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Dominican Republic: There is a strong increase in housing materials

In the Dominican Republic, a 25.1% increase in the prices of housing construction materials was recorded this year compared to 2019, according to data from the Regional Center for Sustainable Economic Strategies (CREES), which is based on the Direct Cost Index of Housing Construction (ICDV) of the National Statistical Office (ONE).

According to the monthly digital bulletin corresponding to June 2021 of the ONE, the ICDV was 198.46 on average, registering an increase of 5.85 points, compared to May of this year, which was 192.61, when the main increases were in tools, with 48.53%, and in machinery with 6.11%.

In addition, the ICDV recorded a monthly variation of 3.05%. This result is higher than that presented in the same period of 2019, which was 2.38%. By type of dwelling, the ICDV was 205.12 for single-family housing of one level, 197.59 for the two-level single-family house, 193.68 for the four-tier multifamily, and 197.45 for the eight-tier multifamily, or more.”

Representatives of the Dominican Association of Builders and Developers of Homes (Acoprovi) indicated that the increases applied in the main inputs used in the construction sector raised to 31.5% of the costs of real estate projects in execution.

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