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30th November 2021
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HomeProperty StatisticsBuilding permits remained steady in August

Building permits remained steady in August

The number of building permits authorised in Cyprus by the municipal authorities and the district administration offices during August of this year remained steady.

The August 2021 figures show that a total of 523 building permits were authorised during the month; the same number as authorised in August 2020. Their value fell 25.3% to €143.4 million and their area fell 15.3% to 124.9 thousand square metres.

The August permits provided for the construction of 554 new homes (dwelling units), a fall of 29.9% from the 790 new homes authorised in the same month last year.

The 523 building permits were authorised for the following:

  • Residential buildings – 350
  • Non-residential buildings – 85
  • Civil engineering projects – 28
  • Division of plots of land – 46
  • Road construction – 14

New home construction

The 350 permits for residential buildings provided for the construction of 554 new homes, comprising:

  • Single houses – 250
  • Buildings comprising 2 units – 42
  • Residential apartment blocks – 260
  • Residential/commercial apartment blocks – 2

Of those 554 new homes, 225 are destined for Nicosia, 171 for Limassol, 86 for Paphos, 56 for Larnaca and 16 for Famagusta.

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%
February 680 663 -17 -2.5%
March 524 1,033 509 97.1%
April 339 955 616 181.7%
May 956 1,061 105 11.0%
June 976 998 22 2.3%
July 1,141 874 -267 -23.4%
August
790 554 -236 -29.9%
Totals 6,102 6,840 738 12.1%

Building permits: year to date

During the first eight months of 2021, 5,240 permits were authorised compared with 4,416 in the same period last year; an increase of 18.7%. The value of these permits fell 4.5% to €143.4 million, but their total area rose by 8.1% to reach 124.9 thousand square metres.

These permits provided for the construction of 6,840 new homes, an increase of 12.1% compared to the 6,102 new homes authorised in the same period last year.

According to the Cyprus Statistical Service “Building permits constitute a leading indicator of future activity in the construction sector.”

Further reading

Building Permits: August 2021

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