Residential buildings had the highest average cost of constructions
The average cost of construction in November 2024 was recorded at PhP 12,393.29 per square meter.
This was 16.7 percent higher than the average cost of PhP 10,621.65 per square meter in November 2023. Alteration and repair, other non-residential such as facade, helipad, niche, water tank, etc., and other constructions, which include demolition, street furniture, landscaping and signboards, were excluded in the average cost of construction, since there is no reported floor area for these types of construction.
By type of construction, residential buildings had the highest average cost of PhP 12,492.97 per square meter during the month. This was followed by non-residential constructions with PhP 12,466.97 per square meter, and addition to existing constructions with PhP 8,909.53 per square meter.
Among residential constructions, residential condominium-type posted the highest average cost of PhP 15,039.59 per square meter during the period, while other residential such as container van house, staff housing, servants quarter, etc. recorded the lowest average cost of PhP 8,765.49 per square meter.
Across non-residential constructions, commercial buildings reported the highest average cost of PhP 15,746.71 per square meter. On the other hand, industrial-type buildings registered the lowest average cost of PhP 5,460.29 per square meter.
Source: Philippine Statistics Authority
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