07.10.2021
The Statistical Office of Cyprus has given a preliminary assessment of the housing price index (HPI). So, for the second quarter of 2021, this figure amounted to 104.07 units.
If we take the first quarter of 2021 as a comparison, the consumer price index increased by 1.2%. At the same time, the index for the first quarter of 2020 fell by 4.9%.
In the first quarter of this year, the index has already fallen by 5.8%.
Increase in the number of building permits
The Statistical Service also indicated the number of building permits that were issued in July 2021 – 727. They were issued by municipal authorities and district administrations. The total cost of these permits reaches 184.6 million euros, and the total area is 186.7 thousand square meters. With these permits, 874 housing units will be built.
Between January and July 2021, 4,717 building permits were issued compared to 3,893 in the corresponding period of the previous year, up 21.2%. The total cost of these permits decreased by 1.9%, while the total area increased by 10.8%. The number of housing units increased by 18.3%.
Building permits are a leading indicator of future activity in the construction sector.
