Construction material costs in Greece and Cyprus: latest official indices (August 2026)
Greek residential construction material prices rose 5.0% y/y in August 2026, up from 3.1% in March; Cypriot material prices rose 3.39%.
Key figures#
| Indicator | Latest | Period | Source |
|---|---|---|---|
| Greece: material price index, new residential buildings (y/y) | +5.0% | Aug 2026 | ELSTAT, 25 Sep 2026 (PDF, Greek) |
| Greece: same index (m/m) | +0.4% | Aug 2026 | ELSTAT |
| Greece: same index (y/y), earlier reading | +3.1% | Mar 2026 | ELSTAT, 23 Apr 2026 (PDF) |
| Cyprus: construction materials price index (y/y) | +3.39% (index 123.09) | Aug 2026 | CYSTAT |
| Cyprus: construction producer prices (y/y) | +4.9% | Q2 2026 | CYSTAT |
| Greece: building permits (y/y) | +21.5% (3,118) | Jun 2026 | ELSTAT via MacroPolis |
| Cyprus: building permits (y/y) | +18.3% (751) | Jun 2026 | CYSTAT |
Greece: what moved in August 2026#
ELSTAT's overall Material Price Index in the Construction of New Residential Buildings (base 2021 = 100) rose by 5.0% between August 2025 and August 2026. In the same comparison a year earlier (August 2025 against August 2024) it rose by 2.5%. Between July and August 2026 it rose by 0.4%. The index measures prices of building materials. It does not include labour, land, design fees or VAT.
Largest annual increases by material category in August 2026, according to ELSTAT:
- Diesel fuel: +23.2%
- Bricks: +11.1%
- Copper pipes: +10.7%
- Ready-mixed concrete: +6.5%
- Reinforcements for mortar and ready-mixed concrete: +5.2%
- Plastic, synthetic and fibre-cement pipes: +5.1%
- Aluminium door and window frames, and parquet: +4.9% each
- Cement: +4.7%
- Floor and wall tiles: +4.6%
- Steel reinforcing rods: +3.8%
Trend. In March 2026 ELSTAT reported an annual rise of 3.1%, with diesel fuel already up 21.9%. The twelve-month average to March 2026 was 2.6% above the previous twelve months. Taken together, the readings show material-cost growth picking up during 2026, with energy-linked inputs moving the most. This describes past data, not a projection.
Cyprus#
CYSTAT's Construction Materials Price Index reached 123.09 in August 2026, up 3.39% year-on-year and 0.07% on July. July's reading was 123.00 (+3.33% y/y). For Q2 2026, CYSTAT reported construction output up 1.1% and construction producer prices up 4.9% year-on-year. The producer price measure is broader than materials alone. All of these are on CYSTAT's construction statistics page.
The Central Bank of Cyprus's Q2 2026 RPPI report lists rising construction costs as one factor behind higher residential prices, alongside strong demand.
Permits: activity indicators#
- Greece. ELSTAT recorded 3,118 building permits in June 2026, compared with 2,566 in June 2025. May had shown a marginal decline of 0.8%.
- Cyprus. CYSTAT recorded 751 permits in June 2026 (+18.3%) and 735 in May 2026 (+21.1%).
Permit counts can swing a lot from month to month. They also measure intentions rather than construction starts.
How to use these indices#
- Contract escalation clauses. Many construction contracts reference official indices. Check which index and base year a contract uses before comparing.
- Development appraisals. Material indices cover only part of total project cost. Labour, land, financing and permitting costs come from other sources.
- Revisions and timing. ELSTAT has recently published the CSTM about three to four weeks after the end of the reference month. The August 2026 figure came out on 25 September 2026. Check the ELSTAT calendar.
Related: Greek residential market overview · Cyprus snapshot · Official data sources