Cyprus Property News magazine for overseas buyers & real estate investors

Saturday 4th July 2020
Home Property Statistics More new homes in December

More new homes in December

More new homes in CyprusTHE NUMBER of building permits authorised in December 2016 stood at 454 compared with the 433 authorised during the same period in the previous year; a rise of 4.8 per cent according to official figures released by the Cyprus Statistical Service.

Although the total value of these permits fell by 16.8% to €129.7 million compared to December 2015, their total area rose by 38.9% to 113.3 thousand square metres.

During December 2016, building permits were issued for:

  • Residential buildings – 325 permits
  • Non-residential buildings – 84 permits
  • Civil engineering projects – 17 permits
  • Division of plots of land – 20 permits
  • Road construction – 8 permits

Building permits for new homes

The 325 residential building permits approved in December provided for the construction of 397 new homes comprising 213 single houses and 184 multiple housing units (such as apartments, semis, townhouses and other residential complexes); an increase of 55.7% compared with December 2015 when building permits were issued for the construction of 255 new homes.

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

Month2015
(Dwellings)
2016
(Dwellings)
Increase/
Decrease
%age
Change
January2042433919.1%
February384312-723.0%
March29730693.0%
April1472015436.7%
May27627820.7%
June2392874820.1%
July3373824513.4%
August1992293015.1%
September314289-25-8.0%
October2903849432.4%
November2553418633.7%
December25539714255.7%
Totals3,1973,64945214.1%

Annual statistics

During 2016 the number of building permits authorised for both residential and non-residential projects increased by 6.8% to 5,354 compared with the 5,014 authorised during the previous year.

The total area of these permits rose by 18.8% to 1,047.1 thousand square metres and their total value rose by 8.0% to €1,157.6 million. The number of housing units increased by 14.1%.

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

3 COMMENTS

  1. Housing developments in Cyprus should be properly regulated by independent organisations who would be given a free hand to achieve full completion meeting the satisfaction of the planning department and buyers.

    This is wish thinking and will again go via a cycle of corrupt deception by previous crooks. We know who you are?

  2. Make the developers adhere to building regulations and codes of practice. Make them put the infrastructure in place before they start to build any properties. This must include roads, footpaths, retaining walls, drainage which should be connected to the main sewer, street lighting and all the communication and electricity cables to each property boundary.

    If it is a multi property site then they should abolish the regulation about all the site must be finished before the plots can be separated. If the developer goes bankrupt mid way through the build then it would give the purchaser a chance to finish their own property to current regulations. There is so much wrong with the current laws which is giving the building industry a bad name.

Comments are closed.

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