Insider Economy Building permits significantly increase in January – October 2019

Building permits significantly increase in January – October 2019

The number of building permits issued in the period January – October 2019 increased by 10%, registering also a significant increase in both their total value and the total covered area, compared to the corresponding ten-month period of 2018.

According to data released Tuesday by the Statistical Service of Cyprus, during the period January – October 2019, 5,864 building permits were issued by the municipal authorities and the district administration offices compared to 5,332 in the corresponding period of the previous year. The total value of these permits increased by 70.4% and the total area by 44.4%. Τhe number of dwelling units recorded an increase of 48.7%.

The largest increases were recorded in Limassol with the number of permits increasing to 1,780 from 1,574 in the corresponding period of 2018, with the increase in total area and value of these permits to be even more impressive. The value increased by 218% and the total area covered by 119.7%. The number of building permits also increased in Nicosia to 2,070 from 1,964 in the same period of 2018 (7.8% increase in the total area), in Larnaca to 898 from 874 (37.8% increase in the total area), and in Paphos to 858 from 641 (33. 9% increase in the total area). A decrease was recorded in Famagusta with permits totalling 258 from 280 in the same period of 2018 (25.2% decrease in the total area).

The building permits issued in October 2019 stood at 663. The total value of these permits reached €216.1 million and the total area 179.9 thousand square metres. These building permits provide for the construction of 744 dwelling units.

(Cyprus News Agency)

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