On Wednesday 13th February the Cyprus Statistical Service published a new report on the number of building permits issued in the island state.
According to the authority, the number of permits fell to 423 in September 2024, compared to 612 in the same month of 2023. These licences had a total value of 160.5 million euros and a total area of 129.1 thousand m2. A total of 706 residential units will be built under these licences.
According to experts, this trend is directly related to the transfer of powers to the new regional local government organisations (EOA). In addition, problems with the new integrated information system Hippodamus also played a role in the noticeable drop in the volume of building permits issued in September. As a result, the processing of applications was significantly delayed.
On the other hand, 5 485 building permits were issued in Cyprus in January-September 2002, compared with 5 274 in the corresponding period of the previous year.
This represents an increase of 4%. The total value of these permits increased by 8.9%, the total area by 10.6% and the number of residential units by 10%. On a year-on-year basis, the area of licensed projects increased in all Cypriot towns except Nicosia (-13.8% or 574.9 m2). In the free zones of Famagusta, the figure increased by 176.2% or 135.8 m2, in Paphos by 20.5% or 203.7 m2, in Larnaca by 50.4% or 348 m2 and in Limassol by 5.8% or 588.7 m2.