The index has shown a cumulative increase of 3.28% since December 2023.
By Pedro Ardón
El Inmobiliario
SANTO DOMINGO. – According to data published by the National Statistics Office (ONE), the Direct Housing Construction Cost Index (ICDV) registered a slight decrease of 0.52 points last October, reaching an average value of 227.59, compared to the 228.11 points registered in September 2024.
This monthly decline contrasts with the year-to-date performance, as the index has shown a cumulative increase of 3.28% since December 2023. Furthermore, compared to October 2023, the indicator has increased by 5.61% in the last 12 months, according to the monthly report published by the agency.
The ICDV results in October 2024 indicate that for single-family homes with one level, the index was 231.92 points; for single-family homes with two levels it reached 229.89 points; multi-family homes with four levels registered a value of 224.39 points; and multi-family homes with eight or more levels stood at 224.16 points.
Materials
Regarding the monthly variation by cost group, the report shows several significant fluctuations. Materials experienced an increase of 0.63%, machinery rose by 0.08%, and labor remained unchanged.
On the other hand, decreases were recorded in key materials such as tools, which fell by -4.89%, and in components such as paint (-5.63%), plumbing and sanitary installations (-3.65%) and vaults which fell by (-3.12%).
Regarding the increases in the cost subgroups, the monthly variations reflected increases in blacksmithing subcontracts, being (2.91%), the aggregates reaching (0.81%), electric wires with (0.52%), electric generators with (0.23%), and finally, elevators, with (0.17%).
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 (indirect costs such as: land, design, construction permits, financial costs, profits of the construction company, etc. are excluded).
