1.Average cost of construction expanded
The total average cost of construction in the second quarter of 2021was PhP 10,814per square meter. This indicates a faster increase of 12.7 percent compared with the previous quarter’s increase of 10.7 percent.
On the contrary, the average cost per square meter declined by -16.0 percent in the second quarter of 2021.
2.Non-residential had the highest average cost of constructions
Among types of constructions, non-residential had the highest average cost of PhP 11,423 per square meter during the quarter. This was followed by residential with PhP 10,408 per square meter, and addition to existing constructions with PhP10,297 per square meter.
3.Residential condominium construction was the most expensive among types of residential construction
Among residential constructions, residential condominiums posted the highest average cost of PhP13,743 per square meter during the quarter.
The lowest average cost per square meter of PhP 9,210 was recorded in apartment/accessoria type of residential construction.
Source: PSA