Strong growth in the Cyprus construction sector continued inNovember with permits for the construction of 909 new homes, according toofficial statistics from the Cyprus Statistical Service.
The construction industry in Cyprus maintained strong growthin November 2019, issuing 707 permits compared to 597 in November 2018; anincrease of 18.4% according to official data published by the StatisticalService of Cyprus.
The total cost of these permits increased by 29.6% to 332.4million Euros, and their total area increased by 46.6% to 222.4 thousand squaremeters compared to November 2018.
These permits allowed the construction of 909 new homes, anincrease of 56.7% compared with 580 in November 2018.
During November 2019, building permits were issued for:
residential buildings - 492 permits
Public Residences - 1 Permission
Non-residential buildings - 122
Civil Engineering Projects - 36 Permits
Section of land - 42 permits
Road construction - 14 permits
492 permits for the construction of residential buildingsapproved in November 2019 stipulate the construction of 909 new houses: 359individual houses, which is 17.3% more than 306 approved in November 2018, and133 multi-apartment buildings, including apartments, , townhouses, etc; anincrease of 35.7% compared with 98 approved in November 2018.
Of these 909 new homes, 351 are for Limassol, 314 forNicosia, 90 for Larnaca, 116 for Paphos and 38 for Famagusta.
In the period from January to November 2019, a total of 5571construction permits were issued, compared to 5929 for the same period in 2018.Their total value increased by 73.8%, and the total area - by 44.6%. The numberof permits for the construction of new houses increased by 49.6%.
2,234 residential building permits issued from January toNovember 2019 included the construction of 3,463 new homes in Limassol, 2,674in Nicosia, 1,054 in Larnaca, 1,004 in Paphos and 325 in Famagusta.
According to the Cyprus Statistical Service, buildingpermits are a key indicator of future activities in the construction sector.