The region’s total number of constructions increased by 0.5 percent, from 5,208 constructions recorded in 2021 to 5,232 constructions in 2022.
The number of non-residential building constructions went up by 13.6 percent, from 1,165 constructions in 2021 to 1,323 constructions in 2022. Combined number of additions/alterations and repair of buildings increased by 5.8 percent, posting 509 constructions in 2022 from 481 constructions in 2021.
On the other hand, the number of residential building constructions declined from 3,562 constructions in 2021 to 3,400 constructions during the year in review, a decrease of -4.5 percent.
The number of residential buildings comprised more than three-fifths or 65.0 percent of the total constructions in the region, while non-residential buildings and additions/alterations and repairs accounted for 25.3 percent and 9.7 percent, respectively.
The total value of constructions in the region in 2022 was estimated at P12.1 billion. This figure is 18.2 percent higher than the P 10.2 billion total value of constructions in 2021. This increase was attributed to the 41.6 percent growth in the total value of non-residential buildings, from P 4.7 billion in 2021 to P 6.7 billion in 2022.
The total value of residential buildings inched up by 0.1 percent. Its value went up to P 4.783 billion in 2022 from P 4.776 billion in 2021. These increments, however, were pulled down by the -18.6 percent decline in the total value of additions/ alterations and repairs of existing structures, from P 0.7 billion in 2021 to P0.6 billion in 2022.
Non-residential buildings’ value of construction comprised more than half or 55.7 percent of the total value of constructions in the region. The value of construction of residential buildings contributed 39.7 percent. Meanwhile, additions/ alterations and repairs accounted for only 4.6 percent of the region’s total value of constructions in 2022.
Average cost of construction per square meter was estimated at P 7,785 for residential buildings and P 10,735 for non – residential buildings. (PR)
