New home building permits

New home building permits up 93 per centbuilding permits

The number of new homes in Cyprus for which building permits have been issued rose by 93.0 per cent in November 2017 compared to November 2016 according to the Cyprus Statistical Service.

THE NUMBER of building permits authorized in Cyprus during November 2017 stood at 474 compared with the 550 authorized during the same month in 2016; a fall of 13.8% according to official figures released by the Cyprus Statistical Service. However, the total value of these permits rose by 172.0% to reach €308.7 million compared to November 2016, while their total area rose by 124.9% to reach 225.7 thousand square meters.
During November 2017, building permits were issued for: Residential buildings – 329 permits Community residencies – 2 permits Non-residential buildings – 91 permits Civil engineering projects – 12 permits Division of plots of land – 33 permits Road construction – 7 permits During the first eleven months of 2017, 5,291 permits were issued compared to 4,900 in the first eleven months of 2016; an increase of 8.0%. The total value of these permits has increased by 52.6% and the total area by 45.1%. Building permits for new homes The 329 residential building permits approved in November 2017 provided for the construction of 658 new homes (dwellings). These comprised 184 single houses (compared with 258 in November 2016) and 474 multiple housing units such as apartments, semis, townhouses and other residential complexes (compared with 83 in November 2016); an overall increase of 93.0% compared with November 2016 when permits were issued for the construction of 341 new homes.

Building Permits Issued for the Construction of New Homes (Number of Dwellings)

Month 2016 (Dwelling Units) 2017 (Dwelling Units) Movement % Change
 January 243 381 138 56.80%
February 312 383 71 22.80%
March 306 412 106 34.60%
 April 201 289 88 43.80%
 May 278 424 146 52.50%
June 287 381 94 32.80%
July 382 537 155 40.60%
August 229 244 15 6.60%
September 289 362 73 25.30%
October 384 543 159 41.40%
November 341 658 317 93.00%
 
 Totals 3,252 4,614 1,362 41.90%
BUILDING PERMITS
Comparison of the most recent period of 2017 with the corresponding period of 2016  
DISTRICT NOVEMBER 2017 JANUARY – NOVEMBER 2017 JANUARY – NOVEMBER 2016
Number Area
(m2)
Units Number Area
(m2)
Units Number Area
(m2)
Units
                   
LEFKOSIA 188 66,433 121 1,892 405,660 1,270 1,912 271,188 860
   Urban 109 45,654 76 1,132 265,032 912 1,113 173,724 530
   Rural 79 20,779 45 760 140,628 358 799 97,464 330
AMMOCHOSTOS 16 16,251 3 231 89,797 266 250 53,227 199
   Rural 16 16,251 3 231 89,797 266 250 53,227 199
LARNAKA 62 12,767 63 814 180,272 601 715 152,266 566
   Urban 32 9,515 54 429 110,262 393 338 91,712 368
   Rural 30 3,252 9 385 70,010 208 377 60,554 198
LEMESOS 161 113,005 383 1,601 505,185 1,766 1,317 316,642 1,170
   Urban 87 96,145 326 845 304,569 1,210 687 216,286 765
   Rural 74 16,860 57 756 200,616 556 630 100,356 405
PAFOS 47 17,246 88 753 173,872 711 706 140,448 457
   Urban 26 14,808 73 346 85,902 421 336 91,187 285
   Rural 21 2,438 15 407 87,970 290 370 49,261 172
TOTAL 474 225,702 658 5,291 1,354,786 4,614 4,900 933,771 3,252
   Urban 254 166,122 529 2,752 765,765 2,936 2,474 572,909 1,948
   Rural 220 59,580 129 2,539 589,021 1,678 2,426 360,862 1,304

 

During the first eleven months of 2017, the number of new homes for which permits have been issued rose by 41.9% to reach 4,614. Of those 4,614 new homes, 1,766 are being built in Limassol, 1,270 in Nicosia, 711 in Paphos, 601 in Larnaca and 266 in Famagusta. According to the Cyprus Statistical Service, building permits constitute a leading indicator of future activity in the construction sector.