THE TOTAL number of building permits authorised in Cyprus during May 2019 stood at 709 compared with the 612 authorised during May 2018; an increase of 15.8% according to official figures published by the Cyprus Statistical Service.
The total value of these permits more than doubled to reach €287.9 million and the total area rose 82% to reach 258.5 thousand square metres compared to May 2018.
These permits provided for the construction of 907 new homes, an increase of 67.7% compared to the 541 new homes in May 2018.
During May 2019, building permits were authorised for:
Residential buildings – 445 permits
Non-residential buildings – 99 permits
Civil engineering projects – 27 permits
Division of plots of land – 24 permits
Road construction – 17 permits
Building permits for new homes
The 445 residential building permits authorised in May 2019 provided for the construction of 907 new homes (dwellings). These comprised 310 single houses (compared with 305 in May 2018) and 597 multiple housing units including apartments, semis, townhouses and other residential complexes (compared with 236 in May 2018).
Of those 907 new homes, 307 are destined for Nicosia, 260 for Limassol , 157 for Larnaca, 137 for Paphos and 46 for Famagusta.
Building Permits Issued for the Construction of New Homes (Number of Dwellings)
Annual construction figures
During the period January – May 2019, 2,820 building permits were authorised compared to 2,596 in the same period last year. Their total value increased by 128.2% and their total area by 53.8%. The number of new homes authorised rose by 45.2%. The 2,820 permits issued over the period provided for the construction of 1,263 new homes in Limassol, 1,045 in Nicosia, 457 in Larnaca, 424 in Paphos and 109 in Famagusta. According to the Cyprus Statistical Service, building permits constitute a leading indicator of future activity in the construction sector.
Read more at: https://www.news.cyprus-property-buyers.com/2019/08/09/building-permits-authorised-for-new-homes/id=00157156
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