Cyprus Property News magazine for overseas buyers & real estate investors

Wednesday 15th July 2020
Home Property Statistics Construction cost up 72.9% in 6 years

Construction cost up 72.9% in 6 years

According to CYSTAT (the Cyprus Statistical Service) data released on Thursday, the construction cost in Cyprus soared 72.9% in the past 6 years. In the second quarter of 2006, the producer price index stood at 171.2 points against 99 points in the corresponding period of 2000.

Compared with the second quarter of 2005, the producer price index increased by 9.3%.

It is noted that the construction cost includes the material cost, the labour cost and the contractors’ profit.

Sources support that the increase in the construction cost is linked to the price hike on fuel.

The Production Index in the second quarter of 2006 showed an increase of 6.9% compared to the corresponding period of 2005.



EUR - Euro Member Countries


COVID-19 hits new homes in Cyprus

Permits for the construction of new homes in Cyprus fell by more than a half during April; the second month during which the COVID-19 containment measures continued to apply.

Cyprus’ largest ever housing project will help low-income families

Limassol municipality and the Land Development Corporation (KOAG) reached an official agreement on Thursday regarding the establishment of the largest housing project ever undertaken in Cyprus, worth €100 million.

Corrupt lawyers continue to plunder estates

Corrupt lawyersin Cyprus continue to plunder the estates of their deceased clients by calculating their fees for administering estates on the Cyprus Bar Association's 'Minimum Fee Regulations', which were abolished in 2018

Cyprus house price index up 2.5 per cent

The Cyprus house price index rose by an average of 2.5 per cent in the first quarter of 2020 compared to the previous quarter according to official figures from the Cyprus Statistical Service (CYSTAT)