Building permits up 17.3% in the first ten months of 2021

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.