Cyprus construction material up 2.91% in 2023

According to the Cyprus Statistical Service (Cystat), the prices of construction materials show a small increase. The Construction Materials Price Index for  2023 recorded an increase of 2.91 per cent per compared to the corresponding period of 2022.

The rise in the index in 2023, as reported by the Cyprus Statistical Service, can be primarily attributed to significant price increases in various construction materials. Notably, Portland cement experienced a substantial surge of 39.39 per cent, followed by slabs, mosaics, and concrete bricks at 14.61 per cent, a mix of gravel and sand for pavement at 13.89 per cent, crushed gravel for concrete at 12.63 per cent, and ready-mixed concrete at 12.13 per cent.

On the contrary, the prices of some materials decreased compared to 2022. The main ones are: building iron (-18.66 per cent), structural mesh (-12.44 per cent) and structural steel (-12.27 per cent).

The Index for the month of December 2023 marking an increase of 0.14 per cent compared to the previous month.

Compared to the corresponding month of the previous year, the index registered an increase of 0.45 per cent. By main product category, increases were recorded in minerals (13.98 per cent), mineral products (5.80 per cent) and wood, insulating, chemical and plastic products (0.45 per cent), while decreases were observed in metal products ( -7.39 per cent) and in electromechanical items (-0.14 per cent).