Building permits October 2015

THE NUMBER of building permits authorised during October 2015 stood at 467 compared with the 466 authorised in October 2014; an increase of 0.2%, according to the latest figures from the Cyprus Statistical Service.

Compared with October 2014, the total area of these permits rose 9.6% to 76,820 square metres from 70,071, while their value rose 10.5% to €81.8 million from €74.1 million.

During October 2015, building permits were issued for:

• Residential buildings – 324 permits

• Non-residential buildings – 89 permits

• Civil engineering projects – 11 permits

• Division of plots of land – 39 permits

• Road construction – 4 permits

During the first ten months of 2015 the number of building permits authorised for both residential and non-residential projects has fallen by 0.5% to 4,160 compared with the 4,180 authorised in the first ten months of 2014, while their value has risen by 18.3% to €846.0 million and their area has increased by 14.2% to 735.2 thousand square metres.

Building permits – new home construction

The 324 residential permits approved in October provided for the construction of 290 new dwellings comprising 158 single dwellings and 132 multiple dwelling units (such as apartments, semis, townhouses and other residential complexes).

This is an increase of 7.0% compared with October 2014 when building permits were issued for the construction of 271 new dwellings.

Building Permits Issued for the Construction of
New Homes (Number of Dwellings)

According to the Cyprus Statistical Service, building permits constitute a leading indicator of future activity in the construction sector.