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28th November 2022
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HomeProperty StatisticsBuilding permits August 2022

Building permits August 2022

The number of building permits authorized in Cyprus during August 2022 stood at 510. The total value of these permits reached €166.3 million and their total area 146.0 thousand square metres. These permits provide for the construction of 687 dwelling units.

Compared to August 2021, the number of permits issued fell -2.5%, but their total value and area rose by 16.0% and 16.8% respectively.

The 510 permits were authorised for the following:

  • Residential buildings – 354 (up 1.1% from 350 in August 2021)
  • Non-residential buildings – 68 (-20.0% from 85 in August 2021)
  • Civil engineering projects – 42 (up 50.0% from 28 in August 2021)
  • Division of plots of land – 32 (-30.4% from 46 in August 2021)
  • Road construction – 14 (no change from August 2021)

Permits for new homes

The 354 residential permits provided for the construction of 687 new homes (dwellings), comprising:

  • Single houses – 186 (-25.6% from 250 in August 2021)
  • Two housing units – 78 (up 85.7% from 42 in August 2021)
  • Dwellings in residential apartment blocks – 408 (up 56.9% from 260 in August 2021)
  • Dwellings in residential/commercial apartment blocks – 15 (up 650% from 2 in August 2021)

Of those 1,146 new homes, 317 are destined for Nicosia, 537 for Limassol, 170 for Larnaca, 84 for Paphos and 38 for Famagusta.

There’s a significant shift from the construction of single houses to apartments, which may be attributed to the increased costs of building materials, energy and inflation (that stood at 8.90% at the end of August.)

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%
May 1061 893 -168 -15.8%
June 998 1146 148 14.8%
July 874 776 -98 -11.2%
August 554 687 133 24.0%
Totals 5412 5143 -234 -3.4%

Building permits year to date

During the first eight months of 2022, 5,032 permits were issued compared to 5,240 in the same period last year; down -4.0%. The total value of these permits fell -2.3%, their total area fell -7.7%, while the total number of dwelling units fell –3.4%.

Although more new homes are being built is Nicosia and Famagusta; up 10.4% and 3.3% respectively, the numbers are down in the three remaining districts; Limassol -5%, Paphos -12.6% and Larnaca -19.8%.

Cyprus Building Permits issued August 2022

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

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