According to Tranio, citing the CYSTAT construction materials price index, sand, gravel, crushed stone and similar materials in Cyprus rose by 9.5%, adding to cost pressure in construction.
According to Tranio, citing the CYSTAT construction materials price index, prices of mineral aggregates in Cyprus – sand, crushed stone, gravel, granite, marble and others – rose by 9.5% year on year. Estimates cited by Tranio put the share of aggregates in the cost structure of building materials at between 19% (sand and aggregates alone) and 36% (including cement). Tranio notes that a 10% rise in aggregate prices could increase construction costs by 1.5–2%, and that developers are likely to pass this on to buyers. In its assessment, rising property prices in Cyprus are therefore driven not only by demand and limited supply, but also by higher production costs. The key factor, according to Tranio, was a month-long strike in the ready-mix concrete sector, from 7 November to the beginning of December 2024. Workers demanded that overtime pay be restored to 2018 levels and that salaries be indexed. To cover their costs, quarries raised tariffs by EUR 1 per tonne, equivalent to a 10–15% price increase. Supply disruptions caused shortages and emergency purchases at premium rates, creating pent-up demand that surged once deliveries resumed. Labour costs in Cyprus construction also rose by 5.7% year on year as of June 2025, Tranio reports.