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6th July 2022
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HomeProperty StatisticsReduction in building permits authorised in March

Reduction in building permits authorised in March

The number of building permits authorized in Cyprus during March 2022 stood at 642. The total value of these permits reached €209.7 million and the total area 176.7 thousand square meters. These building permits provide for the construction of 962 dwelling units.

Compared to March 2021, the number of permits issued fell by 14.1%, their total value fell by 14.2%, while their total value rose by 5%.

The number of permits issued for new homes (dwellings) fell by 16.9%.

The 642 permits were authorised for the following:

  • Residential buildings – 444 (a fall of 16.9% from 534 in March 2021)
  • Non-residential buildings – 97 (a fall of 7.6% from 7.6 in March 2021)
  • Civil engineering projects – 39 (an increase of 5.4% from 37 in March 2021)
  • Division of plots of land – 40 (a fall 18.4% from 49 in March 2021)
  • Road construction – 22 (unchanged from the number issued in March 2021)

Building permits for new homes

The 444 residential permits provided for the construction of 692 new homes (dwellings). These comprised:

  • Single houses – 282 (a fall of 23.6% from 369 in March 2021)
  • Two or more housing units – 92 (a fall of 4.2% from 96 in March 2021)
  • Residential apartment blocks – 533 (a fall of 2.7% from 548 in March 2021)
  • Residential/commercial apartment blocks – 55 (an increase of 175.0% from 20 in March 2021)

Of those 696 new homes, 405 are destined for Nicosia, 250 for Limassol, 167 for Larnaca, 112 for Paphos and 115 for Famagusta

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

Month 2021 (Dwellings) 2022 (Dwellings) Increase/Decrease %age Change
January 702 640 -62 -8.8%
February 663 901 238 35.9%
March 1033 962 -71 -6.9%
Totals 2398 2503 105 4.4%

Building permits year to date

During the first quarter of 2022, 1,951 permits were issued compared to 1,897 in the first quarter of 2021; an increase of 2.8%. The total value of these permits rose by 13.8%, their total area rose by 3.7% and the number of dwelling units rose by 4.4%.

Cyprus building permits - March 2021/2022 comparison

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

Further reading

Building Permits – March 2022

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