Construction activity has made a strong recovery from the impact of the COVID-19 containment measures in 2020, with the number of building permits authorised during the first half of 2020 exceeding those issued in the same period in pre-COVID 2019 according to the Cyprus Statistical Service.
During the first half of 2021, 3,990 building permits were authorised compared with 3,153 in the first half of 2020; an increase of 26.5%. The value of these permits rose by 20.5% to reach €1.34 billion, while their total area rose by 31.0% to reach 1.23 million square metres and provided for the construction of 5,412 new homes.
The figures published for June 2021 show that a total of 833 building permits were authorised during the month; an increase of 15.1% from the number authorised in June 2020. Their value rose to €270.4 million and their area rose to 263.7 thousand square metres and provided for the construction of 998 new homes (dwelling units).
The 833 building permits were authorised for the following:
- Residential buildings – 594
- Non-residential buildings – 134
- Civil engineering projects – 32
- Division of plots of land – 55
- Road construction – 18
New home construction
The 594 residential building permits provided for the construction of 998 new homes, comprising:
- Single houses – 381
- Buildings comprising 2 units – 120
- Residential apartment blocks – 486
- Residential/commercial apartment blocks – 11
Of those 998 new homes, 267 are destined for Nicosia, 239 for Limassol, 226 for Larnaca, 184 for Paphos and 82 for Famagusta.
Building Permits Issued for the Construction of New Homes
(Number of Dwellings)
|Month||2020 (Dwellings)||2021 (Dwellings)||Increase/Decrease||%age Change|