12° Nicosia,
27 March, 2023

Building permits up 17.3% in the first ten months of 2021

Biggest increases recorded in Larnaca and Paphos

Source: CNA

Building permits issued in the first ten months of 2021 increased 17.3%, in relation to the same period of 2020, according to data released Thursday by the Statistical Service of Cyprus. The total area increased by 3.1% but the total value dropped by 8.2%.

From January to October 2021, a total of 6,671 permits were issued, in comparison to 5,689 during the same period of 2020, increasing by 17.3%. Housing units showed a 10.9% increase, for the same period. However, the total value for the new permits decreased by 8.2%, to €2.05 bn, in comparison to €2.24 bn for the period of January-October 2020.

According to the data, the permits increased in all districts, with the biggest increases recorded in Larnaca (38.8%) and Paphos (29.4%). New building permits increased by 12.3% in Limassol, by 10.7% in Nicosia and by 5.6% in Famagusta year-over-year.

Moreover, 663 new permits were issued during October 2021 by the municipal authorities and district administration offices. The total value of these permits reached €186 million and the total area 173.7 thousand square meters. These building permits allow for the construction of 801 housing units.

Cyprus  |  construction  |  finance  |  housing

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