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Building Permits Up 17.3 Percent In The First Ten Months Of 2021, While Value Drops 8.2 Percent

Building Permits Up 17.3 Percent In The First Ten Months Of 2021, While Value Drops 8.2 Percent

Building permits issued in the first ten months of 2021 increased 17.3%, in relation to the same period of 2020, according to data released Thursday by the Statistical Service of Cyprus. The total area increased by 3.1% but the total value dropped by 8.2%.

From January to October 2021 a total of 6,671 permits were issued, in comparison to 5,689 on the same period of 2020, increasing by 17.3%. The dwelling units showed a 10.9% increase, for the same period. However, the total value for the new permits decreased by 8.2%, to €2.05 bn, in comparison to €2.24 bn for the period of January-October 2020.

According to the data, the permits increased in all districts, with the biggest increases recorded in Larnaka (38.8%) and Paphos (29.4%). New building permits increased by 12.3% in Limassol, by 10.7% in Nicosia and by 5.6% in Famagusta year-over-year.

Moreover, 663 new permits were issued during October 2021 by the municipal authorities and the district administration offices. The total value of these permits reached €186 million and the total area 173,7 thousand square metres. These building permits provide for the construction of 801 dwelling units.

Source: CNA

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