Construction material prices in Cyprus continued to rise in August, with the latest figures pointing to higher costs for developers, contractors and property projects.
The Price Index of Construction Materials reached 123.09 in August 2026, based on 2021=100. That was a small 0.07% increase from July, but the annual rise was much stronger at 3.39%. The figures were published by the Cyprus Statistical Service (CYSTAT) earlier today.
The rise adds to cost pressures facing the construction sector. For property developers, higher material costs can affect project budgets, building schedules and the eventual cost of new homes and commercial property.
Wood, plastics and metals see sharp rises
Several major construction material groups recorded notable annual increases.
Products made from wood, insulation materials, chemicals and plastics rose 4.60% compared with August 2025. Within this group, plastic products recorded the largest increase, at 6.58%, while wood products rose 5.11%. Chemical products were up 3.02%, while insulation materials increased by 1.16%.
Metallic products also rose 4.60% year on year. Iron and steel products increased by 3.90%, while products made from aluminium and other metals rose 5.99%. On a monthly basis, however, metallic products fell by 0.19% in August.
The figures show that the biggest annual pressure is not spread evenly across all materials. Some products are rising much faster than the overall index, while others have seen little change.
Cement prices continue to climb
Minerals recorded a 2.67% annual increase in August. Within the category, cement prices rose 4.79%, while stones increased by 1.30% and mineral aggregates by 0.67%.
Mineral products rose by a more modest 1.35% year on year. Cement products increased by 1.63%, while ceramics rose by just 0.39%.
For developers and builders, these changes matter because materials such as cement, metals, timber and plastics are used across many types of construction. Sustained increases can therefore add to the wider cost of delivering new property.
Electrical fixtures post the biggest rise
Electromechanical products recorded a 3.58% annual increase in August. The strongest rise within the group came from electrical fixtures, up 7.30% compared with the same month last year.
Heating and cooling equipment moved in the opposite direction, falling 1.67% year on year. Other electromechanical products increased by 3.22%.
The mixed performance shows that construction cost trends remain uneven. While several key inputs have become more expensive, some parts of the market have recorded price falls.
Construction material prices remain higher over 2026
Looking beyond August, the index was 2.06% higher during January-August 2026 than during the same period in 2025. This provides a broader measure of construction material costs than the annual August figure alone.
Plastic products recorded a 5.14% increase over the January-August period. Electrical fixtures rose 5.64%, while products made from aluminium and other metals increased by 4.63%.
For Cyprus’s property sector, the latest data underline the continuing importance of construction costs when assessing new development projects. The figures do not measure property prices themselves, but they provide an indicator of the changing cost of building materials.
Source: Statistical Service of Cyprus, Price Index of Construction Materials, August 2026.
