On Monday, 19 May, the Statistical Service of Cyprus published data on changes in the cost of construction materials in April 2025.
The agency's report says that prices are still going up a bit, which suggests that inflation in the construction sector is stable but not too high.
In April 2025, the Construction Materials Price Index was 19.03 points (based on 2015 = 100), which is 0.18% higher than the month before and 1.54% higher than the same time last year.
The biggest price hikes were for minerals (+3.8%), mineral products (+3.31%), electromechanical equipment (+1.46%), and wood, insulation materials, chemical and plastic products (+0.56%). On the other hand, there was a decrease in prices in the metal products segment (-1.57%) and the heating and cooling sector (-5.8%).
Then, from January to April 2025, the index went up by 1.2% compared to the same period in 2024.
The way some categories grow and decline so differently might be down to a mix of global market trends (e.g. lower demand for metal) and local factors like logistics and domestic demand.
For developers and contractors, the index data is a good way of estimating and forecasting budgets. Just a heads-up that higher prices for major construction materials might mean a higher final cost for real estate. On the other hand, price drops in sectors like heating and cooling might partly balance out the overall rise in costs.
If things keep going like this, we should see a steady market with no big price jumps, which is good news for developers and consumers.