Although there was a small increase in the number of building permits authorised for the construction of new homes in Cyprus during January 2021, the total number of permits authorised fell in terms of their number, value and area compared to January 2020.
The total number of permits fell to 494 (-8.2%), their total value fell to €160.1 million (-10.3%) and their total area fell to 143,6 thousand square meters (-14.4%.)
The 494 permits were authorised for the following:
- Residential buildings – 374
- Non-residential buildings – 65
- Civil engineering projects – 23
- Division of plots of land – 29
- Road construction – 3
Building permits for new homes
The 374 residential permits provided for the construction of 702 new homes (dwellings). These comprised 206 single houses, a fall of 4.6% compared to the 216 authorised in January 2020, and 496 multiple housing units including apartments, semis, townhouses and other residential complexes; an increase of 3.3% compared to the 480 authorised in January 2020.
Building Permits Issued for the Construction of New Homes
(Number of Dwellings)
| Month | 2020 (Dwellings) | 2021 (Dwellings) | Increase/Decrease | %age Change |
|---|---|---|---|---|
| January | 696 | 702 | 6 | 0.9% |
| Totals | 696 | 702 | 6 | 0.9% |
Of those 702 new homes, 324 are destined for Limassol, 167 for Nicosia, 99 for Paphos, 94 for Larnaca and 18 for Famagusta.
According to the Cyprus Statistical Service “Building permits constitute a leading indicator of future activity in the construction sector.”
Further reading
Press release – Building Permits: January 2021
