On Monday 8 July, the Cyprus Statistical Service released new data on the number of building permits issued in the island state.
According to the agency's report, the number of permits issued in Cyprus has increased.
Municipal and district authorities issued 669 permits to local developers in April 2024, up from 583 a month earlier. The total value of these licences was €261.3 million compared to €260.1 million in March, and the total area was 192.3 thousand m2 compared to 225.7 thousand m2 in the previous month. A total of 930 residential units will be built under these permits.
In turn, 2,545 building permits were issued in Cyprus in the period January to April 2002, compared to 1,876 in the same period of the previous year.
This represents an increase of 8.3%. The total value of these permits increased by 8.9 per cent, while the total floor area increased by 15.7 per cent and the number of residential units by 24.2 per cent. Compared to the same period in 2019, the area of licensed projects increased by 17.2 per cent.
On a year-on-year basis, in January-April 2024, an increase in the area of licensed projects was registered in all Cypriot cities except Limassol (-1.4%). In the vacant areas of Famagusta, the number increased by 55.9%, in Paphos by 50.4%, in Larnaca by 31.8% and in Nicosia by 13.7%.
Compared to January-April 2019, the area of authorised projects increased in Nicosia (+85.4%), Larnaca (+65.1%), Paphos (+22.9%) and the vacant areas of Famagusta (+76.3%), and decreased in Limassol (-32.3%).