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Cyprus property construction costs

The Cyprus Statistical Service (CySTAT) has just published a report detailing the construction costs of Cyprus property, including houses, apartments, holiday apartments, hotels, etc.

Cyprus property construction costs reportA REPORT of construction costs of Cyprus property completed in the private sector between 2000 and 2017 has recently been published by the Cyprus Statistical Service.

In addition to construction costs of houses, apartments and holiday apartments, the full report contains the construction costs of other types of Cyprus property such as shops and offices, hotels, restaurants, clinics, and churches.

The construction cost includes:

  • expenses for architectural designs, civil, electrical, mechanical engineering and energy efficiency studies,
  • fees for the issuing of planning and building permits,
  • labour expenses and costs for building materials,
  • the cost of services of the main building contractor and
  • value added tax (VAT), where applicable.

(The construction cost does not include the value of the land.)

The table below is an extract of the CyStat report listing the construction costs of residential property.

Cost/m2 of Dwellings Completed in the Private Sector, 2000-2017 (Euros)

Year of
Completion
Area
(000’s m2)
Dwellings
(Average Cost)
HousesApartmentsHoliday
Apartments
Room
Additions
2000932571578531572
20011,223574584554567
20021,163598603574569
20031,472624632588598
20041,754,054654665617654
20052,471,809692711653690
20062,458,231736763689745
20072,497,739771803726747699
20082,755,297808844763827812
20092,551,565842896782788829
20102,114,695869920807953768
20111,607,5258999438271,044892
20121,163,876929988834738824
2013752,502949976900891824
2014462,540960989895750833
2015441,8949761,0098400892
2016542,9559931,019910700973
2017609,3111,0351,086869972714

Further reading

Cost per square metre of buildings completed in the private sector, 2000-2017 (annual figures)

Readers' comments

Comments on this article are no longer being accepted.

  • Deanna says:

    Bloomin’eck, that’s one, big bubble in the middle…..before it started leaking air.

    But, to add, the cost to buyers – surprise surprise, don’t follow the same pattern……..

    Ed: Prices (cost to buyers) are determined by what they are prepared to pay.

  • The views expressed in readers' comments are not necessarily shared by the Cyprus Property News.

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