Residential constructions in Guimaras grow by 29.63 percent

Residential constructions in Guimaras improved by 29.63 percent in the first quarter of 2022 with a total of value of P43.62 million, posting a growth of 30.92 percent over the same quarter in 2021.

This is based on data culled from approved building permits that were collated and released by the Philippine Statistics Authority.

“The Residential constructions expanded in terms of number by 29.63 percent, floor area by 6.51 percent, and value by 30.92 percent,” according to Provincial Statistics Officer Nelida B. Losare.

Losare explained that while the residential constructions expanded in all areas, non-residential only posted a 12.90% percent growth.

The floor area and value of non-residential constructions decreased by –27.11 percent and –38.39 percent, respectively.

In total, private constructions in Guimaras generated from the approved building permits during the first quarter of 2022 numbered to 71 structures, a 22.41 percent improvement from 58 structures in the same quarter of the previous year.

However, there was a decrease in the floor area and value of constructions during the Q1 2022 at –13.03 percent and –13.83 percent, respectively, due to low non-residential projects a –27.11 percent and –38.39 percent.

Computing the average cost using the proportion of construction value and the floor area, the average construction cost was PhP8,578.35 per square meter in Q1 2022, lower than PhP8,655.87 in Q1 2021.

Residential construction had the highest average cost of PhP9,326.77 per square meter in Q1 2022, followed by non-residential with PhP7,894.15 per square meter, while the construction of addition or expansion of the existing structures got an average cost of PhP8,070.17 per square meter. (See Table 1).

Single-house construction was the most expensive, at PhP9,350.56 per square meter in Q1 2022, while Commercial-type buildings were the priciest among non-residential construction at PhP8,364.33 per square meter in Q1 2022.