11.02.2023
Non-residential building permits recorded a 5.1% year-on-year decline, falling to 1,088 from 1,146, and lot subdivision was down 3.8% year-on-year.
Conversely, civil engineering projects rose 13.9% year-on-year between January and November, with permits at 475 compared to 417, while road construction increased significantly by 22.4%.
The total number of residential units decreased by 5.1% year on year in the first eleven months of 2022, falling to 8,979 from 9,466 in the corresponding period of 2021.
The total area of building permits issued during this period also decreased by 5.1% year on year.
The total cost of building permits between January and November 2022 was 2.28 billion euros, up 1.2% from 2.25 billion euros in the corresponding period last year.
The number of building permits in Nicosia fell to 2,561 between January and November 2022, compared to 2,730 in the corresponding period last year.
Limassol was in second place with 2003 building permits compared to 2049, followed by Larnaca with 1093 permits to 1172 and Paphos with 956 permits to 1113. The only area where the number of licenses increased was Famagusta with 373 permits compared to 322 in 2021.
Meanwhile, the number of building permits reached 639 in November alone. The total value of these permits reached 224.7 million euros, and the total area was 199,400 square meters. With these permits, 820 residential units will be built.
Building permits are an important indicator of future activity in the construction sector.
