On Tuesday 11th March 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 470 in October 2024, compared to 632 in the same month of 2023. The total value of these permits amounted to 177.8 million euros and a total surface area of 147 thousand m2. A total of 790 residential units are to be built under these licences.
Experts have noted that 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 significant role in the noticeable decrease in the volume of building permits issued in September. As a result, the processing of applications was significantly delayed.
On the other hand, 5,955 building permits were issued in Cyprus in January-October 2002, compared with 5,906 in the corresponding period of the previous year.
This represents an increase of 0.0%. The total value of these permits increased by 4.3%, the total area by 6.4% and the number of residential units by 6.5%. On a year-on-year basis, the area of licensed projects increased in all Cypriot towns except Nicosia (-18%). In the free zones of Famagusta, this indicator increased by 152%, in Paphos by 8%, in Larnaca by 43% and in Limassol by 7%.