How much does it cost to build a house in Colombia, according to the Dane Icoced index?

How much does it cost to build a house in Colombia, according to the Dane Icoced index?
How much does it cost to build a house in Colombia, according to the Dane Icoced index?

Despite the notable decrease in inflation in Colombia in recent months, costs in several economic sectors continue to be challenging, highlighting the construction sector.

According to the most recent Building Construction Cost Index (Icoced) published by the National Administrative Department of Statistics (Dane), Construction-related costs have seen an annual increase of 3.40% in April.

This increase has not been uniform across the different categories of buildings. Residential buildings registered an increase slightly above the national average, with 3.41%, while non-residential buildings remained slightly below, with 3.37%.

Within the specific segments, house construction has seen an increase of 3.57%, placing it among the sectors with the highest costs, along with education (4.32%) and warehouses (3.58%). On the other hand, segments such as apartments, offices, public administration, hospitals, hotels and commerce have registered increases below the national average.

In the case of housing, the NO VIS presented an annual variation of 3.42%, while the VIS housing had a variation of 3.38%.

Four of the ten destinations related to the construction of buildings were located above the national average, that is, education (4.32%), warehouses (3.58%), houses (3.57%) and other destinations (3 .55%).

Photo:iStock

By cities

Analyzing the variations by city, Cúcuta (3.86%), Villavicencio (3.80%) and Bucaramanga (3.65%) led the greatest increases in prices, contrasting with Popayán (3.01%) and Pasto AU (2.86%), where the smallest variations were observed.

The analysis by cost groups reveals that labor, minor tools and equipment experienced the greatest increases, with annual variations of 8.34%, 7.36% and 6.86% respectively. On the contrary, special construction equipment showed a decrease of 4.19%.

Among the inputs, crews, common concrete and cement contributed the most to the total variation of the index, while network and mesh installation services recorded the most significant negative contributions.

Finally, in terms of year-to-date variation, the Icoced has increased by 4.57% since December 2023. Residential buildings presented the same variation as the total index (4.57%), while the class of non-residential buildings It was below the national average (4.56%).

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*This content was made with the assistance of artificial intelligence, based on information from Portfolio, and was reviewed by the journalist and an editor.

 
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