Building permits decreased both in value and in area the first semester of 2022

A decrease in both the area and value of the new building permits issued in the first half of 2022, was recorded according to data published by the Statistical Service on Tuesday.

During the period January – June 2022, a total of 3,898 building permits were issued compared to 3,990 in the corresponding period of the previous year, marking a decrease of 2.3%. Specifically, building permits for residential buildings decreased by 6.2% in this period, while permits for road construction and civil engineering projects increased by 34.8 and 24.9% respectively.

At the same time, the total value of these permits decreased by 9.1%, with the value of residential buildings falling by 11.6% and the value of road construction and civil engineering projects increasing by 25.6% and 35.1%. respectively.

The total area also decreased by 12.4%, compared to the corresponding period of 2021, as the area of residential buildings fell by 10.9% and non-residential by 21.4%.

The number of residential units showed a decrease of 5%. Single houses decreased by 9.6%, buildings with two housing units by 6% and residential apartment blocks by 3%, while residential/commercial apartment blocks increased by 7.2%.

The number of building permits authorized by the municipal Authorities and district administration offices in June 2022 stood at 626. The total value of these permits reached €220.1 million and the total area 202.1 thousand square meters. These permits provide for the construction of 1,146 dwelling units.

Source: Cyprus News Agency