Cyprus building material prices rise from last year

Construction material prices in Cyprus have edged up from last year, despite a monthly dip in May, according to a report from the state statistical service.

Specifically, the Construction Materials Price Index reached 118.92 units in May 2025, based on 2021 base level equal to 100 units.

The index recorded a marginal decrease of 0.09 per cent compared to the previous month.

However, when compared to May 2024, the index showed an increase of 1.34 per cent.

In terms of product categories, increases were observed in minerals by 3.65 per cent, in mineral products by 3.47 per cent, in products of wood, insulating, chemical and plastic materials by 0.48 per cent, and in electromechanical items by 0.37 per cent.

Meanwhile, a decrease was observed in the category of metallic products, which fell by 0.74 per cent.

During the period from January to May 2025, the index registered an increase of 1.23 per cent compared to the corresponding period of 2024.

The statistical service provided further methodological information, explaining that the construction materials monthly price index reflects the changes in material costs faced by contractors.

Price data for the compilation of the index are collected from a sample of suppliers and materials, referring to the 15th day of each month, through telephone and email communication.

The total index is calculated as a weighted average of individual material indices.

The weights reflect the share of each material in the total expenditure for construction materials, derived from import and domestic production values in the base year 2021.

The published index concerns all construction projects and forms a component of the construction cost index, which is also published by Eurostat.

The service also stated that the construction cost index specifically relates to new residential buildings.