Building permits top 20,000

Earlier today, the Cyprus Statistical Service (CySTAT) announced that during 2007, the number of dwelling units for which building permits had been authorised topped 20,000 for the first time ever, reaching a staggering 20,486.

Although the numbers were slightly down for Nicosia and Paphos, they were up for Limassol, Larnaca – and most notably Famagusta, where they jumped from 1,693 in 2006 to 2,473 in 2007.

During the past five years, building permits have been issued for the construction of nearly 86,000 dwellings.

I’ve produced the five-year chart below, from the figures provided by CySTAT.

Permits issued for the construction of property in Cyprus