The number of new houses in Cyprus for which buildingpermits were issued grew by 13.2% in February 2019 compared with February 2018,according to the statistical service of Cyprus.
The total number of building permits authorized in Cyprus inFebruary 2019 was 525, compared with 481 in February 2018; an increase of 9.1%,according to official figures published by the Statistical Service of Cyprus,which provided for the construction of 576 new homes. Compared with February2018, the total value of these permits increased by 64.7% to 168.4 millionEuros, and their total area increased by 67.0% to 177.9 thousand square meters.
In February 2019, building permits were issued:
Residential buildings - 397 permits;
Uninhabited buildings - 75 permits;
Civil engineering projects - 12 permits;
Land division - 35 permits;
Road construction - 6 permits.
Approved in February 2019, 397 residential constructionpermits allowed for the construction of 576 new houses: 296 individual houses(compared to 256 in February 2018) and 101 multi-family housing, includingapartments, townhouses and other residential complexes (compared to 78 inFebruary 2018) Of these 576 new homes, 236 are for Limassol, 176 for Nicosia,100 for Larnaca, 56 for Paphos and 8 for Famagusta.
During the first two months of 2019, 1069 permits wereissued, compared to 984 in the corresponding period in 2018; an increase of8.6%, while their total cost and area increased by 15.6% and 22.4%,respectively. 6,408 permits issued in 2018 included the construction of 2,122new homes in Nicosia, 2,032 in Limassol, 964 in Larnaca, 646 in Paphos and 437in Famagusta. According to the statistical service of Cyprus, building permitsare a major indicator of future activities in the construction sector.