Construction in Costa Rica in 4th Quarter 2015

Private construction fell by 2.6% as a result of the construction of middle-class housing, which accounted for 40% of all residential buildings, recording a drop of 15%.

Tuesday, January 19, 2016

Constructions for the private sector went down by 2.6% yoy in the fourth quarter 2015. According to a report by the Central Bank of Costa Rica (BCCR), the contraction is mainly explained by residential buildings, which fell to an annual rate of 15%, with middle class homes and residential buildings showing the biggest declines.

According to a statement by the governing "body ... middle-class homes continue to lose importance in the construction of residential projects. For the fourth quarter 2015, they accounted for 40% of all residential buildings, 5 points less than in the previous quarter. "

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Costa Rica: Construction Figures up to June 2015

August 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.

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.

Construction Continues to Contract in Costa Rica

September 2014

In the first seven months of the year the number of square meters approved for construction of new buildings fell by 10,1% compared to the same period in 2013.

From a statement issued by the Costa Rican Chamber of Construction (CCC):

In the first 7 months of this year, the number of square meters processed fell by 10.1% compared to the same period last year.

Costa Rica: Condo Building Keeps Growing

May 2014

The proportion of this type of housing out of the total square meters authorized for construction in the country went from 19% in 2010 to 23% in 2013.

A total of 1.6 million square meters have been occupied by condominiums in the last two years, 85% more than in the previous biennium.

Construction Sector Declines in Costa Rica

November 2011

In 2011, 17% less square meters were constructed as compared to 2010, when projects undertaken covered 6 million square meters.

The sector has failed to recover and with the economic uncertainty that looms for 2012, forecasts for next year by the College of Engineers and Architects (CFIA in Spanish) are very conservative.

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