12.10.2023
According to a report published this week by the Cyprus Statistical Service ( Cystat ), the Cyprus construction sector experienced significant changes in the third quarter of 2023, with the construction output price index recording an increase of 4.3% in the second quarter of 2023 compared to the same period 2022.
The index reached 135.03, with the base year set to 2015 and the value of that year being 100 units. In addition, compared to the previous quarter, the index recorded an increase of 1.5%.
Broken down by project type, the index showed a 0.5% increase in construction projects and a strong 18.9% increase in construction activity in the second quarter of 2023 compared to the same period in 2022 .
In addition, the construction production index in the second quarter of 2023 reached 203.62 units, with the base year again set to 2015, reflecting a significant increase of 7.4 percent compared to the second quarter of 2022.
Moreover, compared to the previous quarter, the index increased by 10.64 percent.
A closer look at the data shows a 9 percent increase in construction projects and a 1.4 percent decrease in construction activity in the second quarter of 2023 compared to the same period in 2022.
