Economy June 11, 2021 | 7:55 am

Construction material prices soar in Dominican Republic

Santo Domingo.- The prices of construction materials continue their upward climb, which worries developers and home builders, and hardware stores, placing them in a bad position when closing and fulfilling a contract.

“It’s a situation that we have been denouncing for more than a year, the sustained rise in construction materials, which has reached a point such that, in that period, the cost per square meter of housing construction has skyrocketed by 30% approximately,” according to Jorge Montalvo, president of the Dominican Association of Home Builders and Promoters (Acoprovi).

He told Diario Libre that products such as PVC pipes have increased 119.09% on average as a category. “For example, within this is the SDR26 ½ x 19 PVC tube, which in March 2020 the unit cost RD$41.93 and currently is around RD$121.07, for a difference of 188.74%