The total number of building permits issued in Cyprus inDecember 2018 was 479 compared with 437 approved in December 2017 (an increaseof 9.6%). In accordance with official data published by the Statistical Serviceof Cyprus, it is planned to build 504 new houses, including 215 separate housesand 289 apartment buildings.
Compared to December 2017, the total cost of all buildingpermits increased by 4.9% to 158.8 million euros, but their total areadecreased by 25.5% to 139.9 thousand square meters.
During December 2018, permits were issued:
Residential buildings - 346
Uninhabited buildings - 63
Civil engineering projects - 27
Land Plot - 34
Road construction – 8
Of the 504 new homes, 181 are for Nicosia, 167 for Limassol,75 for Paphos, 44 for Famagusta and 37 for Larnaca.
In the period from January to December 2018, 6,408 permitswere issued, compared with 4,053 in the corresponding period in 2017; anincrease of 9.9%, while their total cost and area increased by 8.5% and 18.0%,respectively. 6,408 permits issued in 2018 included the construction of 2,122new houses in Nicosia, 2,032 in Limassol, 964 in Larnaca, 646 in Paphos and 437in Famagusta.
According to the statistical service of Cyprus, buildingpermits are a major indicator of future activities in the construction sector.