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Smaller rise in new home building permits

Building permits authorised in Cyprus during August 2019 provided for the construction of 525 new homes, compared with 453 in August 2018 according to official figures published by the Cyprus Statistical Service.

Smaller rise in new home building permits THE TOTAL number of building permits authorised in Cyprus during August 2019 stood at 443 compared with the 415 authorised during August 2018; an increase of 6.7% according to official figures published by the Cyprus Statistical Service.

The total value of these permits fell by 55.0% to €157.3 million, while their total area rose by 5.0% to reach 155.5 thousand square metres compared to August 2018.

These permits provided for the construction of 525 new homes, an increase of just 15.9% compared to the 453 new homes in August 2018.

During August 2019, building permits were authorised for:

  • Residential buildings – 319 permits
  • Community residences – 1 permit
  • Non-residential buildings – 68 permits
  • Civil engineering projects – 24 permits
  • Division of plots of land – 16 permits
  • Road construction – 15 permits

Building permits for new homes

The 319 residential building permits authorised in August 2019 provided for the construction of 525 new homes (dwellings). These comprised 246 single houses (compared with 226 in August 2018) and 73 multiple housing units including apartments, semis, townhouses and other residential complexes (compared with 59 in August 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%
July
632
1,028
306
62.7%
August
453
525
72
15.9%
Totals3,9245,7531,73946.6%

Of those 525 new homes, 183 are destined for Limassol, 165 for Nicosia, 110 for Paphos, 64 for Larnaca and just 3 for Famagusta.

Annual construction figures

During the period January – August 2019, a total of 5,579 building permits were authorised compared to 4,114 in the same period last year.  Their total value increased by 54.9% and their total area by 37.5%. The number of new homes authorised rose by 46.6%.

The 3,316 residential permits issued this year provided for the construction of 2,116 new homes in Limassol, 1,800 in Nicosia, 828 in Larnaca, 767 in Paphos and 242 in Famagusta.

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

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