According toofficial figures, the number of building permits approved in December 2019allowed us to build twice as many new houses as allowed in December 2018.
In December2018, the construction of 1,107 new homes was allowed, compared to 504 approvedin December 2018, according to official statistics from the Cyprus StatisticalOffice; an increase of 119.6%. Strong growth in the island's constructionsector continued in December 2019, when 647 building permits were issued,compared with 479 in December 2018.
The totalcost of these permits increased by 171.7% and reached 431.2 million Euros, andtheir total area increased by 108.9% and amounted to 292.3 thousand squaremeters. m. compared to December 2018. The permits provided for the constructionof 1 107 new houses, which is 119.6% more than% compared to 504 in December2018.
DuringDecember 2019, 647 building permits were issued:
-residential buildings - 470
-Non-residential buildings - 90
- CivilEngineering Projects - 32
- Section ofland - 37
- Roadconstruction - 18
470 buildingpermits are provided for the construction of 1,110 new homes. They included 356individual houses, (an increase of 65.6% compared to 215 in December 2018) and751 multi-apartment complexes, including apartments, town houses and otherresidential complexes; a huge increase of 159.9% compared with 289 authorizedin December 2018.
Annualconstruction indicators
During 2019,a total of 7,218 building permits were issued, compared to 6,408 in 2018. Theirtotal value increased by 81.4%, and the total area - by 49.8%. The number ofbuilding permits allowed for new homes increased by 55.2%. The permission forthe construction of 5,197 residential buildings, approved in 2019, provides forthe construction of 9,627 new houses; 4,108 in Limassol, 2,875 in Nicosia,1,158 in Larnaca, 1,084 in Paphos and 402 in Famagusta.
According tothe Cyprus Statistical Service, building permits are a key indicator of futureactivities in the construction sector.