Cost of building housing decreased 6.19% in one year

Photography for illustrative purposes. (Archive/CRH).

The drop in the prices of some materials reduced the cost to build social housing in Costa Rica in one year.

This is indicated by the interannual variation of the Social Interest Housing Price Index published this Tuesday by the National Institute of Statistics and Censuses (INEC).

This indicator registered an interannual variation of -6.19% between February 2023 and the previous January. Its monthly variation in January was -0.03%.

The monthly decrease was due to the decrease in the prices of materials such as rod ≠4 grade 40RTG structure, electrical installations, lugging and washing basins.

According to INEC, the Building Price Index also showed an interannual variation of -10.57% and its monthly variation in January was -1.26%.

Its monthly decrease was influenced by decrease of the prices of materials such as the profile for suspended ceiling, transformer, PVC conduit tube and lining of beams and columns.

Of the 20 construction price indices calculated by INEC, 12 decreased7 showed no variation and only one registered an increase compared to December 2023.

“In January 2024, most of the indices decreased compared to the previous month. This was mainly due to the fact that some construction materials dropped in price and the exchange rate decrease of the dollar that was recorded during the month of January,” he explained Nelson Castillocoordinator of the INEC Price Index Unit.

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