On average, the index registered increases during the month of March.
SANTO DOMINGO – Electrical accessories continued their upward trend for the second consecutive month, registering a 5.80% increase in March, according to the bulletin that tracks construction price variations in the national market, published monthly by the National Statistics Office (ONE). Last February, this same product experienced the largest increase at 5.93%.
The publication highlights that in March 2024 the Direct Housing Construction Cost Index (ICDV) averaged 222.78, registering an increase of 0.23 points, compared to the previous month which was 222.55.
The report from the entity responsible for collecting and publishing national statistics indicates that from December 2022 to date, the index showed an accumulated variation of 1.09%.
“When we compare the results of March 2024 with those of March 2023, the index has shown a variation of -0.13%,” states the ONE.
According to the document, by type of housing, the ICDV was 225.88 for the single-family home of one level; 224.42 for the single-family home of two levels; 217.00 for the multi-family home of four levels; and, 223.83 for the multi-family home of eight levels or more.
The variation in the ICDV by cost group was as follows: tools with 5.17%; materials with 0.36%; machinery with 0.19%; labor with 0.00%; and subcontracts with -0.29%, the document highlights.
The ONE bulletin highlights that by cost subgroups, the main variations are shown in electrical accessories, with 5.80%; tools, with 5.17%; electrical wires, with 1.54%; steels, with 1.41%; blocks and others, with 0.95%; wires, nails, zinc and others, with 0.91%; electric generators, with -0.45%.
Flooring and ceramics also experienced a change, with a decrease of 1.21%; ironwork subcontracting, with a decrease of 1.56%; and painting, with a decrease of 4.67%.
The Direct Housing Construction Cost Index (ICDV) is a statistical tool that allows us to know the monthly variations experienced by the cost of construction of four types of housing: single-family homes of 1 and 2 levels, and multi-family homes of 4 and 8 levels or more, in the National District and the province of Santo Domingo, excluding indirect costs such as land, design, construction permits, financial costs, profits of the construction company, etc.
Its calculation methodology is based on the Laspeyres Index, which considers a basket with a fixed weighting structure over time and compares the prices of the reference period with those of the base period, as explained in the ONE publication.
In January of this year, seventeen construction materials and derivatives of the sector registered increases, with the largest increase being in aggregates with a 7.85% increase.
In February 2024, construction material prices fluctuated, according to the report provided by the ONE, which highlighted that the largest variation occurred in electrical accessories with a 5.93% increase, while others such as meters and breakers decreased by -4.66%.
