Construction activities declined in the second quarter of the year, the Philippine Statistics Authority (PSA) reported on Wednesday.
The PSA said the number of approved building permits declined by 14.9 percent to 36,136 from 42,478 in the same quarter last year.
These permits are equivalent to 7.2 million square meters of floor area valued at PHP87.82 billion.
"By type of construction, residential buildings still reported the highest number of 24,175 constructions in the second quarter of 2023 or 66.9 percent of the total number of constructions during the quarter," the PSA said.
This was followed by the non-residential type of construction with 7,928 permits.
"Addition, which refers to any new construction that increases the height or area of an existing building, and alteration and repair of existing structures contributed 4.3 percent and 6.9 percent to the total number of constructions, respectively," it said.
The PSA said the bulk of the construction activities in the second quarter of the year was recorded in Calabarzon with 9,504 permits.
This was followed by Central Visayas with 4,523 constructions, and Central Luzon with 3,682 permits. By Anna Leah Gonzales
Article courtesy of the Philippine News Agency
