Construction costs in Cyprus continue to rise

The construction materials price index reached 119.03 units in June, based on 2021 as the reference year, according to official data released on Friday.

The Cyprus Statistical Service (Cystat) reported that this figure represents a marginal increase of 0.07 per cent compared to May of this year.

In addition, on an annual basis, the index recorded an increase of 1.33 per cent compared to June 2024.

For the period from January to June 2025, the index rose by 1.25 per cent in comparison with the same period in 2024.

In terms of commodity categories, notable annual increases were recorded in minerals at 3.56 per cent, mineral products at 3.24 per cent, and products of wood, insulation materials, chemicals and plastics at 0.83 per cent.

By contrast, decreases were observed in metallic products at minus 0.61 per cent and electromechanical products at minus 0.10 per cent.

The construction materials price index tracks changes in the cost of materials used in construction, reflecting expenses typically borne by contractors.

Prices are collected each month based on a representative sample of materials and suppliers, with the reference date for prices being the 15th of each month.

All prices are recorded excluding VAT, and data is collected either via telephone or e-mail.

The indices are benchmarked to the year 2021, with the monthly average for that year set at 100.

For example, a price index of 101.56 in any given month would mean that the price of a material has increased by 1.56 per cent compared to its average price in 2021.