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Building permits continue fall in August

Figures released in the week by the Statistical Service show that the number of building permits issued for the construction of residential properties in Cyprus continued to fall in August.

THE Cyprus Statistical Service (CYSTAT) has announced that the number of building permits authorized by the Municipal Authorities and the District Administration Offices during August 2010 was 536, comprising:

  • Residential buildings – 397 permits
  • Non-residential buildings – 69 permits
  • Civil engineering projects – 19 permits
  • Road construction – 9 permits
  • Division of plots of land – 42 permits

Focusing on the 397 permits issued for the construction of residential buildings, these were approved for 797 dwelling units – 351 single houses and 446 multiple housing units such as apartments and other residential complexes.

Compared to the August 2009 total of 900 dwelling units, this represents a fall of 11.4%.

Cyprus building permit numbers August 2010

Source: Cyprus Statistical Service

Between January and August 2010 building permits were issued for the construction of 7,289 residential properties. Compared to the same period last year, when permits were issued for the construction of 8,010 residential units; a fall of 9.0%.

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

Readers' comments

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  • Peter says:

    So Nigel,

    ten would be about right then? Good guess on my part.

  • @Peter – the number of transfers that took place in Paphos during August were:

    Total number of transfers – 137
    Total number of properties transferred – 144
    Total sum declared – €19,502,739.90
    Total sum accepted – €21,558,786.81

    The figures are produced monthly by the Department of Lands and Surveys and are published on their website.

    (Bear in mind that ‘properties’ include land and commercial premises as well as dwellings).

  • Peter says:

    Residential buildings – 397 permits
    Non-residential buildings – 69 permits
    Civil engineering projects – 19 permits
    Road construction – 9 permits
    Division of plots of land – 42 permits

    So what was the total number of title deeds issued by Paphos Land Registry to home owners during August?

    Was it more or less than 10 for the month.

  • The views expressed in readers' comments are not necessarily shared by the Cyprus Property News.

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