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AUTHORIZED building permits decreased by 8.5% year-over-year in July as residential development initiatives fell, the Philippine Statistics Authority (PSA) disclosed.<\/p>\n
Initial figures indicated that building initiatives included in the permits totaled 15,395 in July, down from 16,821 the previous year.<\/p>\n
This marked a reversal from the 12.3% increase in July 2024 and the adjusted 14.9% growth observed in June.<\/p>\n
During that month, construction initiatives encompassed 3.47 million square meters (sq.m) of floor space, down 2.1% compared to 3.54 million sq.m from the prior year.<\/p>\n
These sanctioned building initiatives were appraised at P44.54 billion, 7.5% below the P48.16 billion recorded a year prior.<\/p>\n
Permits for residential initiatives, which comprised 66% of the overall total, dropped 8.5% to 10,157 in July.<\/p>\n
These initiatives were appraised at P19.77 billion, compared to P19.74 billion a year earlier.<\/p>\n
Single-family homes constituted 79.1% of the residential segment, with approved permits declining by 10.9% to 8,034.<\/p>\n
Requests for apartment complexes grew by 2.5% to 1,957, whereas applications for duplex or quadruplex residences decreased by 3.1% to 155.<\/p>\n
Conversely, non-residential initiatives recorded 3,205 approvals in July, falling 8.8% from the previous year.<\/p>\n
Non-residential permits were evaluated at P19.84 billion, a decrease of 16.6% from P23.78 billion a year ago.<\/p>\n
Approved commercial construction permits amounted to 2,150, reflecting an 11.3% decline.<\/p>\n
Permits for expansions \u2014 construction that enhances the height or area of an existing structure \u2014 fell by 16% to 429 in July, while modification and repair permits totaled 1,133, decreasing by 15%.<\/p>\n
Industrial permits surged 27.4% to 302, while institutional initiatives saw an 12.1% drop to 582 approvals.<\/p>\n
Agricultural initiatives accounted for 89 approvals, down by 19.1%, while other non-residential projects reached 82 building permit approvals, decreasing by 2.4%.<\/p>\n
Calabarzon (Cavite, Laguna, Batangas, Rizal, and Quezon) recorded the highest number of approved construction projects for that month, making up 21.8% of the total with 3,350 permits.<\/p>\n
This was trailed by Central Luzon (17.5% share with 2,697 permits), and Central Visayas (7.9% share with 1,210 permits).<\/p>\n
In terms of value, Calabarzon captured P8.96 billion worth of construction initiatives, followed by the National Capital Region (P7.82 billion), and Central Luzon (P6.61 billion).<\/p>\n