THE number of constructions in the fourth quarter of 2020 registered a total of 31,026, indicating an annual decline of 20.9 percent. This was slower than the previous quarter’s annual drop of 30.4 percent, a report from the Philippine Statistics Authority (PSA) showed.
In the fourth quarter of 2019, the number of constructions decreased by 10.4 percent annually.
Calabarzon had the highest number of constructions during the quarter. It registered 6,368 constructions or 20.5 percent share to the total during the quarter followed by Ilocos Region with 4,199 constructions (13.5 percent) and Central Luzon with 3,589 constructions (11.6 percent).
Central Visayas had 3,080 constructions with a value of P4.4 billion.
The total number of constructions during the period had a value of P63 billion, down by 46.6 percent. The value of constructions also dropped at an annual rate of 46.5 percent in the previous quarter and 12.1 percent in the fourth quarter of 2019.
By type of construction, residential reported the highest number of constructions during the quarter at 21,892 or 70.6 percent of the total number of constructions. This type of construction dropped at a faster rate of 20 percent than its annual rate of 15.9 percent in the same quarter of the previous year.
About 89.4 percent of the total residential constructions were single-type houses.
Residential building constructions, according to the PSA were valued at P32.6 billion, down by 40.7 percent from the P55 billion total construction value in the same quarter of 2019.
Meanwhile, non-residential constructions, which accounted for 15.1 percent of the total constructions during the quarter, ranked second. Likewise, it decreased at an annual rate of 29.4 percent relative to its count in the same period of the previous year. Majority (61.1 percent) of the non-residential constructions were commercial buildings.
The PSA said the value of non-residential constructions stood at P26 billion, but this translates to a -53.3 percent downturn from the P55.6 billion value of construction in the same quarter of the previous year.
Total floor area
Moreover, the total floor area of constructions was at a downtrend.
The total floor area of constructions for this quarter was 5.8 million square meters, indicating a downturn of -39.6 percent. This was slower than the previous quarter’s annual decrease of 44.7 percent. In the fourth quarter of 2019, the total floor area likewise declined by 14.9 percent.
Residential constructions recorded 3.1 million square meters or 53.2 percent of the total floor area of constructions this quarter. It declined at an annual rate of 33.6 percent which was faster than the previous year’s same quarter annual decline of 22.2 percent.
Similarly, non-residential construction, which accounted for 2.7 million square meters or 45.9 percent of the total floor area of constructions, exhibited a faster annual decrease of 44.6 percent from the previous year’s same quarter annual drop of 6.6 percent.
Cost of construction
The average cost of construction, excluding those for alteration and repair, in the fourth quarter of 2020 was P10,176 per square meter.
It dropped at an annual rate of 12.7 percent, faster than the previous quarter’s annual decrease of 4.3 percent. In contrast, the average cost per square meter expanded by 1.9 percent in the fourth quarter of 2019.
Among types of constructions, residential had the highest average cost of P10,590 per square meter during the quarter. This was followed by non-residential with P9,772 per square meter. (KOC)