Cyprus Building Costs Continue to Rise as Construction Material Prices Increase in June

Construction costs in Cyprus continued their upward trend in June 2026, with prices for key building materials rising across most categories, according to the latest data from the Cyprus Statistical Service (Cystat).

The Construction Materials Price Index reached 122.74 points (base year 2021 = 100), marking a 0.55% increase from May and a 3.12% year-on-year rise compared with June 2025. Over the first six months of 2026, construction material prices averaged 1.62% higher than the same period last year.

Metal products recorded the strongest annual growth among the major categories, increasing 5.02% year-on-year. Aluminium and other non-ferrous metals led the gains, with prices jumping 7.56%, while iron and steel products rose 3.76%.

Wood, insulation materials, chemicals and plastics also saw significant increases, with the category up 4.07% annually. Plastic products climbed 6.53%, while wood products rose 4.38%. Chemical products posted the largest monthly increase, advancing 1.29% from May.

Electromechanical products increased 2.99% year-on-year, largely driven by electrical fixtures, whose prices surged 6.23% compared with a year earlier. In contrast, heating and cooling equipment was the only subcategory to record declines, with prices falling 1.67% annually.

Mineral materials also continued to become more expensive. Cement prices reached the highest index level among all tracked materials, rising 3.82% year-on-year, while aggregates and stone recorded more moderate increases.

Meanwhile, mineral products experienced the smallest overall increase, rising just 0.61% compared with June 2025. Ceramic products remained broadly stable year-on-year despite a modest monthly increase.

The latest figures suggest that Cyprus’ construction sector continues to face persistent cost pressures, particularly in metals, plastics and electrical components, factors that could contribute to higher development costs and support elevated property prices in the months ahead.