Number of constructions from approved building permits decreased

Based on the preliminary results of construction statistics from approved building permits, the total number of constructions in Cebu in the first quarter of 2019 reached 1,971. This represents a decrease of 27 percent from the 2,701 constructions recorded during the same quarter in 2018. The figure also represents a 4.9 percent share to the country’s total construction.

The decline in number can be heavily attributed to the decrease in the number of residential constructions which only reached 1,444 compared to the 2,233 projects reported during the same period of 2018. This was brought about by the decrease in the number of apartment/accesoria/rowhouse (32.7%) and single residential constructions (12.5%).

Meanwhile, non-residential constructions posted a substantial increase of 21.5 percent, from 340 to 413 projects recorded during the same period of the previous year. The growth in the number of industrial (58.8%) and institutional buildings (52.5%) contributed to the increase.

On the other hand, additions to existing structures posted a slight increase of 5.6 percent while alterations and repair dropped by 13.6 percent from 110 building alterations a year ago to 95 in quarter 1 of 2019.

Among cities/municipalities, Liloan posted the biggest number of constructions at 344. This was followed by Talisay City with 108 and the City of Naga rounded up the top three with 100 constructions recorded.

Total value of construction decreased by 9.6 percent

The total value of construction in the first quarter of 2019 was reported at PHP 9.08 billion. This is a decrease of 9.6 percent compared with the registered amount of PHP 10.04 billion recorded during the same period in 2018.

The decrease was brought about by the decline in the value of residential constructions which registered a drop of 58.8 percent in the first quarter of 2019. All types of residential construction posted a drop in value compared to the same period last year. Residential construction constitutes 75% of the total number of constructions in Cebu.

On the other hand, non-residential constructions posted an increase of 66.4 percent from PHP 3.1 billion to PHP 5.3 billion.

Average cost per square meter of residential-type construction decreased by 32.0 percent.

Average cost per square meter of residential constructions for the first quarter of 2019 was estimated at PHP 11,066. This represents a decrease of 32 percent from the same quarter of the previous year’s average of PHP 16,283. The decrease can be attributed to the decline in value of all types of residential constructions.

Average cost per square meter of non-residential constructions is PHP 11,105.

The average cost per square meter of non-residential construction was recorded at PHP 11,105. This figure was 10.3 percent higher than the PHP 10,068 recorded during the same period of 2018. The increment was attributed to the increase in the average cost per square meter on institutional buildings which was reported at PHP 18,014.

Among residential constructions, single-type houses recorded the most number with 1,001 or 69.3 percent of the total. Total value for this type was estimated at PHP 1.22 billion with a total floor area of 118,921 square meters for an average cost of PHP 10,323 per square meter.

Apartment/accessoria/rowhouse-type units ranked second with 421 projects with an estimated value of PHP 307 million and total floor area of 32,821 square meters. Average cost for these types of projects was PHP 9,510 per square meter.

Residential condominiums which recorded the least count of 5, had a construction value of PHP 1.16 billion with a total floor area of 91,472 square meters for an average cost of PHP 12,649 per square meter.