THE NUMBER of building permits authorised in Cyprus during April 2017 stood at 410 compared with the 437 authorised during the same period in the previous year; a fall of 6.2% according to official figures released by the Cyprus Statistical Service.
The total value of these permits rose by 68.0% to €89.7 million compared to April 2016, while their total area rose by 82.9% to 87.6 thousand square metres.
During April 2017, building permits were issued for:
- Residential buildings – 295 permits
- Non-residential buildings – 66 permits
- Civil engineering projects – 14 permits
- Division of plots of land – 29 permits
- Road construction – 6 permits
During the first four months of 2017, 1,861 building permits have been issued compared to 1,761 in the first four months of 2016.
The total value of these permits increased by 36.0% and the total area by 38.1%.
Building permits for new homes
The 295 residential building permits approved in April provided for the construction of 289 new homes comprising 173 single houses and 176 multiple housing units (such as apartments, semis, townhouses and other residential complexes); an increase of 43.8% compared with April 2016 when permits were issued for the construction of 201 new homes.
Building Permits Issued for the Construction of
New Homes (Number of Dwellings)
During the first four months of 2017, the number of new homes for which permits have been issued rose by 37.7%.
According to the Cyprus Statistical Service, building permits constitute a leading indicator of future activity in the construction sector.