1 week Ago By Patricia Ramirez
The Philippine Statistics Authority (PSA) has released preliminary data for February 2025, showing a 2.5% year-on-year decline in the number of approved construction projects. A total of 14,440 construction projects were recorded, down from 14,809 in the same month the previous year.
This follows a similar trend observed in January 2025, which saw a 12.8% decrease compared to the previous year. Residential construction remained the largest contributor, with 9,223 residential buildings, or 63.
9% of the total, showing a slight increase of 1.2% from February 2024. Single-type houses accounted for 84.
2% of these residential constructions. In contrast, non-residential constructions dropped by 4.7%, with 3,290 projects recorded, comprising 22.
8% of the total. The total value of construction in February 2025 amounted to PhP 41.60 billion, reflecting a significant 16.
9% decline from PhP 50.05 billion in the same period last year. Non-residential constructions accounted for more than half of the total value, at PhP 21.
29 billion, while residential constructions contributed PhP 17.38 billion. The total floor area for approved constructions in February 2025 reached 3.
58 million square meters, down 12.2% from the 4.07 million square meters recorded in February 2024.
Non-residential constructions made up 58.6% of the total floor area, while residential buildings accounted for 39.9%.
The average cost of construction per square meter in February 2025 was PhP 10,919.23, reflecting a slight decrease of 1.5% from the previous year.
The PSA began collecting construction statistics from approved building permits in 1977, following an agreement between the National Census and Statistics Office (NCSO), now part of the PSA, and the Ministry of Local Government and Community Development. The goal was to implement the provisions of the National Building Code (NBC) and monitor the issuance of building permits. In 1979, the NCSO and the Ministry of Public Works, Transportation, and Communication (MPWTC), now the Department of Public Works and Highways (DPWH), formalized their roles in generating construction statistics through a Memorandum of Agreement.
Over the years, the responsibilities for producing construction statistics were refined through various agreements. In 1993, a joint Memorandum Circular clarified the duties of local engineers in implementing the NBC and producing construction statistics. By 2005, the DPWH issued guidelines for the revised building permit form, ensuring continued compliance with the building code.
Despite the observed decline in construction numbers, the data provides valuable insights for government agencies and businesses to track trends and make informed decisions in urban planning and development..
