13.01.2023
Between January and October 2022, there was a 4.9% decrease in building permits issued between January and October 2022, according to city and district governments.
According to the Cyprus Statistical Service, 6,347 building permits were issued between January and October 2022 compared to 6,671 in the corresponding period of the previous year, representing a decrease of 4.9%.
The total cost of these permits remained at the level of the previous year, while the total area decreased by 5.9%. The number of housing units decreased by 4.6%.
October 2022 also saw an annual decline in building permits. In particular, 646 permits were issued in October 2022 compared to 663 permits in October 2021. The total value of these permits reached 203.7 million euros, compared to 186 million euros. in the corresponding month of 2021 and a total area of 186.6 thousand square meters compared to 173.6 thousand square meters in October 2021.
By area, the highest number of building permits (220) were issued in October 2021 in Nicosia, followed by Limassol (190), Larnaca (121), Paphos (87) and Famagusta (28) permits were recorded in Limassol in the amount of €92.6 million and 78,872 thousand sq. m respectively.
