Building permits authorised in April fell in number, value and area as the rocketing prices of building materials hit the construction industry.
The number of building permits authorized in Cyprus during April 2022 stood at 560. The total value of these permits reached €144.8 million and their total area 127.1 thousand square meters. These building permits provide for the construction of 601 dwelling units.
Compared to April 2021, the number of permits issued fell -10.7%, their total value fell -37.2% and their total value fell -37.1%.
The 560 permits were authorised for the following:
- Residential buildings – 400 (-9.3% from 441 in April 2021)
- Non-residential buildings – 74 (-19.6% from 92 in April 2021)
- Civil engineering projects – 33 (-25.0% from 44 in April 2021)
- Division of plots of land – 38 (unchanged from the number issued in April 2021)
- Road construction – 15 (up 25.0% from 12 in April 2021)
Permits for new homes
The 400 residential permits provided for the construction of 601 new homes (dwellings). These comprised:
- Single houses – 233 (-16.8% from 280 in April 2021)
- Two or more housing units – 56 (-24.3% from 74 in April 2021)
- Residential apartment blocks – 258 (-54.9% from 572 in April 2021)
- Residential/commercial apartment blocks – 54 (up 86.2% from 29 in April 2021)
Of those 601 new homes, 266 are destined for Nicosia, 226 for Limassol, 52 for Paphos, 47 for Larnaca and 10 for Famagusta.
Building Permits Issued for the Construction of New Homes
(Number of Dwelling Units)
| Month | 2021 (Dwellings) | 2022 (Dwellings) | Increase/Decrease | Change |
|---|---|---|---|---|
| January | 702 | 640 | -62 | -8.8% |
| February | 663 | 901 | 238 | 35.9% |
| March | 1033 | 962 | -71 | -6.9% |
| April | 955 | 601 | -354 | -37.1% |
| Totals | 3353 | 3104 | -249 | -7.4% |
Building permits year to date
During the first four of 2022, 2,511 permits were issued compared to 2,524 in the same period last year; a fall of 0.5%. The total value of these permits fell by 1.6%, their total area fell by 6.7% and the number of dwelling units fell by 7.4%.
According to the Cyprus Statistical Service “Building permits constitute a leading indicator of future activity in the construction sector.”
