- Cyprus Property News Magazine - https://www.news.cyprus-property-buyers.com -

September 2018 building permits

Cyprus building permits - Seeptember 2018THE TOTAL number of building permits authorised in Cyprus during September 2018 stood at 588 compared with the 509 authorised during September 2017; a rise of 15.5% and provided for the construction of 576 new homes according to official figures published by the Cyprus Statistical Service.

Compared to September 2017, the total value of all building permits rose by 37.2% to reach €160.2 million and their total area rose by 47.2% to reach 155.2 thousand square metres.

During September 2018, building permits were issued for:

The 402 residential building permits approved in September provided for the construction of 576 new homes (dwellings) comprising 241 single houses and 335 multiple housing units such as apartments, semis, townhouses and other residential complexes.

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

Month2017
(Dwellings)
2018
(Dwellings)
Increase/
Decrease
%age
Change
January3814769524.9%
February3834314812.5%
March4124675513.3%
April28941812949.6%
May
42454111726.6%
June
38150612532.8%
July
537
632
95
17.7%
August
244
453
209
85.7%
September
362
576
211
59.1%
Totals3,4134,5001,08731.8%

Of those 576 new residential homes, 191 were approved for Limassol, 183 for Nicosia, 82 for Famagusta, 76 for Paphos and 44 for Larnaca.

During the period January – September 2018, 4,702 building permits were issued compared to 4,281 in the corresponding period last year; an increase of 9.8%, while their total value and area increased by 45.8% and 32.2% respectively.

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