SANTO DOMINGO- The Direct Housing Construction Cost Index (ICDV) experienced a decrease of -3.72% when comparing the results of September 2023 with those of September 2022, according to the report of the National Statistics Office (ONE).
The publication highlights that in the past month of September 2023 the ICDV was 216.35 on average, registering a monthly variation of -0.12 percentage points, compared to the previous month which was 216.61.
"When we compare the results of September 2023 with those of September 2022, the index has shown a variation of -3.72%," the report emphasizes.
It adds that from December of last year 2022 to date, the index showed an accumulated variation of -3.59%.
The data establishes that by type of housing, the ICDV was 219.81 for the single-family dwelling of one level; 218.51 for the single-family dwelling of two levels; 212.81 for the multi-family dwelling of four levels, and 214.29 for the multi-family dwelling of eight levels, or more.
The ONE specifies that the main decrease by cost group occurred in materials, with -0.39%; while the main increase was recorded in tools, with 0.49%.
According to the statistics by cost subgroups, the main variations are shown in cements and glues, with 2.33%; aggregates, with 1.86%; paint, with 1.44%; plumbing and sanitary equipment and appliances, with 0.76%; elevators, with 0.72%; miscellaneous electrical items, with -1.78%; PVC pipes and fittings, with -1.90%; steel, with -2.43%; wires, nails, zinc and other items, with -2.47%; and wood, with -4.94%.
The ICDV
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), explains the ONE document.
