The cost of building in Cyprus continues to see a moderate upward trend, with the Construction Materials Price Index rising by 1.28% during the first eleven months of 2025 compared to the same period in 2024. According to the latest figures from the Cyprus Statistical Service (Cystat), while the overall year has been marked by growth, the most recent monthly data shows a slight cooling in material expenses.
November Snapshot: A Marginal Monthly Cooling
In November 2025, the price index reached 118.63 points (using 2021 as the base year of 100). Interestingly, while costs are up on an annual basis, November actually saw a 0.34% decrease compared to October 2025. This suggests a brief stabilization in the market after months of steady climbs.
On a year-over-year basis (November 2025 vs. November 2024), the index recorded a 1.16% increase, highlighting that developers are still paying more for essential supplies than they were twelve months ago.
Category Breakdown: Minerals Surge as Metals Dip
The overall increase in the index was driven primarily by raw minerals and processed building materials, while technological and metal-based items offered some relief to contractors.
| Material Category | Annual Price Change (%) | Trend |
| Minerals | +3.65% | 📈 Increasing |
| Mineral Products | +3.01% | 📈 Increasing |
| Wood, Insulation, Chemicals & Plastics | +1.44% | 📈 Increasing |
| Metal Products | -0.99% | 📉 Decreasing |
| Electromechanical Items | -1.61% | 📉 Decreasing |
As shown in the data, the sharpest price hikes were felt in minerals and mineral products (such as sand and stone aggregates), which are foundational for nearly all infrastructure and residential projects. Conversely, the drop in metal products and electromechanical items may provide a slight offset for developers during the finishing stages of construction.
Context and Methodology
The index, maintained by the Statistical Service, serves as a vital barometer for the construction sector, reflecting the actual costs incurred by contractors for materials excluding VAT. With the base year set at 2021, the current level of 118.63 indicates that construction materials are, on average, 18.63% more expensive today than they were four years ago.
Source: Stockwatch.com.cy