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Saturday, June 6, 2020
Home Property Statistics Rise in new homes building permits

Rise in new homes building permits

Rise in Cyprus new homes building permitsTHE TOTAL number of building permits authorised in Cyprus during June 2019 stood at 573 compared with the 514 authorised during June 2018; an increase of 11.5% according to official figures published by the Cyprus Statistical Service.

The total value of these permits more than doubled to reach €208.7 million and their total area rose 44.1% to reach 189.1 thousand square metres compared to June 2018.

These permits provided for the construction of 812 new homes, an increase of 11.5% compared to the 541 new homes in June 2018.

During June 2019, building permits were authorised for:

  • Residential buildings – 409 permits
  • Non-residential buildings – 86 permits
  • Community residences – 1 permit
  • Civil engineering projects – 15 permits
  • Division of plots of land – 40 permits
  • Road construction – 22 permits

Building permits for new homes

The 409 residential building permits authorised in June 2019 provided for the construction of 812 new homes (dwellings). These comprised 333 single houses (compared with 193 in June 2018) and 479 multiple housing units including apartments, semis, townhouses and other residential complexes (compared with 313 in June 2018).

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

Month2018 (Dwellings)2019 (Dwellings)Increase/Decrease%age Change
January4765487215.1%
February
431
57614533.6%
March
467
61514831.7%
April
418
742
324
77.5%
May
541
907
366
67.7%
June
506
812
306
60.5%
Totals2,8394,2001,36147.9%

Of those 812 new homes, 316 are destined for Nicosia, 216 for Limassol, 125 for Paphos, 105 for Larnaca and 50 for Famagusta.

Annual construction figures

During the period January – June 2019, 2,820 building permits were authorised compared to 2,596 in the same period last year.  Their total value increased by 128.2% and their total area by 53.8%. The number of new homes authorised rose by 45.2%.

The 3,393 permits issued this year provided for the construction of 1,479 new homes in Limassol, 1,361 in Nicosia, 652 in Larnaca, 549 in Paphos and 159 in Famagusta.

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

1 COMMENT

  1. Seems to be common place now many people are adding extra floors/rooms to properties in no time using steel girders/beams instead of the concrete and steel rods used in the past…..

Comments are closed.

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