According to the latest data from the Cyprus Statistical Service, 2,157 building permits were issued on the island between January and April of 2025. This represents a 15.2% decrease compared to the same period in 2024, when 2,545 permits were issued. Despite this decrease, the total value of projects increased by 15.4%, and the area under construction increased by 13.3%. These figures suggest that new projects in Cyprus are becoming larger and more capital-intensive.
Residential development is the growth driver
The number of residential properties licensed in the first four months of 2025 increased by 12.1%, indicating stable interest in this type of real estate. This is particularly relevant given continuing demand from local residents and foreign investors. Conversely, there was a sharp decline in permits for other types of construction, including roads (-77.5%), non-residential buildings (-41.3%), and infrastructure facilities (-22.8%). This may indicate a shift in priorities toward residential construction and the private sector.
April in figures: fewer permits, but higher value
In April 2025, Cyprus issued 577 building permits, which is 13.8% fewer than the 669 permits issued in April 2024. However, the total value of these projects was an impressive €255.2 million, with a total area of 204,000 m². The permits are for the construction of 909 residential units, suggesting a revival in the housing market, despite the overall downward trend in project numbers.
New permit system and digitalization
On July 1, 2024, Cyprus implemented a reform of its construction licensing system. Responsibility for issuing permits was transferred from municipalities to new District Self-Government Organizations. All processes now go through the Ippodamos digital platform, which is designed to speed up and simplify the permit application process.