THE NUMBER of building permits authorised in June 2014 stood at 463 compared with the 416 authorised in June last year; an increase of 11%, according to figures released by the Cyprus Statistical Service.
Compared to June 2013, the total area of these permits increased by 4% to 66,307 thousand square metres from 63,687, while their value increased 10% to €70.7 million from €64.6 million.
During June, building permits were issued for:
- Residential buildings – 303 permits
- Non-residential buildings – 108 permits
- Civil engineering projects – 12 permits
- Division of plots of land – 35 permits
- Road construction – 5 permits
Building permits for new home construction
The 303 residential building permits authorised in June provided for the construction of 277 dwelling units comprising 131 single houses and 146 multiple housing units (such as apartments, semis, townhouses and other residential complexes).
This is an increase of 41% compared with June 2013 when building permits were issued for the construction of 197 new homes.
During the first half of 2014, a total of 2,560 building permits were authorised; a fall of 5% compared to the 2,701 permits authorised during the same period last year. The total value of these permits has fallen by 33%, while their total area has also fallen by 33%.
Building permits by district
Nicosia – the number of authorised building permits fell to 967 from 977 in the first half of 2013; their total value fell to €135.62 million from €196.07 million, while the construction of new residential units fell to 395 from 676.
Limassol – the number of authorised building permits fell to 642 from 714 in the first half of 2013; their total value fell to €107.68 million from €152.03 million, while the construction of new residential units fell to 321 from 475.
Larnaca – the number of authorised building permits fell to 366 from 395 in the first half of 2013; their total value fell to €89.09 million from €165.05 million, while the construction of new residential units fell to 193 from 310.
Famagusta – the number of authorised building permits fell to 120 from 177 in the first half of 2013; their total value fell to €19.18 million from €54.53 million, while the construction of new residential units fell to 57 from 361.
Paphos – in contrast to the other districts, the number of authorised building permits rose from 438 in the first half of 2013 to 465. However, their total value fell to €80.87 million from €81.41 million, while the construction of new residential units fell to 385 from 471.
According to the Statistical Service, building permits constitute a leading indicator of future activity in the island’s construction sector.