2006News

Lower prices spur construction

Among all of the different sectors of the Dominican economy, the reduction of costs within the construction sector is most notable. The prices of the basic inputs for the industry have fallen between 20.5% and 41% in 2005, after having risen by as much as 197% in 2004. For example, cement dropped by 41%, after rising 57% in 2004. Paint fell 20%, and rebar fell 34.9% over going up 197% in 2004. Also aiding the construction resurgence is the lower mortgage rates being offered by the savings and loan associations.

According to Central Bank numbers, the sector grew by 6.2% during 2005.