New construction projects post 27,525 in the second quarter
The new construction projects from approved building permits nationwide totaled to 27,525 during the second quarter of 2011, representing a decrease of 3.0 percent compared with 28,389 construction projects registered over the same period in 2010.
Residential type building construction during the second quarter of 2011 recorded a total of 19,995, down by 9.2 percent from last year�s total residential construction of 22,033. On the other hand, non-residential construction for the period grew 12.9 percent to 3,409 from 3,020 during the same quarter of 2010.
Approved applications for additions, alterations and repairs of existing structures with a combined total of 4,121 increased by 23.5 percent from 3,336 approved applications recorded during the same quarter of 2010. Figure 1 compares the number of approved building permits by type of construction for the second quarters of 2010 and 2011.