SANTO DOMINGO- Although the Direct Housing Cost Index (ICDV) has registered an increase of 3.11% since December 2023, most costs showed decreases in the penultimate month of 2024, according to the latest report released by the National Statistics Office (ONE).
Similarly, in October the agency's report established decreases in key materials and tools for the construction sector.
The national statistics agency states that most inputs experienced decreases in November, others remained the same, while the rest showed minimal increases.
However, the data indicates that when comparing the results of November of last year with the same period in 2023, the index has shown a variation of 5.56%
The report details that in November 2024 the CDV was 227.22 on average, registering a decrease of -0.37 points, compared to the previous month which was 227.59. By types of housing, the ICDV was 231.50 for the single-family home of one level; 229.46 for the single-family home of two levels.
He adds that for the four-level multifamily building the value was 224.02 and 223.89 for the eight-level or more multifamily building.
Variations in materials
The statistical report explains the variations in the costs of construction materials for November 2024, 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%).
The ONE highlights that by cost subgroups, the variations were evident in miscellaneous electrical items which showed an increase of 0.97%, followed by elevators with 0.58%, and electrical accessories, wires, nails, zinc and others with 0.18%.
“The cost of vaulted ceilings increased by 0.17%. In contrast, the largest decreases were recorded in the costs of flooring and ceramics, with a drop of 2.32%, followed by paint, with a decrease of 1.34%. Aggregates showed a variation of -0.80%, steel a decrease of 0.52%, and modules, meters, and breakers a decrease of 0.50%,” the report states.
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).
October
During the month of October of last year, the ICDV registered a slight decrease of 0.52 points, reaching an average value of 227.59, compared to the 228.11 points registered in September 2024.
Decreases were recorded in key materials such as tools, which fell by -4.89%, and in components such as paint (-5.63%), plumbing and sanitary installations (-3.65%) and hollow blocks which fell by (-3.12%).
