Costa Rica: Construction Figures up to June 2015

The amount of square metres of construction in applications for permits up to June 2015 decreased by 7% compared to the same period in 2014, with office buildings and industry leading the decline, with negative rates of 22% and 10%, respectively.

Tuesday, August 18, 2015

Data from the Costa Rican Chamber of Construction shows the decline in the number of square meters of construction being processed with the Association of Engineers and Architects.

The total construction area processed up to June 2015 amounts to 6.095.763 square meters, up 6.8% from the 6,544,021 processed in the same month in 2014.

By type of building, the number of square meters processed for housing fell from 3.3 million in June 2014 at 3.2 million in June this year, down 4%. The subcategory single family homes recorded a slight increase of 0.2%, while the processed area for condominiums fell y 18.5% going from 753215 to 613938 square meters.

In the case of the construction of buildings for industrial use, the reduction was 9.7% going from 720141 to 650358 square meters between July 2014 and June 2015.

In the category of offices, the reduction was 22.7%, going from 688.579 square meters processed up to June 2014 to 532548 square meters up to June 2015.

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Between January and July of this year, works were processed in Costa Rica equivalent to 6.05 million square meters of construction, an area that exceeds in just 2% the reported in the same period of 2018.

The report prepared by the Federal College of Engineers and Architects (CFIA) records a slight increase in the area built between January and July 2018 and the same period of 2019, going from 5.93 million m2 to 6.05 million m2.

Costa Rica: Construction Fell 13% in 2017

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The builders' association has reported that 6.4 million square meters were processed in 2017, 13% less than in 2016.

In a statement from the Costa Rican Chamber of Construction (CCC), the president of the organization, Jorge Arturo González, said that "... 'this slowdown highlights the need to boost private sector investment in construction, which has stopped not only because of political uncertainty, typical of an election year, but also due to excessive procedures, high financing costs, legal uncertainty, low competitiveness in infrastructure and high construction costs, among other things'." See report by the CCC (in Spanish).

Costa Rica: Construction Up 13% in 2016

January 2017

7.4 million square meters, of which 50% corresponded to housing, 28% to commercial buildings, 8% to offices and the rest to industrial and other buildings have been officially processed.

From a report by the Association of Engineers and Architects (CFIA):

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In 2013 the number of building permits requested for hotel establishments across the country dropped by 62% compared to 2012.

The number of square meters authorized in the last 12 months between February 2013 and January 2014 fell to 47,515 m2 compared with the 126,036 m2 in the previous period, according to the Costa Rican Chamber of Construction.

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