Cyprus Property News for home buyers & real estate investors in Cyprus

4th December 2021
Cyprus Property News logo
HomeProperty StatisticsBuilding permits authorised for 907 new homes

Building permits authorised for 907 new homes

THE CONSTRUCTION of 696 new homes was authorised in January 2020 compared to the 548 authorised in January 2019 according to official statistics from the Cyprus Statistical Service; an increase of 27.0%.

The strong growth in the island’s construction sector continued in January 2020 with 538 building permits issued compared to 548 in January 2019. Although the number issued fell by 1.1%:

  • Their total value of these permits rose by 51.6% to reach €178.5 million.
  • Their total area rose by 55.0% to reach 165.8 thousand square metres compared to January 2019.
  • They provided for the construction of 696 new homes, an increase of 27.0% compared to 548 in January 2019.

During January 2020, the 538 building permits were authorised for:

  • Residential buildings – 395
  • Non-residential buildings – 73
  • Civil engineering projects – 18
  • Division of plots of land – 36
  • Road construction – 16

Building permits for new homes

The 395 residential permits provided for the construction of 696 new homes (dwellings). These comprised 216 single houses, an increase of 2.9% compared to the 210 authorised in January 2019, and 480 multiple housing units including apartments, semis, townhouses and other residential complexes; an increase of 42.0% compared to the 388 authorised in January 2019.

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

Month 2019 (Dwellings) 2020 (Dwellings) Increase/Decrease %age Change
January 548 696 148 27.0%
Totals 548 696 148 27.0%

Of those 696 new homes, 265 are destined for Limassol, 185 for Nicosia, 94 for Famagusta 78 for Larnaca and 74 for Paphos.

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

1 COMMENT

Comments are closed.

Sign up to receive our free Cyprus property newsletter

We guarantee that we do not spam and will not divulge your email address to any third party.

Read our privacy policy for more information.

Cyprus property transfer fees

Property capital gains tax (CGT) calculator

EUR - Euro Member Countries
GBP
1.1696
RUB
0.0119
CNY
0.1386
CHF
0.9633

Top Stories