12° Nicosia,
22 September, 2023

January 2023 sees significant surge in building permits

Building permits increase by 45.8% in total value and 28.5% in total area compared to January 2022

The total value of building permits in January 2023 increased by 45.8%, compared to January 2022, according to data published by the Statistical Service on Friday. At the same time, the total area increased by 28.5%

The number of building permits authorized by the municipal authorities and the district administration offices during January 2023 stood at 590, with 412 of these regarding residential buildings.

The total value of these permits reached €241.3 million and the total area was 203.1 thousand square meters. Compared to the corresponding month of the previous year, the number of building permits issued increased by 10.3%.

These building permits provide for the construction of 938 dwelling units, an increase of 46.6%, compared to January 2022.

Out of 938 dwelling units, 216 are single houses, 60 are buildings with two housing units, 620 are residential apartment blocks and 42 are residential/commercial apartment blocks.

Building permits constitute a leading indicator of future activity in the construction sector.


Business: Latest Articles