APPROVED building permits fell 7.5% year on year in August to 13,436, the Philippine Statistics Authority (PSA) reported.
In August, approved building projects amounted to 3.23 million square meters of floor area, up 1.9% from a year earlier. Approved permits represented projects valued at P43.05 billion, up 1.1% year on year.
Residential buildings accounted for 64.7% of approved permits, with single homes making up 83.1% of the residential segment.
Non-residential permits accounted for 22.1%, and were valued at P18.31 billion, down 13% year on year.
Approved commercial construction applications made up 69.2% of the nonresidential segment, down 3.6% year on year.
Calabarzon (Cavite, Laguna, Batangas, Rizal, and Quezon) accounted for 25.1% of approved construction projects, followed by Central Visayas and Central Luzon.
The PSA said construction statistics are compiled from the copies of original application forms of approved building permits, as well as from demolition and fencing permits collected monthly by the agency’s field personnel from the offices of local building officials. — Kenneth H. Hernandez