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Property Statistics

Property construction continues slowdown

ACCORDING to figures just released by the Cyprus Statistical Service, CYSTAT, output in the property construction sector continues to slowdown. The number of building permits issued during the first four months of 2008 fell to 2,788 – a reduction of 15.2% over the same period last year when 3,286 were issued. Although the number of […]

Construction material prices up

ACCORDING to figures released by the Cyprus Statistical Service, CYSTAT, the price of construction materials during the 12 months ending May 2008 increased by 12.25%. The highest increase was recorded in petroleum products, where prices soared by a massive 37.65%. Increases in other commodities prices were: Wood 2.92% Stone and quarrying materials 9.45% Paints, enamels […]

Construction activity in recession

ACCORDING to the latest figures provided by Cyprus Statistical Service, CYSTAT, construction activity is going through a recession. The number of building permits issued during the first quarter of 2008 stood at 2,125 compared to 2,537 during the same period last year. Compared to the first quarter of 2007: the number of building permits issued […]

Cyprus building permits continue to fall

THE number of building permits issued for the construction of property in Cyprus continues to decline. According to the Cyprus Statistical Service, CYSTAT, the number of permits authorised during January and February 2008 stood at 1,401 compared to 1,551 In January and February 2007. These provided for the construction of 2,812 dwelling units compared to […]

Gloomy Cyprus property figures and economic outlook

THE number of building permits issued for the construction of property in Cyprus continues to decline, reinforcing the IMFs gloomy economic outlook for the island. According to the Cyprus Statistical Service, CYSTAT, the number of permits authorised during January 2008 stood at 687 compared to 738 in January 2007. These building permits provide for the […]

Cyprus property price index reaches 173.6

FIGURES just released by CySTAT indicate that the price index of new properties in Cyprus has reached 173.6. Cyprus Statistical Service’s (CySTAT) quarterly index measures the changes in unit prices charged to clients for the construction of buildings. It includes the costs of materials used in the construction of property, labour, energy, transport, etc, as […]

Cyprus property output slows

ACCORDING to Eurostat data released on 12th March, construction output in Cyprus has slowed, boosting estimates that the island’s economy will grow slower in 2008. Specifically, construction output in the fourth quarter of 2007 grew by 3% compared to 9% in the third quarter of 2007, 7.5% in the second quarter of 2007 and 4.2% […]

Building permits top 20,000

Earlier today, the Cyprus Statistical Service (CySTAT) announced that during 2007, the number of dwelling units for which building permits had been authorised topped 20,000 for the first time ever, reaching a staggering 20,486. Although the numbers were slightly down for Nicosia and Paphos, they were up for Limassol, Larnaca – and most notably Famagusta, […]

Cyprus property numbers and costs

The Statistical Service of Cyprus (CySTAT) produces various figures concerning the Cyprus property market. They publish a Construction and Housing statistics report for 2005, and I’ve used this information to construct the chart below. This shows the number of properties completed in each year together with the cost (not price) of construction per square metre […]

Cyprus property statistics: building permits to Oct 2007

The Cyprus Statistical Service (CySTAT) has announced that the number of building permits authorised by the Municipal Authorities and the District Administration offices during October 2007 stood at 797. The total value of these permits reached CYP 144.4 million and the total area 318.1 thousand square metres. These building permits provide for the construction of […]

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