07.08.2024
According to data published on Wednesday by the Cyprus Statistical Service, the number of building permits issued from January to May 2024 increased by 8.5%. A total of 3,254 permits were issued during this period, compared to 2,998 permits issued in the same period last year.
The total value of these permits rose by 8.4%, while the total area of the projects increased by 13.4%. The number of new residential units grew by 17.1%.
In May 2024, municipal and district authorities issued 709 building permits. The total value of these permits amounted to €271.6 million, with a total area of 213,800 square meters. These permits cover the construction of 990 residential units.
Building permits are a significant indicator of future activity in the construction sector.
