THE total number of building permits approved in 2015 increased by 5,131 or 4 percent to a total of 132,006 from only 126,875 in the previous year.
The boom in the residential property sector, particularly single-type and duplex/quadrupled-type houses, drove the growth.
However, data the Philippine Statistics Authority (PSA) released showed total value of constructions in 2015 declined by 9.5 percent to P331.6 billion, from the P366.6 billion in 2014. The reason for it was that construction of non-residential buildings and addition to existing structures, had slumped by 22.5 percent and 14.8 percent, respectively.
Total value of non-residential buildings during the year amounted to P143.2 billion, a drop from the P184.9 billion in the previous year, while total value of addition to existing structures declined to P6.3 billion from P7.4 billion in 2014.
Construction permits for residential condominiums, apartments and accessoria also declined by 20.5 percent, 4.8 percent and 3.9 percent, respectively during the period.
However, on the whole, the residential property sector made 7.7 percent expansion, from 90,201 permits in 2014 to 97,174.
“Construction of single-type (9.5 percent) and duplex/quadruplex-type houses (5.8 percent) were the drivers of growth in residential constructions,” PSA said.
Permits approved for non-residential buildings also increased by 935 or 6.2 percent, from 15,191 in 2014 to 16,126 permits in 2015.
“All types of non-residential buildings also posted growth in the number of construction projects,” PSA said.
PSA noted that other non-residential and institutional buildings marked the highest growth at 72.2 percent and 17.7 percent, respectively.
Permits for addition to existing structures fell by 19.3 percent from 6,207 in 2014 to 5,012 last year. Alteration and repair existing structures also fell, down 10.4 percent to 13,694 from 15,276 a year ago.
PSA noted that residential buildings accounted for almost half of the total construction value duringt the period at P160.1 billion.
“This represents an increase of 4.8 percent from previous year’s construction value of P152.8 billion,”PSA said.
Moreover, total value of alteration and repair of existing structures grew by 2.2 percent to P22 billion from PHP21.5 billion recorded in 2014.