SANTO DOMINGO– Some construction materials saw price decreases during the month of August, according to the National Statistics Office (ONE). In presenting data on the Direct Housing Construction Cost Index (ICDV) for the eighth month of the year, the agency noted price reductions in several products used in building construction.
The ONE highlights that the main monthly variations are evident in steel and tools, which registered decreases of 23.74% and 12.13%, respectively, while wire, nails, zinc, and other materials saw a decrease of 7.32%. Similarly, machinery decreased by 12.13%, subcontracts by 2.32%, and labor by 1.02%.
The publication from the entity that handles the registration of national statistics indicates that in the aforementioned month the ICDV was 227.60 on average, registering a decrease of 6.24 points, compared to the previous month which was 233.84.
The report adds that from December 2023 to date, the index has shown a cumulative variation of 3.28%. “When comparing the results of August 2024 with those of August 2023, the index has shown a variation of 5.07%,” the report states.
By housing type, the ICDV was 231.75 for single-family one-story dwellings; 230.08 for single-family two-story dwellings; 224.52 for multi-family four-story dwellings; and 224.04 for multi-family dwellings of eight or more stories
The variation was that single-family one-level housing decreased by 2.32%, single-family two-level housing by 2.68%, multi-family four-level housing decreased by 1.98%, while multi-family housing of eight levels or more experienced a decrease of 3.69%.
Increases
The main monthly increases are seen in floors and ceramics, with an increase of 3.02%; blocks and others, with 2.60%; miscellaneous electrical items, with 1.85%; and vaulted ceilings, with 0.85%; and materials, with an increase of 0.29%.
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).
