BP Special Release No. 2017-001
Tuesday, November 7, 2017
Residential type buildings in Camarines Norte top in Fourth Quarter 2016
- The approved building permits in Camarines Norte for the fourth quarter of 2016 totaled to 59 projects. Residential type buildings topped the list of the approved building permit applications with 48 new construction projects or 81.36 percent share to the total as shown in Figure 1.
- In addition, for non-residential type buildings exhibited with 6 projects accounted for 10.17 percent share. This was followed by additions and alterations and repair projects with 6 or 5.08 percent and 2 or 3.39 percent approved permits, respectively.
- In Figure 2, the building permit applications in the province for the fourth quarter of 2016 slightly decreased by 35.16 percent (from 91 permits to 59 permits) from the previous year. Same trend was also observed between third and fourth quarter of 2016 with 15.71 percent (70 permits to 59 permits) decrements.
- Moreover, both the residential and non-residential manifested decrements from fourth quarter of 2015 to the same quarter of 2016 with 12.73 percent (from 55 permits to 48 permits) and 76.92 percent (from 26 permits to 6 permits), respectively. The same observations were exhibited from third quarter and fourth quarter of 2016 with 21.31 percent (from 61 permits to 48 permits) and 14.29 percent (from 7 permits to 6 permits), accordingly.
Total value of construction increases in fourth quarter of 2016
- Total value of construction from approved building permits for the fourth quarter of 201M6 was registered at P 139.9 thousand. This was higher by P 39.5 thousand or 39.3 percent (from P 100.5 to P 139,945.00) from the same quarter of the previous year.
- Meanwhile, the total value of projects in the third quarter of 2016 estimated at P84.5 thousand lowered by 55.4 thousand from the succeeding quarter in 2016.
- Moreover, the residential and non-residential buildings in the fourth quarter of 2016 had the highest total value of construction at P 87.9 thousand and P 45.5 thousand, respectively as shown in Figure 3.
- Whereas, in the preceding quarter, between the abovementioned building constructions, the non-residential buildings estimated a higher value of construction amounting to P 43.7 thousand.
- Total value of construction for residential buildings was 38,270 thousand with total floor area of 4,420 square meters, translating to an average cost of P 866.84 per square meter.
- For non-residential buildings, the total value of construction reached 43,706 thousand with a total floor area of 5,664 square meters reflecting an average cost of P 771.64 per square meter.