Cost of building materials sees marginal drop

The benchmark index for the cost of construction materials in Cyprus, that in addition to market demand also determines the value of newly built residential and commercial properties, saw a minor drop in September.

The Price Index of Construction Materials for September, as calculated by the statistical service Cystat, dropped to 117.27 units, a decrease of 0.35% compared to the previous month, as well as a marginal drop of 0.02% year on year, and -1.14% year-to-date.

The Cystat report said that by main commodity category, year-on-year decreases were recorded in iron and steel products (-4.24%), metallic products (-2.85%) and cement (-0.67%).

Annual increases were seen in electrical fixtures (+6.28%), electromechanical products (+3.62%), heating and cooling equipment (+3.24%), products of wood, insulation materials, chemicals and plastics (+1.06%), ceramics (+0.93%), mineral products (+0.59%), cement products (+0.49%), insulation materials (+0.36%) and minerals (+0.33%).