Costa Rica: Negative Figures for the Construction Sector

The construction industry registered a decrease of 10%, due, according to data from the Central Bank, to less bank financing and to an excess of bureaucratic procedures.

Tuesday, January 9, 2018

The trend cycle series of the quarterly indicator of meters built decreased 10.3% in the fourth quarter of 2017, which is due to less construction of non-residential and residential buildings (-5.1%, -15.1%, in the same order).

From the report "Private Construction" by the Central Bank of Costa Rica:

At the end of 2017, the construction industry had a negative performance (-10.4%), with a differentiated behavior between semesters, as in the first six months of the year it grew 2.7%, while in the second semester it contracted -21.6% due to adverse weather conditions caused by Storm Nate, less bank financing and excessive construction procedures.

The decrease observed is consistent with the decline in construction intentions, which according to the records of the Central Bank of Costa Rica show a contraction of 6.5% for 2017. 

Middle class homes show the greatest weight of the total of residential buildings. Next in importance are upper class housing, social interest housing, and finally residential buildings.

Read full report (in Spanish).

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Nicaragua: Construction at Risk

February 2019

In the third quarter of 2018, the effectively constructed area fell 14% with respect to the same period in 2017, as a result of the 17% decrease in residential construction.

The Central Bank of Nicaragua (BCN) reported that from July to September last year the area effectively built in Managua showed a 17.9% decrease while in other cities the decrease was 7.7%.

Private Construction Falls 8%

November 2018

In the second quarter of this year, the area effectively built in Nicaragua fell 8% compared to the same period in 2017, due to the decrease of 20% in residential construction and 40% in industrial construction.

The Central Bank of Nicaragua (BCN) reported that from April to June of this year the inter-annual behavior was explained by lower effectively constructed area in residential (-19.9%) and industrial (-39.5%) destinations and increase in commercial buildings (25.6%) and in-service works (9.4%).

Costa Rica: Private Construction Down 6%

June 2018

Due to the performance of residential construction, during the first quarter of the year a decrease of 6% was reported in the total constructed area with respect to the same period in 2017.

The Central Bank of Costa Rica reported that " ... In the first quarter of 2018, construction with a private destination reported a total of one million one hundred and fifty-nine thousand square meters built. According to the trend cycle series for the quarterly indicator of meters constructed, this implied a decrease of 6.3% compared to the same period in the previous year."

Nicaragua: Private Construction Up 38%

March 2015

Annual growth registered in the last quarter of 2014 reflected an increase of in completed construction areas, mainly industrial, commercial, residential and service works buildings.

From a report issued by the Central Bank of Nicaragua "Performance of private construction":

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