SANTO DOMINGO- In October 2023, the Direct Housing Construction Cost Index (ICDV) averaged 215.50, registering a monthly variation of -0.40 percentage points, compared to the previous month which was 216.35, according to the report offered by the National Statistics Office (ONE).
“From December 2022 to date, the index has shown a cumulative variation of -3.98%. When we compare the results of October 2023 with those of October 2022, the index has shown a variation of -4.67%,” the report highlights.
According to the research, by type of housing, the ICDV was 219.42 for single-family housing on one level, 217.23 for single-family housing on two levels, 211.58 for multi-family housing on four levels, and 213.75 for multi-family housing on eight levels or more.
The variation in ICDV by cost group was as follows: machinery with -0.02%, subcontracts with 0.28%, tools with -5.00%, materials with -0.64%, and labor with 0.00%.
The ONE establishes that by cost subgroups, the main variations are shown in carpentry subcontracting, with 1.31%; wood, with 1.05%; aggregates, with 0.37%; miscellaneous electrical items, with 0.25%; equipment and appliances for water and sanitary installations, with 0.14%; paint, with -1.51%; wires, nails, zinc and others, with -1.73%; steels, with -3.04%; tools, with -5.00%; and floors and ceramics, with -6.96%.
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).
