Likewise, extensions are 20% more expensive; a toilet that cost RD$4,300 last year is now offered at RD$5,300; a bathroom cabinet that used to cost RD$9,500 now costs RD$12,000.
SANTO DOMINGO –Prices for housing construction materials continue their relentless rise in the country. Each week brings new price increases to the upward trend that began during the pandemic and has now intensified, exacerbated by the war in Ukraine, which has already led to price hikes in essential products for the concrete block and cement industry.
The latest increase recorded last week corresponds to wood, whose price skyrocketed by more than 60%, in addition to the cement bag which again rose 30 pesos, according to owners in a tour carried out by El Inmobiliario this weekend, through hardware stores, located on Independencia Avenue in the Dominican capital.
“The price of wire is going to go up too. Cement went up a week ago. Before it cost
“We used to sell the case for $420, but now we sell it for $440, and some stores are even charging $460. Before, we covered the shipping costs, but now we can’t because it’s outside our profit margin,” explained Jackson Espinoza of Ferretería Direen.
He attributed the increase in cement prices to the raw materials that must be imported for the product. "The same thing happens with metals and cement derivatives, whether it's tile adhesive or plaster; all derivatives tend to rise in price. For example, when metal prices increase, there are also price increases for eye bolts," he stated.
He cited the case of silicone, which also increased in price. "In the case of wood, I've checked prices and it's more expensive; it went from 90 to 150 pesos per foot of wood, meaning we're almost talking about double. Cardboard used to cost 400 pesos, now it costs 1,000.".
He explained that Brazilian wood is cheaper because it's simpler, having risen 10% in price, while American wood, which is more resistant but more expensive, has risen much more. "In fact, many people are building with a type they call 'fake wood' or 'cardboard,' and since it was in stock, they're taking advantage of it. But the same thing will happen: when the stock runs out, they'll have to order it, and it will be more expensive.".
Among steel products, he cited nails, which doubled in price during the pandemic, adding that "of course it will rise with the increase in steel prices and the issue in Ukraine, which will affect everything.".
Ramón Pérez, from Bladimir Hardware Store, said that all construction materials, without exception, have seen price increases; he also complained about the decline in sales this year. “Imagine, on Saturdays the number of customers usually triples, and look at the situation today.”.
He noted that while sales are brisk some weeks, they haven't been consistent this year. He cited the example of bathroom extensions, which are 20% more expensive. He showed a toilet that cost RD$4,300 last year and is currently being offered at RD$5,300; a bathroom vanity that used to cost RD$9,500 now costs RD$12,000.
Concern vs. increases
Following the outbreak of war in Ukraine, the price of a bundle of steel rose by three thousand pesos in the Dominican local market; a situation that has generated tension in the construction sector, given the conflict that arose between that country and Russia, which has caused a crisis in the world economy and uncertainty in the major international markets.
Faced with this situation, representatives of the sector have expressed concern and have asked the government headed by Luis Abinader to take the necessary measures to alleviate the situation, projecting that the sector could be severely affected.
