Housing logs highest number of constructions valued at P43.79B

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AMID the pandemic, it has been business as usual for construction activities.

In the second quarter of this year, the Philippines logged a total of 38,389 constructions valued at P84.36 billion, according to the Philippine Statistics Authority.

The increase in construction activities indicates an annual expansion of 114.1 percent, faster than the previous quarter’s annual growth rate of 4.7 percent.

In the second quarter of 2020, the number of constructions decreased by 61.4 percent.

By type of construction, residential reported the highest number of constructions at 27,375, up by 102.8 percent from the same period last year. Majority or 82.4 percent of the total residential constructions were single-type houses.

During the quarter, residential building constructions were valued at P43.79 billion, up 209.5 percent from P14.15 billion total construction value recorded in the same quarter of 2020.

Meanwhile, the number of non-residential constructions also increased by 119.2 percent to 5,550 from 2,532 non-residential constructions recorded in the same period last year. About 69.2 percent of the non-residential constructions were commercial buildings.

The value of non-residential constructions reached P32.83 billion.

Calabarzon remained to have the highest number of constructions with 9,773 constructions or 25.5 percent share of the total during the quarter, followed by Central Visayas with 5,608 (14.6 percent) constructions and Ilocos Region with 4,659 (12.1 percent) constructions.

In terms of value of constructions, Calabarzon topped the list, logging P20.09 billion followed by National Capital Region (P16.56 billion), Ilocos Region (P9.97 billion), Central Luzon (P9.53 billion) and Central Visayas (P6.34 billion). (KOC)

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