Cyprus has long been very popular with foreign investors as a holiday destination or long-term stay.
Many people move here forever to live near picturesque nature, the sea and the almost year-round warm sun. The question of housing is solved in different ways: some take a long-term lease, others buy apartments in the secondary housing market or in new buildings, and still others build their houses in Cyprus.
Construction design and obtaining all necessary permits in Cyprus consists of several stages. The most important of these is obtaining a building license. In turn, the number of building permits is an important indicator of the future development of activities in the construction sector.
According to data released on Wednesday 7 July by the Statistical Service of the Republic of Cyprus, 627 building permits were issued by the municipal authorities and district administrations on the island in April 2021.
Of these, 441 fell on residential buildings, 92 - non-residential buildings, 44 - civil construction, 38 - the division of plots, 12 - road projects.
The total cost of these licenses was €230.6 million, and the total area was 192.9 thousand m2.
These permits provide for the construction of 955 housing units. Namely:
- 280 detached houses,
- 74 duplexes,
- 572 residential multi-apartment buildings,
- 29 mixed houses.
In turn, from January to April 2021, 2,524 building permits were issued on the island. This is 46.7% more than in the same period last year, when this figure was 1721.
The total cost of these licenses increased by 34.2%, the total area - by 36.0%, and the total number - by 49.8%.
If we look at the cities of Cyprus, from January to April, Paphos (+ 75.5%) became the leader in the increase in the area of licensed projects, followed by Nicosia (+ 38%), Limassol (+ 35.1%) and Larnaca (+29 , 6%).