SANTO DOMINGO.- From December 2024 to January 2025, the Direct Housing Construction Cost Index (ICDV) experienced an increase of 8.39 points, rising from an average of 227.68 to 236.07. From the last month of 2023 to date, the index showed an accumulated variation of 3.68%.
This is recorded in the latest report published by the National Statistics Office (ONE), which highlights that when comparing the results of January 2025 with those of the same period in 2024, the index has shown a variation of 6.47%.
InJanuary of last year, the ICDV was 221.74. The report from the ONE, Department of Current Statistics, Price Index Division, notes that the only decrease in January 2024 was in fuels with -0.13%.
Seventeen construction materials and related products saw price increases during January 2024, according to the ICDV bulletin, which stated that the largest increase occurred in aggregates with a 7.85% rise.
Labor starts the year with an increase
The ONE's first report of the year highlights that the main monthly variations were recorded in labor, with an increase of 7.14% in the subgroups of painting, carpentry, excavation, plumbing, day laborers, masonry and steel.
It highlights that, regarding cost groups, the monthly variations reflected an increase in addition to labor, in tools with an increase of 3.76%; materials with 1.22%; and machinery with 0.41%.
“On the other hand, decreases were observed in electrical accessories, with -6.45%; miscellaneous electrical items, with -1.43%; and modules, meters and breakers, with -0.51%. The smallest increase was recorded in subcontracts with 0.09%,” the document emphasizes.
It adds that by type of housing, the ICDV was 241.51 for single-family housing of one level; 238.71 for single-family housing of two levels; 231.90 for multi-family housing of four levels, and 232.17 for multi-family housing of eight levels or more.
In 2024
According to the agency's publications, July was the month that experienced the largest increase in the ICDV, reaching 233.84, followed by June which reached 233.12.
January
Seventeen construction materials and related products saw price increases during January, according to the ICDV bulletin, which stated that the largest increase occurred in aggregates with a 7.85% rise.
The report from the National Statistics Office (ONE), specifically the department of current statistics and the price index division, indicates that the only decrease in January 2024 was in fuel prices, with a drop of 0.13%. The Consumer Price Index (ICDV) was 221.74 in the first month of the year.
February
In February the ICDV was 222.55, with the largest variation occurring in electrical accessories with a 5.93% increase, while the subgroups blocks and others experienced an increase of 2.36%; wires, nails, zinc and others, with 2.10%; pipes and pvc pieces, with 1.64%; cements and glues, with 1.35%; and steels with 1.29%.
March
The electrical accessories component maintained its upward trend for the second consecutive month, marking a 5.80% increase in March.
The variation in the ICDV by cost group was as follows: tools with 5.17%; materials with 0.36%; machinery with 0.19%; and labor with 0.00%, the document highlights.
The main variations were seen in electrical accessories, with 5.80%; tools, with 5.17%; electrical wires, with 1.54%; steels, with 1.41%; blocks and other items, with 0.95%; and wires, nails, zinc, and other items, with 0.91%. During this month, the ICDV was 222.78.
April
The ICDV for the fourth month of the year was 223.73 , with aggregates at 5.99% and paint at 5.97% registering the main price variations in April 2024, according to the report.
The agency's monthly bulletin highlighted that meters and breakers also experienced increases, with 3.85%; wood, with 1.54%; floors and ceramics, with 1.48%; and equipment and appliances for water and sanitary installations, with 1.20%.
May
The main variations were observed in tools, with an increase of 3.29%; subcontracts, with an increase of 1.32%; and labor, remaining unchanged at 0.00%. The ICDV for this month was 224.24.
Regarding the cost subgroups, the main variations were shown in carpentry subcontracting, with 5.77%; tools, with 3.29%; elevator, with 1.61%; blacksmithing subcontracting, with 1.19%; electrical wires, with 1.00%; and plumbing and sanitary equipment and fixtures, with 0.37%.
June
Labor costs in the construction sector, along with some materials such as wire, nails, and zinc, experienced an increase of 12% or more in June, which established that the ICDV stood at 233.12.
Regarding cost groups and subgroups, the main monthly variations were observed in labor with an increase of 12.00%; and in the group of wires, nails, zinc and others with 12.78%, respectively.
According to the monthly bulletin published by the ONE each month, from December 2022 to that date, the index has shown an accumulated increase of 5.79%.
“When comparing the results of June 2024 with those of June 2023, the index has shown a variation of 6.18%,” the organization highlights.
July
The ICDV, in the province of Santo Domingo and the National District, registered an increase of 7.82% to July of this year, reaching 233.84.
The main monthly variations in terms of construction materials were shown in electrical wires, with 8.87%; cements and glues, with 2.53%; plumbing equipment and appliances, with 0.65%; floors and ceramics, with 0.44%.
In the breakdown of categories by the agency, the increases in the seventh month of 2024 were most notable in the materials category with a 0.51% increase; tools with a 0.06% increase. Labor costs remained unchanged at 0.00%.
August
The ICDV fell this month to 227.60, while the main monthly increases were recorded in floors and ceramics, with an increase of 3.02%; blocks and others, with 2.60%; miscellaneous electrical items, with 1.85%; and vaults, with 0.85%; and materials, with an increase of 0.29%.
September
Comparing the results for September 2024 with those of the same period in 2023, the Direct Housing Cost Index (ICDV) registered an increase of 5.43%, according to figures from the ONE (National Statistics Office). It stood at 228.11.
According to the entity's report, the monthly variations show increases in PVC pipes and parts, with 7.80%; blocks and others, with 2.56%; elevators, with 2.06%; steel, with 0.98%; modules, meters and breakers, with 0.68%.
October
The ICDV was 227.59. Although a slight decrease of 0.52 points was recorded, the index showed a cumulative increase of 3.28% since December 2023. In addition, 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.
Materials experienced an increase of 0.63%, machinery rose by 0.08%, and labor remained unchanged.
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%).
November
The statistical report placed the ICDV at 227.22, noting that there was an increase in machinery of 0.06%, subcontracts with 0.01%, while labor remained unchanged.
Decreases were recorded in tools (-0.09%) and materials (-0.22%).
