The number of new homes in Cyprus for which building permitshave been issued rose by 25.3 per cent in September 2017 compared to September2016 according to the Cyprus Statistical Service.
Filed Under THE NUMBER of building permits authorised inCyprus during September 2017 stood at 509 compared with the 467 authorisedduring the same month last year; an increase of 9.0% according to officialfigures released by the Cyprus Statistical Service. The total value of thesepermits rose by 17.5% to reach €116.8 million compared to September 2016, whiletheir total area rose by 21.3% to reach 105.4 thousand square metres. DuringSeptember 2017, building permits were issued for: Residential buildings – 363permits Non-residential buildings – 93 permits Civil engineering projects – 12permits Division of plots of land – 31 permits Road construction – 10 permitsDuring the first nine months of 2017, 4,281 building permits have been issuedcompared to 3,901 in the first nine months of 2016; an increase of 9.7%. Thetotal value of these permits increased by 48.6% and the total area by 40.8%.
Building permits fornew homes
The 363 residential building permits approved in Septemberprovided for the construction of 362 new homes (dwellings) comprising 193single houses and 169 multiple housing units (such as apartments, semis,townhouses and other residential complexes); an increase of 25.3% compared withSeptember 2016 when permits were issued for the construction of 289 new homes.
During the first ninemonths of 2017, the number of new homes for which building permits have beenissued rose by 35.1% to 3,413. Of those 3,413 new homes, 1,247 are beingconstructed in Limassol, 912 in Nicosia, 555 in Paphos, 491 in Larnaca and 208in Famagusta. According to the Cyprus Statistical Service, building permitsconstitute a leading indicator of future activity in the construction sector.