By Wendy Anders

Private-sector construction in Costa Rica grew in the fourth quarter of 2016 at a year-on-year rate of 10.6 percent, showing a rebound in activity after showing negative rates of growth since the final quarter of 2015 (with the exception of the first quarter of 2016), said Costa Rica’s Central Bank this week.

The amount of construction in the fourth quarter of 2016 was 1,163,279 m2, an increase of 111,090 m2 over the same period in 2015.

Annual growth was observed in both residential and non-residential buildings, which grew at a rate of 18.4 percent and 1.1 percent, respectively.

In the fourth quarter of 2015, residential buildings represented 54.5 percent of the total amount of construction, and non-residential comprised 45.5 percent.

An analysis of this data shows that buildings destined for residential use account for 95 percent of the growth observed in the last quarter of 2016.

Quarterly growth

In quarter-on-quarter terms (the current quarter compared to the previous quarter), private construction exhibits a current growth rate of 5.2 percent, said the Central Bank.