A significant decrease in the value and area of ​​building permits in Cyprus was recorded in the first seven months of 2020

За первые семь месяцев 2020 года на Кипре выдали 3893 лицензий на строительство
21 October 2020 Liza Medvetskaya
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A significant decrease in the value and area of ​​building permits in Cyprus was recorded in the first seven months of 2020, compared to the first seven months of 2019, despite the massive increase in the value and area of ​​building permits in July this year.

According to data from the Statistical Service, by province, an impressive increase, more than 100%, in the total value of building permits and the total area was recorded in Famagusta in the first seven months of 2020. Otherwise, in Limassol, a considerable decrease of 53.9% was recorded and by 31.3% in total value and total area, respectively. 

According to the Statistical Service, in July 2020, the number of building permits issued by municipal authorities and provincial administrations rose to 740, showing only a marginal decrease compared to July last year.

 On the contrary, these licenses' total value increased by 49% in July 2020 and reached € 441 800 000, compared to € 295 385 in July 2019.

The total area increased by 43.6% in July 2020 and amounted to 340 200 m2, compared to 236 796 in July 2019.

За первые семь месяцев 2020 года на Кипре выдали 3893 лицензий на строительство

These permits are expected to build 1 141 housing units, while in July 2019, it was planned to make 1 028. From January to July 2020, 3893 building permits were issued compared to 4 136 in 2019.

 The total value of these permits decreased by 22.3% and the whole area by 7.5%. The number of housing units increased by 1.6%.

According to the Statistical Service, building permits indicate future activity in the construction sector.

By province

During the period January - July 2020, 1 520 building permits were issued in Nicosia, compared to 1 424 in the corresponding period of 2019.

 The total value of these permits increased by 17.9% and the whole area by 10.8%. The number of housing units increased by 1.6%.

These permits provide for the construction of 1 984 housing units, while in the corresponding period last year, it was planned to build 1 635.

According to the Statistical Service data, in Famagusta, in the period January - July 2020, 187 building permits were issued compared to 174 in the corresponding period of 2019.

 These permits' total value recorded an impressive increase of 107.4%, and the whole area increased by 133.7%.

These permits provide for the construction of 361 housing units, while in the corresponding period last year, it was planned to build 239.

In Larnaca, in January - July 2020, 502 building permits were issued compared to 668 in the corresponding period of 2019.

The total value of permits recorded a decrease of 8.8%, and the whole area decreased by 18.9%.

These permits envisage the construction of 638 housing units, while in the corresponding period last year, it was planned to build 764. 

In Limassol, in the first seven months of 2020, 1146 building permits were issued compared to 1260 in the corresponding period of 2019.

These permits' total value recorded a considerable decrease of 53.9%, and the whole area a significant decline of 31.3%.

These permits provide for the construction of 1755 housing units, while in the corresponding period last year, it was planned to build 1933.

In Paphos, according to the data of the Statistical Service, during the period January - July 2020, 538 building permits were issued, compared to 610 in the corresponding period of 2019.

These permits' total value decreased by 5%, and the whole area decreased by 8.4%.

These permits envisage the construction of 574 housing units, while in the corresponding period last year, it was planned to build 657.

Source: inbusinessnews.reporter.com.cy
Photos: DOM LiVE, pixabay.com
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