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Building Permits In First Half Of 2021 Mark Significant Recovery

Building Permits In First Half Of 2021 Mark Significant Recovery

Building permits issued in the first half of 2021 marked significant recovery compared with the Covid-hit first half of last year, while exceeding the respective levels of the first half of 2019, according to data released by the Statistical Service of Cyprus (Cystat).

According to Cystat, during the period January – June 2021, 3.990 building permits were issued compared to 3,153 in the corresponding period of the previous year, recording an increase of 26.5%. The total value of these permits increased by 20.5% amounting to €1.34 billion (from €1.1 bl in H1 2020) and the total area by 31% to 1.23 million square metres. The number of dwelling units recorded an increase of 29,8%.

The number of building permits issued in the first half of 2021 exceeded the pre-Covid levels marking an increase of 17.6% compared with the permits issued in the first half of 2019.

For June 2021, the number of building permits authorized by the municipal authorities and the district administration offices during June 2021 stood at 833. The total value of these permits reached €270,4 million and the total area 263,7 thousand square metres. These building permits provide for the construction of 998 dwelling units, Cystat said.

The number of building permits issued in the first half of 2021 marked annual increases in all districts.

In Nicosia, the number of building permits issued in the first half of 2021 rose by 15.3% year on year with total area amounting to 383,443 square meters up by 22% year on year and total value amounting to €393.2 million up by 5.1% year on year.

In Famagusta building permits rose by an annual 21.7% reaching 174, while total area fell to 80,902 square metres or -10.5% year on year and total value declined to €88.8 million marking an annual reduction of 24% year on year.

Building permits rose by an annual 65% in the first half of 2021 in Larnaca amounting to 668, while total area rose to 226,321 square metres marking an increase of 63.3% year on year and total value amounted to €225.4 million, rising by an annual 33.4%.

In Limassol building permits in the first half of 2021 rose by an annual 21.1% and amounted to 1,151. The total area also rose by 21.1% amounting to 344,392 sq. metres, while total value amounted to €389.3 million marking an increase of 23% year on year.

According to Cystat, in Pafos, building permits issued in the first half of 2021 amounted to 577 marking an annual increase of 36%. The total area of these permits amounted to 195,748 sq. metres recording a spike of 75% year on year while the total value rose by 68% year on year amounting to €241.8 million.

Source: CNA

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