Nicosia: The number of building permits authorized in Cyprus during May 2025 stood at 607, marking a decrease of 14.4% compared to the 709 permits issued in May 2024, as reported by the Statistical Service of Cyprus. This decline highlights a significant shift in the construction sector.
According to Cyprus News Agency, the total value of these permits amounted to £315 million, with a total area of 261.6 thousand square meters. These permits allow for the construction of 1,163 dwelling units. Despite the decrease in the number of permits, the period between January and May 2025 saw a total of 2,764 building permits issued, down from 3,254 in the same period the previous year, reflecting a 15.1% decrease.
Interestingly, during the same period, the total value of permits increased by 15.5%, and the total area saw a rise of 15.2%. Additionally, the number of dwelling units authorized recorded an increase of 13.2%. This suggests a trend towards larger and potentially more valuable construction projects, despite the overall decrease in the number of permits.
It is noteworthy that from July 1, 2024, the responsibility for issuing building permits transitioned from municipalities and district administration offices to newly established Local Government Organisations (LGOs). The licensing process is now managed through the ‘Ippodamos’ integrated information system, reflecting a significant shift in administrative procedures for building permits in Cyprus.