20.01.2023
According to a report published this week by the Statistical Office of Cyprus ( Cystat ), building material prices in Cyprus have reached historically high levels in 2022, surpassing the previous record set in 2021. In addition, in December alone, prices for building materials increased by more than 11 percent compared to last year.
Construction steel prices rose 22.92% year on year in 2022, while PVC doors and windows prices rose a whopping 45.41% year on year, according to the report.
In addition, the data showed that the building materials price index for December 2022 was 133.62 units, with its base year being 2015, which means a decrease of 0.24 percent from the previous month and an increase of 11.67 percent compared to the corresponding month. 2021.
As for the main category of products, in December 2022, growth was recorded only in minerals with an increase of 13.43%, mineral products with an increase of 12.18%, and wood, insulation, chemical and plastic products with an increase of 11. 57%. In addition, metal products rose by 11.21%, while the prices of electromechanical products rose by 10.25%.
Moreover, between January and December 2022, the index recorded a 17.21% increase compared to the corresponding period in 2021.
The statistical service explained that the increase in the indicator in 2022 compared to the previous year can be explained, first of all, by the increase in prices for a number of different materials.
These included PVC doors and windows, up 45.41% year on year, bricks, up 30.08%, and asphalt pavement, up 29.24%.
Growth in prices for other materials was observed in relation to plastic pipes, which rose in price by 28.51%, structural mesh, which rose in price by 28.12%, building iron, which rose in price by 27.74%, and iron railings, which rose in price by 26.40%. cent.
Finally, aluminum doors and windows were up 25.25%, roofing, carports and metal fasteners for drywall and cement boards were up 23.55%, and structural steel was up 22.92%.
