Building permits in Cyprus down 25% since 2012

The number of building permits in 2013 recorded a significant drop by 25% compared to 2012, according to recent data released by the Statistical Services.

During the period January–December 2013, 5.341 building permits were issued, registering a decrease of 25.5% compared to the corresponding period of the previous year. The total value of these permits decreased by 30.1% and the total area by 30.3%. Τhe number of dwelling units recorded a decrease of 29.6%.

Meanwhile, the Statistical Service announced that the number of building permits authorized by the municipal authorities and the district administration offices during December 2013 stood at 394. The total value of these permits reached €69,4 million and the total area 67,2 thousand square metres. These building permits provide for the construction of 267 dwelling units.

Source: Famagusta Gazette

Cyprus Profile

articles | 20 February 2014