Starting January 2025, the cost of ready-mix concrete in Cyprus will increase by 5%, following a recent agreement to resolve workers\u2019 strikes over wage demands, according to industry reports from in-cyprus.philenews.com.<\/p>\n
The price adjustment will see a \u20ac4 per cubic meter hike, projected to generate an additional \u20ac14 million annually for concrete companies, based on the industry\u2019s estimated annual production of 3.5 million cubic meters.<\/p>\n
Concerns Over Price Justification<\/strong> This price rise will affect both private and public sectors. Building an average private home is expected to cost an additional \u20ac2,000, while large-scale public construction projects requiring significant amounts of concrete will incur even higher costs, potentially burdening taxpayers.<\/p>\n Additional Cost Increases<\/strong> The Cyprus Chamber of Commerce and Industry (KEBE) noted that price increases vary across companies, with some yet to implement changes. While KEBE acknowledged the justification for some increases, such as higher labour and raw material costs, they stressed the need for pricing to remain reasonable to avoid wider economic repercussions.<\/p>\n Calls for Government Oversight<\/strong> As the construction sector braces for these changes, the impact on the economy and taxpayers is expected to be significant.<\/p>\n Source: in-cyprus.philenews.com<\/em><\/p>","protected":false},"excerpt":{"rendered":" Starting January 2025, the cost of ready-mix concrete in Cyprus will increase by 5%, following a recent agreement to resolve workers\u2019 strikes over wage demands, according to industry reports from in-cyprus.philenews.com. The price adjustment will see a \u20ac4 per cubic meter hike, projected to generate an additional \u20ac14 million annually for concrete companies, based on […]<\/p>","protected":false},"author":9,"featured_media":108997,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[211],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lamaisonestates.com\/he\/wp-json\/wp\/v2\/posts\/108996"}],"collection":[{"href":"https:\/\/www.lamaisonestates.com\/he\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lamaisonestates.com\/he\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lamaisonestates.com\/he\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lamaisonestates.com\/he\/wp-json\/wp\/v2\/comments?post=108996"}],"version-history":[{"count":1,"href":"https:\/\/www.lamaisonestates.com\/he\/wp-json\/wp\/v2\/posts\/108996\/revisions"}],"predecessor-version":[{"id":108998,"href":"https:\/\/www.lamaisonestates.com\/he\/wp-json\/wp\/v2\/posts\/108996\/revisions\/108998"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lamaisonestates.com\/he\/wp-json\/wp\/v2\/media\/108997"}],"wp:attachment":[{"href":"https:\/\/www.lamaisonestates.com\/he\/wp-json\/wp\/v2\/media?parent=108996"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lamaisonestates.com\/he\/wp-json\/wp\/v2\/categories?post=108996"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lamaisonestates.com\/he\/wp-json\/wp\/v2\/tags?post=108996"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nWhile the price increase is attributed to covering higher labour costs, construction industry experts argue that the hike far surpasses the actual wage impact. They estimate labour cost adjustments at just 1.5%, suggesting that the remaining 3.5% increase will boost company profits.<\/p>\n
\nThe situation is compounded by quarries announcing their own price adjustments, with rates increasing by \u20ac1 per tonne, representing a 10\u201315% rise.<\/p>\n
\nSome professionals within the construction sector have called for government intervention, citing potential cartel-like behavior among concrete suppliers. For public projects, contractors can claim the additional costs from government authorities, a process that may lead to increased public expenditure.<\/p>\n