Cyprus building permits increase by 8.3 per cent in first four months of 2024

Building permit issuance in Cyprus saw a rise of 8.3 per cent in the period from January to April 2024, compared to the corresponding period of the previous year, according to a report released on Monday by the Cyprus Statistical Service (Cystat).

According to the report, local authorities issued 2,545 permits in the first four months of 2024, showing an increase from the 2,351 permits granted during the same period the previous year.

In terms of value, these permits reflected an 8.9 per cent increase, while the total area covered by the permits expanded by 15.7 per cent.

Moreover, there was a substantial 24.2 per cent surge in the number of residential units planned.

Focusing on April alone, the data reveals that municipal authorities and district offices issued a total of 669 building permits.

The total value of these permits reached a notable €261.3 million, encompassing an area of 192,300 square metres.

These permits are set to pave the way for the construction of 930 residential units.

Delving into the types of residential units planned, the permits included 558 multi-family residential units, 226 single-family units, 97 double-family units, and 49 mixed multi-family units.