Costa Rica: Construction Fell 12% up to June 2019

During the first six months of the year, the construction area processed in the country totaled 1.28 million square meters, an area that is 12% less than that reported in the same period of 2018.

Monday, September 23, 2019

January records the largest construction area in the semester. Houses of less than 40 square meters showed increases in the number of buildings and value, but not in the area with respect to the first half of 2018, reported the National Institute of Statistics and Censuses (INEC).

The official report explains that "... Alajuela is the province with the greatest positive variation in: number of works (4.74%), value of the work (57.24%) and in area in square meters (23.44%).

The comparison of the first semester 2019 with the first semester 2018 shows the existence of a decrease in the relative variation of the activity in the number of works (-8.46%).

For the periods in question the construction of industrial use fell by 62%, falling from 52,193 to 19,590 square meters.

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More on this topic

Construction Went Down 13% in 2018

March 2019

Last year in Costa Rica, permits were processed to build 3.03 million square meters, 13% less than the 3.49 million square meters reported in 2017.

From the National Institute of Statistics and Censuses report:

In 2018, there was a decrease in the number of works (-0.52 %), area (-13.4 %) and value (-5.5 %) compared to 2017.

More Works, Less Construction Area

September 2018

In Costa Rica during the first semester, an increase of almost 7% was reported in the number of works with respect to the same period in 2017, however the amount of constructed area has reduced by 26%.

From a report by the National Institute of Statistics and Census:

Construction Still Not Recovered

July 2018

In the first five months of 2018 the cost of new construction, additions and repairs in Panama fell by 41% compared to the same period in 2017, going from $784 million to $456 million.

The most recent figures from the Comptroller General of the Republic confirm what has been observed in the Panamanian market since last year: a constant decline in the number and value of new construction projects. 

Construction in Costa Rica: Fewer, But Bigger Projects

September 2017

In the first half of this year the number of works fell by 15% compared to the same period in 2016, but the construction area grew by 5%.

Data from the INEC's report "Construction Statistics 2017 - I semester" shows that the increase in relative variation in the construction area can be seen in two destinations: in industry, with a 148% increase, and in trade, with an increase of 68%. The area of construction of works destined to be used for services decreased by 34%.  

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