APPROVED building permits fell 2.7% year on year in November to 12,050, the Philippine Statistics Authority (PSA) reported on Monday.
In November, approved building projects were issued to construct 3.16 million square meters (sq.m.) of floor area, down 21.6% from a year earlier.
Approved permits represented projects valued at P42.48 billion, down 8.4% year on year.
Permits for residential projects accounted for 62.3% of the total and were down 7.8% at 7,513 approvals.
These projects were valued at P17.60 billion with a floor area of 1.41 million sq.m.
Single homes accounted for 88.6% of all residential projects. Such permits fell 1.8% year on year to 6,656 approvals.
Meanwhile, non-residential permits accounted for 23%, and were valued at P21.01 billion, down 9.3% year on year.
Approved commercial construction permits grew 10.7% and were valued at P13.80 billion.
Permits for agricultural projects fell 20% to 64.
Building permits for institutional works rose 14.4% to 509, while industrial project approvals were up 10.9% at 214.
Permits for additions to existing structures rose 4.9% to 448 in November, while alteration and repair permits increased by 2.6% to 1,037.
Calabarzon (Cavite, Laguna, Batangas, Rizal, and Quezon) accounted for 25.2% of approved construction projects, followed by Central Luzon (11.53%) and the Central Visayas (11.47%).
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. — Abigail Marie P. Yraola