SANTO DOMINGO.- In November of this year 2023, the Direct Housing Construction Cost Index (ICDV) was 215.25 on average, registering a decrease of -0.25 points, compared to October which was 215.50, according to the latest report published by the National Statistics Office (ONE).
The report adds that from December 2022 to date, the index showed an accumulated variation of -4.08% and that when comparing the results of November 2023 with those of the same month in 2022, the index has shown a variation of -4.39%.
The ONE explains that by type of housing, the ICDV was 218.95 for the single-family home of one level; 217.00 for the single-family home of two levels; 211.48 for the multi-family home of four levels, and 213.58 for the multi-family home of eight levels or more.
“The variation in the ICDV by cost group was as follows: labor with 0.00%; tools with 1.65%; subcontracts with -0.66%; materials with -0.03%; and machinery with 0.06%,” the measurement highlights.
It highlights that by cost subgroups, the main variations are shown in tools, with 1.65%; PVC pipes and fittings, with 0.75%; elevator, with 0.52%; vaults, with 0.19%; electric generators, with 0.19%; aggregates, with -0.26%; equipment and appliances for water and sanitary installations, with -0.36%; steel, with -0.38%; carpentry subcontract, with -1.23%; and blacksmithing subcontract, with -1.80%.
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).
Its calculation methodology is based on the Laspeyres Index, which considers a basket with a structure of fixed weights over time and compares the prices of the reference period with those of the base period (October 2009).
