08.08.2023
The Cyprus construction sector has seen a simultaneous increase in both the area and the cost of building permits issued by municipal authorities and district administrations during the first five months of 2023, according to a report from the State Statistical Service released on Tuesday.
Between January and May 2023, a total of 2,998 building permits were issued compared to 3,272 issued in the corresponding period of the previous year, reflecting a decrease of 8.4%.
The permits under consideration are expected to facilitate the construction of 1,033 housing units. Among them, there are 216 individual houses, 44 duplexes, 709 apartment buildings and 64 apartment buildings.
These building permits serve as an important indicator of forward-looking activity in the construction industry, offering insight into its future trajectory.
