Construction cost in Cyprus

What this figure is — and what it is not

• It is derived, not published. CYSTAT does not publish a cost per m². The figure is computed here: declared permit value ÷ permitted floor area.
• It is a declaration. It reflects the value the applicant stated when applying for the permit — not a contractor's tender, not a contract sum, not a final account, and not necessarily what was eventually built.
• It is an average of a mix. Each annual figure blends every permit in the category: a year holding a few large or high-specification schemes rises without a single material price moving.
• It is not a budget for your project. A cost per m² for a specific building comes from a quantity surveyor pricing that building's drawings and specification.

Drivers of variation

What a valuer must adjust for

• Specification and build quality: the average blends basic and high-end construction.
• Location: the figures are Cyprus-wide. This series carries no district or locality split.
• Date: from permit year to the valuation date — permits run ahead of construction.
• Size and economies of scale: a one-off house does not price like a sixty-unit development.
• What is inside the figure: land, professional fees, VAT, contractor's margin, external works and infrastructure are not demonstrably treated consistently across declarations — confirm them against real cost evidence.
• Use: the series works best as a trend and indexation signal over time, rather than as a unit rate to apply. A unit rate needs recent contracts, tenders or a quantity surveyor.

Methodology and source

• Calculation: value (€000s) × 1,000 ÷ area (m²), per year and per type of building, from the same building-permits table.
• A cell is published only where at least 1,000 m² of permitted area sits behind it; smaller areas produce absurd per-m² figures.
• Gaps in the chart and dashes in the table are years with no computable figure. The line breaks rather than bridging data that does not exist.
• Civil engineering works (roads, networks, dams) are excluded from the visuals: they have no meaningful floor area, so value ÷ area does not yield a cost per m² — CYSTAT's own figures for that line run from €1,600 to €53,000 per “m²”.
• The most recent year can be revised as late permits are recorded.
• The data is pulled programmatically from the CYSTAT PxWeb API and committed to the repository; the page does no processing beyond the above.