English
Philippines: Construction works fall 66% in Q2
MANILA, Philippines — Building activity fell by 65.5 percent annually in the second quarter of the year, the height of pandemic-control lockdowns, the Philippine Statistics Authority (PSA) reported.
Based on the PSA’s Construction Statistics from Approved Building Permits: Second Quarter report, the number of construction projects during the period declined to 16,004 from 46,453 projects in the second quarter of 2019.
This was also significantly fewer than the 32,445 projects in the first quarter.
By type of construction, residential projects totaling 12,004 made up 75 percent of the total number of constructions during the period.
This type of construction, majority of which were single-type houses, contracted by 65.3 percent annually, faster than the 28.5 percent annual decline in the previous quarter.
Next to residential constructions were non-residential projects – mostly commercial buildings – which comprised 14.2 percent of total constructions during the quarter. Non-residential constructions also declined at an annual rate of 64 percent in the second quarter.
The rest were additions and alterations and repairs of existing structures.
Building activity was strongest in Calabarzon, Central Visayas and Ilocos Region during the period.
In the second quarter, the total value of constructions amounted to P25 billion.
The total floor area of constructions for this quarter was recorded at 2.5 million square meters, which indicated a decline of 77.2 percent annually.
With subdued activity, the average cost in the second quarter declined by 14.5 percent to P9,789 per square meter, with non-residential buildings remaining the costliest.
Construction statistics are generated from approved building permits as well as from the demolition and fencing permits collected every month by PSA field personnel from the offices of local building officials.
Source: https://www.philstar.com/business/2020/12/04/2061302/construction-works-fall-66-q2