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Building Permits for new homes

06.09.2019

According to official data published by the Statistical Service of Cyprus, the total number of building permits issued in Cyprus in May 2019 was 709, compared to 612 issued in May 2018; an increase of 15.8%. The total cost of these permits more than doubled, reaching 287.9 ​​million Euros, and the total area increased by 82% and reached 258.5 thousand square meters compared to May 2018.

These permits provided for the construction of 907 new homes, a 67.7% increase compared with 541 new homes in May 2018.

During May 2019, building permits were issued for:

Residential buildings - 445;

Non-residential buildings - 99;

Civil Engineering Projects - 27;

Section of land plots - 24;

Road construction – 17

Building Permits for new homes include 310 separate houses (compared to 305 in May 2018) and 597 apartment buildings, including apartments, penthouses, townhouses, etc. (compared to 236 in May 2018).

Of these 907 permits, 307 are for Nicosia, 260 for Limassol, 157 for Larnaca, 137 for Paphos and 46 for Famagusta.

Annual construction indicators

Between January and May 2019, 2,820 construction permits were issued, compared with 2,596 for the same period last year. Their total value increased by 128.2%, and the total area - by 53.8%. The number of permitted new homes increased by 45.2%. During the period, 2820 permits were issued for the construction of 1263 new houses in Limassol, 1045 in Nicosia, 457 in Larnaca, 424 in Paphos and 109 in Famagusta.

According to the Cyprus Statistical Service, building permits are a key indicator of future activities in the construction sector.

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