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Building permits up 11% in June

The number of building permits issued in in June increased 11 per cent compared with the corresponding month of last year, but their numbers have fallen 5 per cent during the first half of 2014.

THE NUMBER of building permits authorised in June 2014 stood at 463 compared with the 416 authorised in June last year; an increase of 11%, according to figures released by the Cyprus Statistical Service.

Compared to June 2013, the total area of these permits increased by 4% to 66,307 thousand square metres from 63,687, while their value increased 10% to €70.7 million from €64.6 million.

During June, building permits were issued for:

  • Residential buildings – 303 permits
  • Non-residential buildings – 108 permits
  • Civil engineering projects – 12 permits
  • Division of plots of land – 35 permits
  • Road construction – 5 permits

Building permits for new home construction

The 303 residential building permits authorised in June provided for the construction of 277 dwelling units comprising 131 single houses and 146 multiple housing units (such as apartments, semis, townhouses and other residential complexes).

This is an increase of 41% compared with June 2013 when building permits were issued for the construction of 197 new homes.

Cyprus building permits June 2014Year to date

During the first half of 2014, a total of 2,560 building permits were authorised; a fall of 5% compared to the 2,701 permits authorised during the same period last year. The total value of these permits has fallen by 33%, while their total area has also fallen by 33%.

Building permits by district

Nicosia – the number of authorised building permits fell to 967 from 977 in the first half of 2013; their total value fell to €135.62 million from €196.07 million, while the construction of new residential units fell to 395 from 676.

Limassol – the number of authorised building permits fell to 642 from 714 in the first half of 2013; their total value fell to €107.68 million from €152.03 million, while the construction of new residential units fell to 321 from 475.

Larnaca – the number of authorised building permits fell to 366 from 395 in the first half of 2013; their total value fell to €89.09 million from €165.05 million, while the construction of new residential units fell to 193 from 310.

Famagusta – the number of authorised building permits fell to 120 from 177 in the first half of 2013; their total value fell to €19.18 million from €54.53 million, while the construction of new residential units fell to 57 from 361.

Paphos – in contrast to the other districts, the number of authorised building permits rose from 438 in the first half of 2013 to 465. However, their total value fell to €80.87 million from €81.41 million, while the construction of new residential units fell to 385 from 471.

According to the Statistical Service, building permits constitute a leading indicator of future activity in the island’s construction sector.

Readers' comments

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  • demetri says:

    NOT good news, there are so many empty unsold properties out there, but I guess this 11% could be the ‘locals’ who inherited some land and thought now is the time to build (even though I have been assured that neither material costs or labour costs have fallen)

  • Mike says:

    As good as news of this is I imagine many of the readers have a passing interest in the ‘residential’ side of things and again permits issued for residential properties are dwindling rapidly in spite of the multi million Euro residences being built for oligarchs in and around Lemessos. I confess to noting a monstrosity built in Pissouri bay, totally out of character and kilter with the environment which, at least for me, has killed the place off and removed it from my list of places to stay.

    The planners for the locality must have either not been working that day or came into a wonderful bonus for that hideous construction to have been given permission to despoil a beautiful area of Cyprus. Which begs the question “why do we need planners other than to place obstacles in the way of genuine environmentally sensitive applications whose sole aim appears to let anyone know that they have the power to make your application almost impossible so they must be big boys”. Is it any wonder that many local built houses are constructed without permission. Megalomania rules!

    It appears the demise of the residential sector is still gathering pace but I guess that is good news for those looking to buy in future, not so good for any of us who may choose to sell.

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