Insider Business Construction activity increases 20.7% in 2016

Construction activity increases 20.7% in 2016

Construction activity registered an increase of 20.7% in 2016 compared to an increase of 0.2% in 2015, based on the production index of the sector.

According to the annual report “Construction and Housing Statistics, 2016” released Thursday by the Statistical Service of Cyprus, the production value of the construction sector increased in 2016 by 22.2% to €2,146.9 million compared to €1,756.9 million in 2015. The value added at current prices recorded an increase of 23.5%.

Τhe share of new construction in residential buildings is estimated at 50.8% of the total and of non-residential buildings at 27.7%, while civil engineering projects accounted for 21.5%. The corresponding figures for 2015 were 48.9% for residential buildings, 27.3% for non-residential buildings and 23.7% for civil engineering projects.

The number of persons employed in the sector in full time equivalent terms increased from 19,242 persons in 2015 to 21,130 persons in 2016.

The number of persons registered as unemployed decreased from 5,295 persons in 2015 to 4,094 persons in 2016.

The price index of construction materials decreased by 1.7% in 2016, following a decrease of 2.7% in 2015.

The number of new dwellings completed increased by 7.5% to 2,570 housing units compared to 2,390 in 2015. By administrative district, the number of new dwellings is distributed as follows: Lefkosia (Nicosia) 745, Ammochostos (Famagusta) 170, Larnaka 469, Lemesos (Limassol) 791 and Pafos 395.

The average area per dwelling completed in 2016 was 239 square metres for houses and 150 square metres for apartments, compared to 216 and 134 respectively in 2015.

The cost of construction per square metre (excluding the value of land) increased from €1,009.5 in 2015 to €1,018.6 in 2016 for houses and from €839.6 in 2015 to €902.3 in 2016 for apartments.

The dwelling stock at the end of 2016 amounted to 449 thousand dwelling units, of which 60.9% were in the urban areas.

(Cyprus News Agency)

Top Stories

Four remanded over French Embassy Muslim protest

  The Nicosia District Court remanded four people in custody for five days in connection with violent incidents at a protest outside the French Embassy...

Turkey out of control against Cyprus, Greece and France, President says

  Turkey is climaxing its threats not just against Cyprus and the sovereign rights of Greece, but France too, President Anastasiades said, making clear that...

Man beaten and mugged at his home parking place in Limassol

  A 48 year old has told police that he was beaten and mugged at his apartment building parking place at around seven thirty last...

Dozens of fines for masks, as intensified covid checks continue

  Dozens of people were fined for not wearing their masks over the past 24 hours, as police continued an intensified covid-19 campaign to prevent...

Covid case at a Limassol port container terminal

  A Covid-19 case was confirmed at the Eurogate container terminal in the Limassol port. All the relevant health ministry protocols were followed to protect staff,...


Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...


No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...