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Sharp rise in new homes construction

The number of new homes in Cyprus for which building permits have been issued rose by 56.8 per cent in January 2017 compared to the same period in the previous year according to the Cyprus Statistical Service.

September building permits up 15 per cent

The number of building permits authorised by the municipal authorities and the district administration offices during September 2016 stood at 467 according to the Cyprus Statistical Service.

Strong growth in building permits

The number of building permits authorised by the municipal authorities and the district administration offices during August 2016 stood at 381 according to the Cyprus Statistical Service.

Marginal increase in building permits

The number of building permits authorised by the municipal authorities and the district administration offices during May 2016 stood at 440 according to the Cyprus Statistical Service.

February building permits up 9 per cent

Although the number of building permits authorised in February 2016 rose by 9 per cent compared to the number authorised in February 2015, both their total area and total value fell.

More new homes in Cyprus

The number of new homes in Cyprus for which building permits have been issued increased by 1.9 per cent in September compared with the same period last year according to the Cyprus Statistical Service.

Building permits down 10% in the first quarter

The number of building permits issued in March increased compared with the corresponding month of last year, but their numbers have declined 10.3% during the first quarter of 2014.

Construction sector investment retreats

The reduction of investment in the island’s construction sector continued in September increasing the uncertainty about its outlook as there are no prospects of a recovery in the foreseeable future.

Slump in construction activity continues

The Cyprus construction industry’s slump continued in July with building permit numbers rising slightly compared to July last year, according to the latest figures from the Cyprus Statistical Service.

Tax incentives expanded and extended

The government has expanded the 5 percent VAT payable on new homes used as primary residences to include non-EU citizens and has extended the Property Transfer Fee reduction/suspension until the end of the year.

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