13.12.2022
The number of building permits issued in Cyprus showed a new year-on-year decline in September, while the construction sector was negatively affected by a wave of rising prices.
According to the Statistical Service, the number of building permits issued by municipal authorities and regional administrations in September 2022 reached 670 compared to 761 in the corresponding period last year.
The total value of these licenses reached 226.9 million euros, and the total area – 202.8 thousand square meters. With these permits, it is planned to build 760 housing units.
Between January and September 2022, 5,701 building permits were issued compared to 6,008 in the corresponding period of the previous year, representing a decrease of 5.1%.
The total value of these licenses amounted to 1.85 billion euros, showing a decrease of 1.0%, while the total area decreased by 7.2%. The number of residential units decreased by 4.9%.
By province, the number of building permits between January and September 2022 in Nicosia decreased to 2101 from 2198 in the corresponding period last year, in Larnaca to 864 from 967, in Limassol to 1645 from 1688, and in Paphos the number of building permits dropped to 701 from 901 between January and September 2021 . The only province where building permits increased in the first half of 2022 was Famagusta , where they stood at 304 from 254 in the corresponding period last year.
Building permits are an important indicator of future activity in the construction sector.
