What the latest figures show
Construction material prices in Cyprus continued to rise in September, according to data published by the Statistical Service (Cystat). The overall price index reached 123.41 points, using 2021 as the base year set at 100. The index rose by 0.26 per cent over the month and by 3.74 per cent compared with September of the previous year.
The annual rate of increase was higher than in August, when it stood at 3.39 per cent. Monthly growth also picked up, from 0.07 per cent in August. Across the first nine months of the year, material prices were on average 2.24 per cent higher than in the same period of the previous year. For anyone planning a build or renovation, the direction of travel is clear: costs have not yet levelled off.
Which materials are driving the increase
The figures are grouped into five main categories. Metallic products recorded the largest annual rise, up 5.28 per cent, with the index standing at 111.72 points. Within this group, products made from aluminium and other metals reached 124.03 points and were 5.68 per cent higher than a year earlier, although they fell slightly month on month. Iron and steel products rose by 5.07 per cent annually.
The second-fastest rising category was wood, insulation, chemicals and plastics, which increased by 5.06 per cent year on year. Plastic products posted the strongest annual gain in this group at 6.43 per cent. Wood products rose by 5.49 per cent, while insulation materials and chemical products increased by 2.90 per cent and 3.37 per cent respectively.
Electromechanical products also moved up, with the category as a whole 4.08 per cent higher year on year. Electrical fixtures showed the steepest annual rise of any listed subcategory, at 8.38 per cent. By contrast, heating and cooling equipment was 1.70 per cent cheaper than in September 2025, making it the only subcategory in this review to show a fall over the year.
Minerals, stone and ceramics
The minerals category, which includes cement and aggregates, rose by 2.81 per cent annually. Cement prices were up 4.77 per cent on the year and reached the highest index level among the subcategories listed, at 144.87 points. Stone prices increased by 1.80 per cent, while mineral products rose by 1.35 per cent.
Ceramics were the most stable area in the data. Prices were up only 0.42 per cent on September 2025, and their average for the first nine months was 0.95 per cent lower than in the same period a year earlier.
What this means for buyers and investors
- Build costs are still rising. Developers and self-builders should expect continued pressure on budgets, particularly for metal, plastic and electrical components.
- Fixed-price contracts carry risk. If a builder quotes a price without a material price adjustment clause, the contractor may bear the cost increase, or the buyer may face a dispute later. Review contract terms carefully with a lawyer.
- Renovation budgets need contingency. Electrical fittings and plumbing-related materials have seen notable increases, so a realistic allowance is sensible.
- Index data is a guide, not a forecast. Monthly and annual movements vary by product, and this data does not predict future prices for any specific project.
Points to check before committing
Buyers commissioning a new build or significant works should ask for an itemised quotation, confirm whether price escalation is included, and agree a clear payment schedule linked to completed stages. Understanding how material costs affect the contract price is part of managing the overall investment.
Where construction contracts or sale agreements are involved, check the current rules on contract terms, deposits and property registration with a Cyprus lawyer or qualified tax adviser, as these arrangements can change and depend on individual circumstances.
Key takeaways
- Cyprus construction material prices rose 3.74 per cent year on year in September, to an index of 123.41.
- Metallic products and plastics recorded some of the largest annual increases, while heating and cooling equipment fell.
- Cement, electrical fixtures and aluminium products stood out in the category figures.
- Buyers and developers should build contingency into budgets and review how price changes are handled in their contracts.