SANTO DOMINGO- In May of this year 2023, the Direct Housing Construction Cost Index (ICDV) averaged 218.57, registering a decrease of 5.05 points, compared to April which was 223.62, representing the month of the year in which said indicator has experienced the greatest decrease, according to reports presented by the National Statistics Office (ONE).
During the aforementioned month, the main decrease occurred in tools, with -13.93%, while the main reduction was in PVC pipes and parts, with -14.24%.
By type of housing, the ICDV for May was 221.38 for single-family one-level housing; 220.43 for single-family two-level housing; 216.08 for multi-family four-level housing; and 216.40 for multi-family eight-level or more housing.
The largest increase was in the subcontracting group, at 3.85%. By cost subgroups, the largest decreases were in PVC pipes and fittings, at -14.24%; tools, at -13.93%; and miscellaneous electrical supplies, at -13.78%. Meanwhile, the largest increases were in boat subcontracting, at 18.11%; followed by elevators, at 15.65%; and machinery, at 3.23%.
Below we share how the ICDV indicators have performed in the period January-June of this year:
January
In January, the ICDV (Housing Cost Index) was 226.92, registering a growth of 2.51 points compared to December 2022, which was 224.41. The largest increase was in the tools group, with 6.02%, and the largest increase was in electric generators, with 13.86%. By housing type, the ICDV was 227.71 for single-family homes with one level; 229.87 for single-family homes with two levels; 225.78 for multi-family homes with four levels; and 224.33 for multi-family homes with eight levels or more.
By cost groups, the main increases were in tools, with 6.02%, and materials, with 1.35%.
By subgroup, the largest decreases were seen in wood, with -10.31%; flooring and ceramics, with -3.18%; and electrical accessories, with -1.23%. Meanwhile, the largest increases were seen in electric generators, with 13.86%; followed by cement and adhesives, with 8.29%; and blocks and other materials, with 7.02%.
February
In February, the ICDV was 225.77, registering a decrease of -0.51 points compared to January. The main decrease was in the subcontracting group, with -3.50%, and by cost subgroup, the largest decrease was in boat subcontracting, with -16.63%. By housing type, the ICDV was 226.48 for single-family one-story homes; 229.00 for single-family two-story homes; 224.72 for multi-family four-story homes; and 222.89 for multi-family homes of eight or more stories.
By cost groups, the main decreases were in subcontracts, with -3.50%, followed by tools, with -3.17%.
The largest decreases were seen in boat subcontracting, with a 16.63% drop; PVC pipes and fittings, with a 4.53% drop; and tools, with a 3.17% drop. Meanwhile, the largest increases were in termination subcontracting, with a 2.57% increase; followed by modules, meters, and breakers, with a 2.08% increase; and electrical wires, with a 1.63% increase
March
In March, the ICDV averaged 223.08, registering a decrease of 1.19 points compared to February's 225.77. The largest decrease was in the materials group, with a 1.51% drop, and within the cost subgroup, the largest decrease was in flooring and ceramics, with a 23.54% decrease. By housing type, the ICDV was 225.78 for single-family homes with one level; 224.89 for single-family homes with two levels; 220.76 for multi-family homes with four levels; and 220.90 for multi-family homes with eight or more levels.
By cost group, the largest decrease was in materials, at -1.51%, and the largest increase was in tools, at 0.35%. By cost subgroup, the largest decreases were in flooring and ceramics, at -23.54%; elevators, at -3.25%; and electrical wires, at -2.06%. Meanwhile, the largest increases were in PVC pipes and fittings, at 1.21%; followed by metalwork subcontracts, at 0.47%; and tools, at 0.35%.
April
In April 2023, the ICDV was 223.62, registering an increase of 0.24 points compared to March, which was 223.08. By cost group, the largest increase was in tools, at 0.45%, and by cost subgroup, the largest increase was in aggregates, at 3.23%. By housing type, the ICDV was 226.25 for single-family homes with one level; 225.45 for single-family homes with two levels; 221.22 for multi-family homes with four levels; and 221.54 for multi-family homes with eight or more levels.
By cost group, the largest decrease was in machinery, at -0.35%, and the largest increase was in tools, at 0.45%. By cost subgroup, the largest decreases were in hollow core blocks, at -3.35%; wire, nails, zinc, and other materials, at -1.62%; and electric generators, at -1.04%. Meanwhile, the largest increases were in aggregates, at 3.23%; followed by finishing subcontracts, at 2.36%; and modules, meters, and circuit breakers, at 1.85%.
June
In June of this year, 2023, the ICDV averaged 219.55, registering an increase of 0.98 points, compared to May, which was 218.57.
The main increase occurred in machinery, with 1.53%, and by cost subgroup the main increase was recorded in modules, counters and breakers, with 9.62%.
The report states that the ICDV registered a monthly variation of 0.45%, a lower figure compared to the same period in 2023, which was 1.02%.
By type of housing, the ICDV was 222.02 for the single-family one-level dwelling; 221.81 for the single-family two-level dwelling; 216.65 for the multi-family four-level dwelling, and 217.71 for the multi-family eight-level or more dwelling.
The ONE reports that by cost groups, the main decrease was in tools, with -3.59%, and the main increase was in machinery, with 1.53%.
“By cost subgroups, the main decreases were in steels, -4.69%; PVC pipes and fittings, with -3.94%; tools, with -3.59% and wires, nails, zinc and others, with -2.11%,” the report states.
It adds that the main increases were in modules, meters and breakers, with 9.62%; followed by painting, with 5.91% and boat subcontracting, with 4.53%.
The 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).
