Building permits down by 4.9% in the first ten months of 2022

A decrease of 4.9% was recorded in building permits issued during the period January – October 2022, according to data from municipal authorities and district administrations.

According to the Statistical Service of Cyprus, during the period January – October 2022, 6,347 building permits were issued compared to 6,671 in the corresponding period of the previous year, recording a decrease of 4.9%.

The total value of these permits remained at the level of the preceding year, while the total area declined by 5.9%. The number of housing units recorded a decrease of 4.6%.

A year-over-year decrease in building permits was also recorded in October 2022. Specifically, in October 2022, 646 permits were issued, compared to 663 in October 2021. The total value of these permits reached €203.7 million compared to €186 million in the corresponding month of 2021 and the total area 186.6 thousand square meters compared to 173.6 thousand square meters in October 2021.

By district, the biggest number of building permits (220) were issued in October 2021 in Nicosia, followed by Limassol with 190, Larnaca with 121, Pafos with 87 and the Famagusta with 28. The highest total value and the largest total area of these permits were recorded in Limassol, amounting to €92.6 million and 78,872 thousand square meters respectively.

Source: Cyprus News Agency