Cyprus construction costs down 3.5% in 2009

The costs of construction in Cyprus fell for the first time in ten years in 2009, according to the Statistical Service.
For the period January – December 2009, the index fell by 3.54% over the corresponding period of the previous year.
The Statistical Service said that the last time prices of construction materials had recorded a year on year decrease was in 1999, when they had fallen by 3.60%.
In December alone, the price index of construction materials reached 117.11 (base year 2005=100.00) recording a decrease of 0.34 % over the previous month.
That Statistical Service said that the decline was a result of significant price decreases of the following materials:

Declines
*Building iron: 40.16%
*Structural steel: 29.74%
*Bitumen asphalt: 27.22%
*Asphalt concrete (premix): 23.62%
*Wires and cables: 10.40%

It said that the extent of the drop was limited by the increase in prices of the following materials:

Increases
*Portland cements: 12.24%
*Ready mixed concrete: 7.23%
*Bricks: 4.87%
*Mineral aggregates (sand, gravel, havara): 3.33%
*Doors, windows, wardrobes, cupboards and benches of wood: 3.13%
*Aluminium doors and windows: 2.21%