NewsWhore
07-29-2008, 03:30 PM
The prices of construction materials have increased 5% to 50% during the first six months of the year. Luis Mejia, president of the Dominican Hardware Federation, says that sales for cement, metal rods, gravel, paint, woods, steel and all other building materials are down because of the higher prices. A bag of cement which cost RD$220 now costs RD$250 while a quintal of metal rods went from RD$60,000 to RD$69,000. Cristian Maluff, VP of the Dominican Construction Chamber (Cadocon) said the increase in material prices and the increase in bank interest rates are a dangerous mix for the real estate sector. He added that since last October real estate prices have gone up 15%. He also explained that many Dominicans have put their construction projects on hold because of the price hikes.
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More... (http://www.dr1.com/index.html#8)