Cyprus saw a sharp rise in building activity in May, with the number of authorised building permits climbing by 21.1% year on year.
A total of 735 building permits were authorised during the month, according to the Cyprus Statistical Service. The permits had a combined value of €428.2 million and covered 352,126 square metres of floor area. They also provide for the construction of 1,847 dwelling units.
The figures point to a strong start to the year for Cyprus’ construction sector. Between January and May, authorities issued 3,650 building permits, up from 2,764 during the same period in 2025. That represents a 32.1% increase in the number of permits.
The value of approved projects also rose, increasing by 43.9% to €2.10 billion. The total permitted area grew by 43.1% to 1.70 million square metres. At the same time, the number of planned homes jumped by 63.7% to 8,978 units.
Apartment development drives housing growth
Residential buildings were the largest category during the first five months of 2026, with 2,684 permits issued. That was 31.3% more than the 2,044 permits recorded in the same period last year.
Residential projects also accounted for much of the increase in permitted floor space. The total reached 1.54 million square metres, compared with 947,511 square metres a year earlier. This represents a rise of 62.8%.
The value of residential building permits rose by 61.6% over the same period, reaching €1.79 billion. By comparison, the value of permits for non-residential buildings fell by 28.8% to €196.5 million.
Apartment blocks were a major part of the increase in planned housing. Permits covered 6,667 units in residential apartment blocks between January and May, compared with 3,497 in the same period of 2025.
That represents a 90.6% increase in the number of units planned in residential apartment blocks. Single houses increased more modestly, with 1,469 units approved compared with 1,369 a year earlier, while buildings with two housing units rose 20% to 547 units.
Wider construction activity also rises
The increase was not limited to residential development. Permits for civil engineering projects rose by 26% to 213 during the first five months of the year.
There was also a substantial increase in plot division activity. The number of permits reached 343, up 62.6% from 211 a year earlier. Road construction permits rose from 32 to 80, an increase of 150%.
The value of civil engineering projects increased by 39.9% to €85.8 million. The value of plot division projects almost doubled, rising 99.2% to €23.4 million. Road construction values increased by 66.4% to €4.1 million.
Source: Cyprus Statistical Service, Building Permits: May 2026, published 16 September 2026.
