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Cyprus Property News & Articles
Cost of construction up 15% in
2004
According to CYSTAT data
the cost of construction in 2004 showed an
increase of 15% against 10.3% in 2003 and 6.2% in 2002.
This increase was mostly attributable to the variation of the producer
price index in constructions to 141.8 points against 123 points in
2003. The index for buildings recorded an increase of 15% to 138.1
points against 120.1 points in 2003, while the civil engineer projects
index increased 14.7% to 151.8 against 132.3 points.
In the fourth quarter of 2004, the buildings and civil engineer
projects showed an increase of 16.3% and 13.1% respectively.
By Mary Antonescu -
mary@cyprus4properties.com
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