By Gissel Taveras
El Inmobiliario
SANTO DOMINGO.-The report offered by the National Statistics Office (ONE) reveals that in May 2024 the Direct Cost Index of Housing Construction (ICDV) was 224.24 on average, registering an increase of 0.51 points, compared to the previous month which was 223.73.
From December 2022 to date, the index showed a cumulative variation of 1.76%.
Comparing the results of May 2024 with those of 2023, the index has varied by 2.60%.
By type of housing, the ICDV was 225.36 for single-family housing on one level; 226.41 for single-family housing on two levels; 219.97 for multi-family housing on four levels; and 225.19 for multi-family housing on eight levels or more.
Regarding cost groups, 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%.
On the other hand, decreases were recorded in machinery with -0.24%; and, materials with -0.63%.
Regarding the cost subgroups, the main variations are shown in carpentry subcontract, with 5.77%; tools, with 3.29%; elevator, with 1.61%; blacksmithing subcontract, with 1.19%; electrical wires, with 1.00%; and plumbing and sanitary equipment and fixtures, with 0.37%.
On the other hand, decreases were observed in wires, nails, zinc and others, with -1.64%; pipes and PVC pieces, with -1.64%; vaults, with -5.32%; paint, with -6.78%.
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).
