11.08.2022
The number of building permits increased by 3.6% between January and May 2022 compared to the corresponding period last year, while both the cost of these permits and the total area decreased.
Across the provinces, there was a significant annual increase in the number of building permits in Famagusta, while declines were observed in Limassol and Larnaca.
According to the Statistical Service, 3,272 building permits were issued in the first five months of 2022, compared to 3,157 in the corresponding period of 2021.
The total cost of these licenses decreased by 6.8%, and the total area by 9.4%. The number of residential units decreased by 9.4%.
By province, Nicosia issued 1,181 building permits in the first five months of 2022, compared to 1,131 in the same period last year, and Limassol issued 945 building permits, compared to 958 last year.
In Famagusta, 170 building permits were issued compared to 114 in the corresponding five months last year, representing a significant increase of 49%, in Larnaca their number decreased to 480 compared to 516 last year, and in Paphos 496 permits were issued compared to up to 438 in the five months of 2021, marking an increase of 13.2%.
In addition, in May 2022, the number of building permits issued by municipal authorities and regional administrations reached 761.
The total value of these licenses reached 248.0 million euros, and the total area – 224.8 thousand square meters. According to these permits, it is planned to build 893 residential buildings.
According to the Statistical Service, building permits are an important indicator of future activity in the construction sector.
