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29th March 2024
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HomeNewsNovember building permits up by a third

November building permits up by a third

Cyprus building permitsTHE NUMBER of building permits authorised in November 2016 stood at 550 compared with the 421 authorised in November 2015; a rise of 30.6 per cent according to official figures released by the Cyprus Statistical Service.

Compared with November 2015, the total value of these permits rose 63.5% to €113.5 million, while their total area rose 56.1% to 100.3 thousand square metres.

During November 2016, building permits were issued for:

  • Residential buildings – 402 permits
  • Non-residential buildings – 102 permits
  • Civil engineering projects – 15 permits
  • Division of plots of land – 24 permits
  • Road construction – 7 permits

Building permits for new homes

The 402 residential building permits approved in November provided for the construction of 341 new homes comprising 258 single houses and 83 multiple housing units (such as apartments, semis, townhouses and other residential complexes); an increase of 33.7% compared with November 2015 when building permits were issued for the construction of 290 new homes.

Building Permits Issued for the Construction of
New Homes (Number of Dwellings)

Month 2015
(Dwellings)
2016
(Dwellings)
Increase/
Decrease
%age
Change
January 204 243 39 19.1%
February 384 312 -72 3.0%
March 297 306 9 3.0%
April 147 201 54 36.7%
May 276 278 2 0.7%
June 239 287 48 20.1%
July 337 382 45 13.4%
August 199 229 30 15.1%
September 314 289 -25 -8.0%
October 290 384 94 32.4%
November 255 341 86 33.7%
Totals 2,942 3,252 310 10.5%

Year to date

During the first eleven months of 2016 the number of building permits authorised for both residential and non-residential projects increased by 7.0% to 4,900 compared with the 4,581 authorised during the same period of the previous year.

The total area of these permits rose by 16.8% to 933.8 thousand square metres and their total value rose by 12.3% to €1,027.8 million. The number of housing units increased by 10.5%.

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

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