Philippine building constructions rose 5.3% in 2024

Constructions from approved building permits reached 180,341 in 2024, up by 5.3 percent from 171,268 in 2023, the Philippine Statistics Authority said Monday.

This followed a 1.7-percent decline in 2023.

By type of construction, residential buildings reported the highest number with 116,427 constructions or 64.6 percent of the total number of constructions in 2024.

It increased 3.6 percent from the previous year’s level of 112,399 constructions. Most residential constructions were single-type houses with 97,490 constructions (83.7 percent).

Meanwhile, non-residential type of constructions was the second highest in terms of number of constructions at 39,238 or 21.8 percent of the total number of constructions in 2024. This type of construction increased during the year at an annual rate of 9.7 percent.

Most non-residential constructions were commercial buildings with 27,053 constructions (68.9 percent).

Addition, which refers to any new construction that increases the height or area of an existing building, alteration and repair of existing structures, and other constructions contributed 3.2 percent, 7.8 percent, and 2.8 percent to the total number of constructions, respectively.

Compared with their respective number of constructions in the previous year, addition to existing structures recorded an annual decrement of 3.9 percent. On the other hand, alteration and repair of existing structures and other constructions posted annual increases of 8.7 percent and 16.0 percent, respectively.

CALABARZON ranked first in terms of the number of constructions, with 41,471 constructions or 23.0 percent share to the total in 2024. Completing the top three regions were Central Luzon with 22,824 constructions (12.7 percent) and Central Visayas with 19,585 constructions (10.9 percent).

In 2024, the total value of constructions amounted to P563.89 billion, indicating an annual increase of 9.4 percent from the P515.30 billion value of constructions posted in 2023.

Non-residential building constructions valued at P250.86 billion accounted for 44.5 percent of the total value of constructions in 2024. This represents an annual increment of 5.0 percent from the {238.87 billion construction value recorded in 2023.

Meanwhile, the construction value of residential buildings amounted to P248.65 billion or 44.1 percent of the total construction value registered in 2024. This reflects an annual increment of 15.8 percent from the P214.76 billion value of constructions reported in the previous year.