Construction material prices in Cyprus have slightly increased year-on-year, despite a minor dip in May 2025, according to the Cyprus Statistical Service. The Construction Materials Price Index stood at 118.92 units in May 2025 (with 2021 as the base year at 100 units), marking a 0.09% decrease compared to April 2025. However, compared to May 2024, the index rose by 1.34%, highlighting ongoing annual inflation in construction costs.
Price increases were noted across several product categories: minerals rose by 3.65%, mineral products by 3.47%, wood, insulating, chemical, and plastic materials by 0.48%, and electromechanical items by 0.37%. In contrast, metallic products saw a decline of 0.74%. For the cumulative period of January to May 2025, the index increased by 1.23% compared to the same period in 2024.
The index is compiled monthly from supplier data, based on prices around the 15th of each month, collected through phone and email. It reflects the cost changes contractors face and feeds into broader indicators like the construction cost index, which focuses on new residential buildings and is also published by Eurostat.
This data is crucial for developers, contractors, and investors monitoring trends in the Cyprus construction and property market.
Source: Cyprus Mail (June 2025)