
- Negros Oriental, PhP0.8 billion (12.3%)
- Siquijor PhP0.1 billion (2.1%)

**Floor Area**

**1. ****Reported total floor area of constructions declined**

The reported total floor area of constructions in the fourth quarter of 2021 was recorded at 600.0 thousand square meters. This indicates a decline of -8.8 percent as compared to the decline of -41.9 percent recorded in the fourth quarter of 2020 which is at 657.5 thousand square meters. (Table A)

**2. ****Residential-type buildings accounted for more than half of the region’s total floor area of construction**

Residential construction recorded 332.6 thousand square meters or 55.5 percent of the total floor area of construction. This exhibits a decline of -13.2 percent compared with the same quarter of the previous year’s decline of -21.7 percent.

Similarly, non-residential recorded 265.8 thousand square meters or 44.3 percent of the total floor area of constructions. This translates to an annual decline of -2.4 percent compared with the same quarter of the previous year’s annual drop of -57.3 percent.

**Average Cost per Square Meter**

**1. ****Average cost of construction expanded**

The average cost of construction in the fourth quarter of 2021, excluding those for alteration and repair, and other non-residential, was PhP9,998 per square meter. It increased at an annual rate of 2.3 percent compared with the previous quarter’s annual increase of 6.8 percent. On the contrary, the average cost per square meter declined by 0.8 percent in the fourth quarter of 2020. (Table 1)

**2. ****Residential buildings had the highest average cost of construction**

Among the types of construction, residential buildings had the highest average cost of PhP10,273 per square meter during the quarter. This was followed by non-residential; with PhP9,665 per square meter, and addition to existing construction with PhP8,744 per square meter. (Table 1)

**3. ****Residential condominium construction was the most expensive among types of residential construction**

Among residential-type of constructions, residential condominiums posted the highest average cost of PhP28,138 per square meter during the quarter, while other residential constructions recorded the lowest average cost at PhP6,579 per square meter.

**4. ****Industrial-type buildings were the costliest among non-residential constructions**

For this quarter, industrial-type of building constructions reported the highest average cost of PhP10,029 per square meter. Meanwhile, Agricultural-type building constructions registered the lowest average cost of PhP4,956 per square meter. (Figure 5 and Table 1)

Approved by:

(SGD.) **ARIEL E. FLORENDO**

Regional Director