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  • Writer's pictureZiggurat Realestatecorp

Building permit approvals declined slightly in 2019

Construction starts as measured by building permit approvals declined slightly in 2019, the Philippine Statistics Authority reported in its final estimates for the indicator.

Building approvals declined 0.02% in 2019 to 173,162. The retreat in the number of approvals reverses the 13.9% rise posted in 2018.

Approved projects involved 41.6 million square meters (sq.m.) of floor space, up 1.2%, valued at P491.8 billion, up 3.3%.

Permits for residential projects, which made up 71.8% of the total approved building permits last year, declined by 1.7% to 124,275. These projects were valued at P225.8 billion with a floor area of 20.01 million sq.m.

Single-detached homes accounted for 105,595 permits, followed by apartments at 14,501, duplexes and quadruplexes 3,784, condominiums 177, and other residential projects 218.

Non-residential project approvals rose 9.3% to 26,649, worth P233.2 billion and involving a floor area of 20.9 million sq.m.

Within the category were permits for 16,251 commercial buildings, 5,887 institutional buildings, 2,649 industrial buildings, 1,179 agricultural buildings, and 683 “other non-residential” buildings.

Permits for additions to existing structures numbered 6,166 in 2019, while those for alterations and repairs of existing structures numbered 16,072.

The construction sector’s gross value added grew by 7.8% in 2019, exceeding the Philippines’ gross domestic product growth of six percent that year. The sector’s growth last year, however, was lower than the 14.3% posted in 2018.

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