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The number of building permits issued has plummeted

The number of building permits issued has plummeted

Under the influence of the pandemic and the cancellation of the passport program, developers have reduced the volume of construction, which was the reason for the decrease in the number of building permits issued. In total, in Cyprus, their volume decreased by 23% year on year from January to November 2020.

Based on information provided by the Statistical Office of Cyprus (Cystat), the total number of building permits issued in the first 11 months of 2020 decreased by 3% compared to 2019, 6375 and 6571 respectively.

At the same time, the cost of these permits also fell by a significant 23% and amounted to 1.6 billion euros. While in 2019 their value was 3.3 billion euros.

The total volume of building permits issued from the beginning of the year to the end of autumn 2020 decreased by 8.6% year on year, while the number of residential properties increased by only 0.2%.
The main damage occurred in large-scale construction: the number of permits issued in this area decreased to 595, while in the same period in 2019 it was 629, and the cost of building permits also fell to 1.6 billion euros. Losses are 32%.

Cystat reports that 2,477 building permits were issued in Nicosia in 11 months of 2020, up from 2,334 in 2019, while in Famagusta, the volume of permits increased to 318, while in 2019 it was only 282.
The first 11 months of 2020 in Larnaca were marked by a decrease in the number of building permits – a total of 871 were issued, for comparison, in the same period last year, their volume was 1020.During the same period, Limassol and Paphos also suffered losses – the number of permits issued in them amounted to 1854 and 855, respectively.

In November 2020, a total of 686 building permits were issued, while in October the number of permits issued by municipal authorities and district administrations was 583.

Thus, construction permits were issued for a total amount of 295.6 million euros, and the total area of ​​the plots amounted to 228.4 thousand square meters. m. Thanks to these building permits, 831 housing units will be built, according to the Statistical Service of Cyprus.

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