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Increase of 16.2% for building permits in 2021

Increase of 16.2% for building permits in 2021

11.03.2022

Between January and December 2021, 8,164 building permits were issued by city and district administrations, compared to 7,023 in the corresponding period of the previous year, representing an increase of 16.2%.

The total cost of these permits decreased by -7.8%, although the cost of residential buildings remained the same. The decrease was mainly noted in road construction (41.9%), in non-residential buildings (32.9%) and in civil engineering facilities (35%).

On the other hand, the total area increased by 3.8%, mainly due to an increase in the area of ​​residential buildings by 8%. The area of ​​non-residential buildings and civil engineering facilities decreased (13.1% and 58.2%, respectively).

The number of residential units increased by 13.1%. In particular, in 2021, the number of single-family houses increased by 14.4%, and multi-family houses – by 17.9%.

In December 2021, the number of building permits issued by municipal authorities and district administrations amounted to 778. The total value of these permits reached 241.1 million euros, and the total area reached 224.8 thousand square meters. These building permits provide for the construction of 1,040 housing units.

Building permits are a leading indicator of future activity in the construction sector.

Source and photo: www.stockwatch.com.cy, Editor estateofcyprus.com

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