Compared to December 2017, the total value of all building permits rose by 4.9% to €158.8 million but their total area fell by 25.5% to 139.9 thousand square metres.
During December 2018, permits were issued for:
- Residential buildings – 346 permits
- Community residences – 1 permit
- Non-residential buildings – 63 permits
- Civil engineering projects – 27 permits
- Division of plots of land – 34 permits
- Road construction – 8 permits
The 346 permits for residential building approved in December provided for the construction of 504 new homes (dwellings) comprising 215 single houses and 289 multiple housing units such as apartments, semis, townhouses and other residential complexes.
Of those 504 new homes, 181 are destined for Nicosia, 167 for Limassol, 75 for Paphos, 44 for Famagusta and 37 for Larnaca.
Building Permits Issued for the Construction of New Homes
(Number of Dwellings)
| Month | 2017 (Dwellings) | 2018 (Dwellings) | Increase/Decrease | %age Change |
|---|---|---|---|---|
| January | 381 | 476 | 95 | 24.9% |
| February | 383 | 431 | 48 | 12.5% |
| March | 412 | 467 | 55 | 13.3% |
| April | 289 | 418 | 129 | 49.6% |
| May |
424 | 541 | 117 | 26.6% |
| June |
381 | 506 | 125 | 32.8% |
| July | 537 | 632 | 95 | 17.7% |
| August | 244 | 453 | 209 | 85.7% |
| September | 362 | 576 | 211 | 59.1% |
| October | 543 | 617 | 74 | 13.6% |
| November |
658 |
580 |
-78 |
-11.9% |
| December |
325 |
504 |
179 |
55.1% |
| Totals | 4,939 | 6,201 | 1,262 | 25.6% |
Annual figures
During the period January – December 2018, 6,408 permits were issued compared to 4,053 in the corresponding period in 2017; an increase of 9.9%, while their total value and area increased by 8.5% and 18.0% respectively.
The 6,408 permits issued in 2018 provided for the construction of 2,122 new homes in Nicosia, 2,032 in Limassol, 964 in Larnaca, 646 in Paphos and 437 in Famagusta.
According to the Cyprus Statistical Service, building permits constitute a leading indicator of future activity in the construction sector.