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Cyprus property numbers and costs

By Nigel Howarth
Housing crisis exacerbated by permits approval

The Statistical Service of Cyprus (CySTAT) produces various figures concerning the Cyprus property market. They publish a Construction and Housing statistics report for 2005, and I’ve used this information to construct the chart below.

This shows the number of properties completed in each year together with the cost (not price) of construction per square metre (excluding the value of land).

Cyprus property numbers and construction costs

In 2005, the number of new dwellings completed rose 16,416, distributed as follows: Nicosia 4,280, Famagusta 1,562, Larnaca 2,968, Limassol 2,843 and Paphos 4,763.

The average construction cost was CYP 416/sqm. for houses and CYP 384/sqm. for apartments.

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