MANILA, Philippines - Approved construction permits declined by 11 percent in the fourth quarter compared to the same period in 2012, according to the Philippine Statistics Authority (PSA).
Preliminary results of the PSA’s construction statistics for the October to December period showed the total number of new construction projects from approved building permits reached 24,796, lower than the 27,931 in the same period in 2012.
The new construction projects for the period were valued at P53.4 billion, down by a fifth from P67 billion in the previous year.
“Construction in the private sector has been more of buildings, hence the tendency for the number of building permits to decline,†Philippine Constructors Association executive director Manolito Madrasto said in a text message.
The PSA said the bulk or 70 percent of the approved building permits in the fourth quarter were residential-type buildings which reached 17,407, which declined from the 20,218 in the comparable period in 2012.
The residential building constructions were valued at P27.4 billion, which fell by 28.4 percent year-on-year.
Approved building permits for non-residential constructions meanwhile, decreased to 3,073 from 3,379 in the previous year.
In terms of value, non-residential constructions which amounted to P20.5 billion for the period, went down by 11.6 percent from the previous year.
Permits for additions, alterations and repairs of existing structures are also at a lower 4,316 in the fourth quarter compared to the 4,334 in the comparable period in 2012.
The combined value of additions, alterations and repairs of existing structures estimated at P5.5 billion in the fourth quarter, was unchanged from the same period last year.
Among the regions, CALABARZON (Region IVA) remained highest in terms of the number of new construction projects with 5,311 or 21.4 percent of the total,†the PSA said.
At the provincial level, Cavite reported the most number of construction projects at 2,044 accounting for 8.2 percent of the total.