Cement sales in Cyprus rose to 145,837 tonnes in September 2004, compared to 125,583t for the same month a year ago.
Cement sales in August 2004 stood at 67,146t. The island’s January to September 2004 sales rose by 19.1 per cent YoY.
Land plot prices in Limassol rose between 7.5 pct and 12.5 pct year-on-year for the first half of 2004, according to the Cypriot Real Estate Business Association. Real estate prices in Cyprus are expected to increase by up to 15 pct over the next 10 months as a result of the increase in the prices of building materials.
The increase will follow the deregulation of cement prices, which will grow by up to 10 pct. Cement prices together with the rise in fuel prices are expected to have a serious impact on Cypriot real estate industry. The value added tax imposed on real estates, the increase in interest rates and the 40 pct growth in iron prices will bring an inevitable rise in production costs, sector representatives said.