Cyprus construction costs rise nearly 5% in 2006

According to the Statistical Service CYSTAT, the price index of construction materials in December 2006 reached 133.72 (base year 2000=100.00), recording a marginal increase of 0.03% over the previous month.

For the period January-December 2006, the index rose by 4.98% over the corresponding period of the previous year.

The price of construction materials has an influence on the cost, and therefore on the price, of new housing.

CYSTAT report that the rise of the index over the last year is mainly the result of the price increase of the following materials:

* Copper pipes: 41.1%

* Electric wire: 39.8%

* Bituminous mixtures (Bitumen Asphalt): 19.9%

* Premix: 13.4%

·*Round bars of iron of EU origin: 9.0%

* Aluminium metallurgy products: 7.5%

* Iron metallurgy products: 7.0%

* Bricks: 6.4%

* Crushed sand: 5.5%

 

A decrease in the price index has been recorded in a number of materials such as plastic tubes (down 4.3%) and cement products (down 1.1%).