In March 2020, the month during which Cyprus introduced COVID-19 containment measures, 397 building permits were issued; a fall of 23.9% compared to 522 in the same month last year according to official figures released by the Cyprus Statistical Service.
The total area of the permits fell by 4.5% and their total value fell by 21.6%, reaching 135.7 thousand square metres and €139.8 million respectively.
The permits provided for the construction of 524 new homes, a fall of 14.8% compared to 615 in March 2019.
During March 2020, the 397 permits were authorised for:
- Residential buildings – 286 permits
- Non-residential buildings – 56 permits
- Civil engineering projects – 16 permits
- Division of plots of land – 25 permits
- Road construction – 14 permits
Building permits for new homes
The 286 residential permits provided for the construction of 524 new homes (dwellings). These comprised 206 single houses; a fall of 27.7% compared to the 285 authorised in March 2019 – and 80 multiple housing units including apartments, semis, townhouses and other residential complexes; a fall of 19.2% compared to the 99 authorised in March 2019.
Building Permits Issued for the Construction of New Homes
(Number of Dwellings)
| Month | 2019 (Dwellings) | 2020 (Dwellings) | Increase/Decrease | %age Change |
|---|---|---|---|---|
| January | 548 | 696 | 148 | 27.0% |
| February | 576 | 680 | 104 | 18.1% |
| March | 615 | 524 | -91 | -14.8% |
| Totals | 1,739 | 1,900 | 161 | 9.3% |
Of those 524 new homes, 178 are destined for Nicosia, 155 for Limassol, 122 for Paphos, 35 for Famagusta and 34 for Larnaca.
Annual construction figures
A total of 1,526 building permits were authorised during the first quarter of 2020, compared to 1,591 in the same period last year. Their total value rose by 4.6% and their total area by 5.7%. The number of permits authorised for the construction of new homes fell by 5.6%.
The 1,101 residential building permits authorised during the first quarter of 2020 provided for the construction of 1,900 new homes; 682 in Limassol, 618 in Nicosia, 240 in Paphos, 221 in Larnaca and 139 in Famagusta.
According to the Cyprus Statistical Service, building permits constitute a leading indicator of future activity in the construction sector.
