Building Permits in November

According to official figures released by the Statistical Service of Cyprus, the total number of building permits issued in Cyprus in November 2018 was 597, compared with 474 issued in November 2017. Growth of 25.9% and provides for the construction of 580 new homes. Compared to November 2017, the total value of all building permits fell by 49.3% to 156.6 million Euros, and their total area - by 32.9% to 151.5 thousand square meters.

During November 2018, building permits were issued:

Residential buildings - 404 permits;

Non-residential buildings - 131 permits;

Civil engineering projects - 15 permits;

On the division of land - 39 permits;

Road construction - 6 permits.

The 404 residential construction permits approved in November included the construction of 580 new houses, including 235 individual houses and 345 apartment buildings, such as apartments, townhouses, etc.

Of these 580 new homes, 210 are for Limassol, 200 for Nicosia, 114 for Larnaca, 52 for Paphos and 4 for Famagusta.

Between January and November 2018, 5,929 building permits were issued, compared to 5,291 in the corresponding period in 2017; an increase of 12.1%, while their total cost and area increased by 20.9% and 17.1%, respectively.

According to the statistical service of Cyprus, building permits are a major indicator of future activities in the construction sector.