Hello!
What are the current costs per m2 for building these days? Without plot and VAT general construction, no specific developer
I am wondering, if someone could give us a ballpark figure,
I am counting 1700 - 2000€ too much or not enough?
Thank you!
Building costs /m2 in Cyprus/Peyia
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Re: Building costs /m2 in Cyprus/Peyia
Hello Vendela and welcome to the forum.
The latest figures I have are for 2020, when the average cost for building a house was €1,059 per square metre. Since then the output price in construction index has risen by around 23% at the end of the second quarter of this year. (The index measures the changes in unit prices charged to clients of construction work. Consequently, it shows the change in the overall cost of construction work incurred to the client, including costs coming from the materials used, from labour, energy, transport, etc, as well as the profit made by the contractors.)
But there are many variables that will affect the price including ground conditions, quality of fixtures and fittings.
Our house was built in 2003/4 and the build cost was CYP 105,000. We spent a further CYP 50,000 on good quality fixtures and finishes, underfloor central heating, etc.
Together with our architect we designed our house and had a quantity surveyor prepare a bill of quantities that we sent to seven building contractors who we invited to tender for work.
Regards,
The latest figures I have are for 2020, when the average cost for building a house was €1,059 per square metre. Since then the output price in construction index has risen by around 23% at the end of the second quarter of this year. (The index measures the changes in unit prices charged to clients of construction work. Consequently, it shows the change in the overall cost of construction work incurred to the client, including costs coming from the materials used, from labour, energy, transport, etc, as well as the profit made by the contractors.)
But there are many variables that will affect the price including ground conditions, quality of fixtures and fittings.
Our house was built in 2003/4 and the build cost was CYP 105,000. We spent a further CYP 50,000 on good quality fixtures and finishes, underfloor central heating, etc.
Together with our architect we designed our house and had a quantity surveyor prepare a bill of quantities that we sent to seven building contractors who we invited to tender for work.
Regards,
Nigel Howarth
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news
Re: Building costs /m2 in Cyprus/Peyia
Thank you for your answer. So we might be safe to think about 2000€/m2 in the worst case.
May I ask, if you can point out a good architect or construction company please? Thank you!
May I ask, if you can point out a good architect or construction company please? Thank you!
Re: Building costs /m2 in Cyprus/Peyia
Maybe a list of recommendation somewhere in the forum could be help for others. If there was one, sorry for not finding it.
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Re: Building costs /m2 in Cyprus/Peyia
There's architect in Paphos - Yiannis Koutsolambros. I met him many years ago at a seminar in Paphos and he helped some of my friends who were trying to get their Title Deeds.
Regards,
Nigel Howarth
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news
Re: Building costs /m2 in Cyprus/Peyia
So we asked today a rather large developer, who built this new modern houses in Tombs of the Kings what they charge by m2 - 2500€ at least. To be honest, in Austria, which is known to be an expensive country, this would be considered luxury class. Given the rather questionable quality we saw today we rather not build with them.
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Re: Building costs /m2 in Cyprus/Peyia
If you get an architect to design your home, you'll not have to deal with property developers. If you did what we did and issue an invitation to tender to a number of building contractors, you can choose who you want to build your home.
Regards,
Nigel Howarth
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news
Re: Building costs /m2 in Cyprus/Peyia
This is what we will do. In the rough I know, how I want the house, I have built one already in our old country. To be honest it is really astonished, with how little quality people here are happy. Our neighbors have lived in their house with really bad windows 20 years. They are happy. My only guess is, they know it not better and Cypriot developers take advantage of this. Coming from DACH area I would never accept this and be happy.