CONSTRUCTION PERMITS

The construction sector in Cyprus continued to grow in February 2020: 591 building permits were issued compared to 525 in February 2019; an increase of 12.6% according to official data published by the Statistical Service of Cyprus.

Although the number of permits increased, their total area decreased by 15.9%, and their total cost decreased by 0.5%, reaching 149.7 thousand square meters and 167.5 million euros, respectively. They provided for the construction of 680 new houses, which is 18.1% more compared to 576 in February 2019.

In February 2020, 591 permits were issued:

residential buildings - 417

non-residential buildings - 77

civil engineering projects - 31

land division - 43

road construction - 20 permits for the construction of new houses; 417 housing permits were granted for the construction of 680 new houses (dwellings).

 Of these 680 new homes, 262 are for Limassol, 255 for Nicosia, 109 for Larnaca, 44 for Paphos and 10 for Famagusta.

In January and February 2020, a total of 1,129 building permits were issued, compared with 1,069 for the same period last year. Their total value increased by 20.9%, and their total area - by 10.7%. The number of permits for the construction of new houses increased by 4.2%. Permits for the construction of 815 residential buildings, issued in January and February, allowed the construction of 1,376 new homes; 527 in Limassol, 440 in Nicosia, 187 in Larnaca, 118 in Paphos and 104 in Famagusta.

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