Cyprus Construction Costs Continue to Rise as Material Prices Increase in July 2026
Construction costs in Cyprus remained under pressure in July, with prices for construction materials continuing to move higher compared with a year earlier.
According to figures published by the Statistical Service of Cyprus (CYSTAT) on 18 August, the country’s Construction Materials Price Index stood at 123.00 points in July 2026, using 2021 as the base year.
The index was 3.33% higher than in July 2025, while construction material prices also edged up 0.23% from June 2026.
Looking at the first seven months of the year, prices were on average 1.87% above the level recorded during the same period in 2025.
Electrical Materials See the Sharpest Increase
The rise in construction costs has been particularly noticeable in several categories of building materials.
Between January and July 2026, electromechanical goods recorded the highest increase among the main groups, with prices rising by 2.69%.
The category covering wood, insulation, chemical and plastic products followed with a 2.60% increase, while metal products rose by 2.23%. Prices for mineral products increased by 1.97%.
Some individual product categories saw considerably stronger growth.
Electrical materials increased by 5.40% over the seven-month period, followed by plastic products at 4.94% and aluminium and other metal products at 4.43%.
Not every category moved higher, however. Ceramic products declined by 1.34%, while prices for heating and cooling equipment fell by 1.11%.
Elsewhere, iron and steel products recorded a 1.13% increase. Cement products and stone rose by 1.74% and 1.51%, respectively.
Year-on-Year Growth Remains Strong for Electrical and Plastic Products
The annual figures provide a clearer picture of where construction cost pressures are concentrated.
In July 2026, electrical materials were 6.61% more expensive than a year earlier, representing the largest year-on-year increase among the individual material categories.
Plastic products followed closely, with prices rising 6.58%, while aluminium and other metal products increased by 6.14%.
Wood products also experienced notable annual growth, rising by 5.12%. Within the same broader category, chemical products increased by 2.80%, while insulation materials rose by 1.16%.
The overall metal products category recorded a 4.94% annual increase, including a 4.32% rise in iron and steel products.
Cement and Other Mineral Products Also Become More Expensive
Mineral-based construction materials continued to experience moderate price increases during the year.
Cement products recorded a 3.88% increase compared with July 2025. Aggregate prices rose by 1.56%, while stone increased by 1.30%.
Cement-based products were also slightly more expensive, recording a 1.20% annual increase.
Ceramic products, meanwhile, remained relatively stable, with prices increasing by just 0.23% year on year.
The broader electromechanical goods category rose by 3.29% annually. Other electromechanical products increased by 3.22%, while heating and cooling equipment was the exception, declining by 1.67%.
What the Figures Mean for Cyprus Property Development
The latest data suggest that construction-related costs in Cyprus are still facing upward pressure, although the pace of growth varies considerably between different types of materials.
The strongest increases are currently concentrated in electrical, plastic and metal products, all of which are important components of modern residential and commercial developments.
For developers and contractors, fluctuations in material prices can directly affect construction budgets, development costs and the eventual pricing of newly built properties.
As Cyprus’s real estate and construction sectors continue to evolve in 2026, material costs will therefore remain an important factor to watch for both property developers and investors.