Since the beginning of the coronavirus pandemic in Cyprus, not only the construction of new apartments and houses has risen in price, but the repair of secondary real estate.
The average annual growth was 25%. This is primarily due to the rise in prices for finishing materials, especially imported ones.
During the coronavirus pandemic and the quarantine measures adopted in Cyprus, as well as in other countries, air and other transport links with importers were complicated, thus the cost of delivery almost doubled. At the same time, the delivery time for certain goods has also increased.
The highest rise in prices affected finishing materials: paint, electrics, flooring, interior doors, and more. Moreover, the cost of such materials in the total cost of repair is about 60%. Materials such as putties, groutings, primers, plaster mixes, plywood and drywall also showed an average increase.
The cost of tiles in the first seven months of the year increased by 1.42% compared to the same period last year, bricks price - by 8.78%, sanitary ware - by 8.05%.
The cost of cabinets and racks increased by 4.72%, doors and windows - by 3.66%, raw wood - by 12.06%, plywood, MDF, parquet, laminate - by 7.08%. The increase in thermal insulation materials was 10.36%, waterproofing - 0.79%
In electrical materials, the largest growth was recorded for cables - 19.18%, and sockets, switches, fuses and insulators - 8.69%, while lamps increased 0.48% in seven months of the year.
As for the steel products, prices for steel pipes rose 26.66% over seven months of the year, for iron railings - 23.03%, for roofs / sheds and metal parts made of plasterboard and cement slabs - 19.96%, and for mesh - 14. 2%.
Marble prices rose 2.18%, while prices for granite and decorative stone remained stable. In turn, in seven months of 2021, aluminum doors and windows rose in price by 2.14%, railings and aluminum bars - by 3.96%.
As for heating and cooling products, prices for boilers increased by 1.65%, central heating systems - 3.11%, fireplaces - 4.85%. At the same time, prices for air conditioners, on the contrary, decreased by 4.85%. Prices for solar and electric water heaters increased by 5.43%, pumps, pressure switches and water filters - by 2.26%, elevators - by 1.29%.
In addition to the increase in prices for construction and finishing materials, due to the pandemic and closed borders in Cyprus, there is also a shortage of labor.
Those who went home during the quarantine cannot return to the country, and the remaining workers are now asking for a fee 10-30% higher than last year's wages for their work.
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