Construction Material Costs in Cyprus Surge by 3.39% in August 2026

Construction material prices in Cyprus continued their upward trend in August 2026, impacting developers, contractors, and anyone involved in property development projects. According to the latest data from the Cyprus Statistical Service (CYSTAT), the Price Index of Construction Materials climbed to 123.09 based on 2021=100. This marks a modest 0.07% rise compared to July, but a sharper annual increase of 3.39% compared to the same month last year.

Uneven Growth Across Material Categories

The annual increase masks some significant variation among material types. Wood, plastics, chemicals, and insulation products led the surge with an overall 4.60% rise. Plastic products topped this category with a 6.58% jump, while wood products increased by 5.11%. Chemical goods grew by 3.02%, and insulation materials by 1.16%.

Metallic materials also experienced a 4.60% year-on-year uplift, driven by aluminium and other metals climbing 5.99%, and iron and steel products rising 3.90%. Interestingly, metal prices saw a slight dip of 0.19% from July.

Cement and Minerals: Steady Price Climb

Minerals, essential in construction, saw a 2.67% annual price hike, with cement prices notably increasing by 4.79%. Stone and mineral aggregates recorded smaller gains of 1.30% and 0.67%, respectively. Meanwhile, mineral products overall grew by 1.35% year on year, highlighting a more moderate rise compared to other categories.

Electromechanical Products Show Mixed Trends

Electromechanical construction-related items posted an overall 3.58% increase. The biggest spike came from electrical fixtures, which soared 7.30% annually. Yet, heating and cooling equipment prices fell by 1.67%, reflecting uneven cost pressures across the sector.

Implications for Cyprus Property Market

These sustained price increases in vital materials—cement, metals, plastics, and wood—have tangible effects on construction budgets and timelines. Developers need to factor these rising costs into their projections, which can influence property pricing across the island.

Between January and August 2026, construction material prices were 2.06% higher than the first eight months of 2025. Notably, plastic products rose 5.14% and electrical fixtures 5.64% in this period, alongside aluminium and other metals at 4.63%.

For buyers looking at Cyprus real estate, such as Cheap Apartments for Sale Cyprus or those interested in exploring Plots of Land for Sale, understanding these cost dynamics is key. While these indices don’t directly track property prices, they offer insightful indicators of the underlying costs shaping the market.

Source: Statistical Service of Cyprus, Price Index of Construction Materials, August 2026.