articles | 08 July 2021

Building permits up 46.7%, Famagusta bucks trend

Building permits issued in Cyprus jumped 46,7% annually in the four months from January – April, reflecting increased economic activity in the construction sector as Covid containment measures were eased.

While most districts saw a resurgence in building activity, Famagusta witnessed a decline.

According to the Cyprus Statistical Service (Cystat), building permits authorized by local authorities in January – April reached 2,524 from 1,721 in the same period last year, which included a two-month COVID lockdown.

The total value of permits issued increased by 3.2% to €760 million, while the total area covered was up 36.0%.

The number of dwelling units also recorded a 49.8% hike compared with the same four months in 2020.

Building permits issued in April rose by 221%, amounting to 627 from 195 in April 2020; compared with March 2021, they declined by 16%.

The total value of permits issued in April was €230.6 million with an area of 192,900 square meters.

These building permits provide for the construction of 955 homes.

In the Nicosia district, the total value of issued building permits in January – April rose by 26.6%, and the total area covered was up 38% on last year.

Building permits rose by 47.8%, and dwellings recorded an increase of 32.4%.

Larnaca’s total value of building permits rose by 40.6%, and the total area increased by 29.6% year on year.

Dwelling units spiked by 102%, while building permits rose by 76.9%.

According to Cystat, Limassol saw an annual increase of 39.5% in the value of building permits and 35.1% more area.

The number of homes rose 54%, and building permits improved 48.2%.

In the Paphos district, the total value of the building permits issued in January – April rose by 66.4% year on year and total area by 75.5%.

Dwellings were up 24.6%, while building permits increased by 78.1%.

Building activity in the Famagusta district decelerated, with the total value of building permits declined 18.8% year on year and total area dipped 14.6%.

In addition, the number of dwelling units declined by 30.7%, while building permits dropped by 7.3%.

Source: Financial Mirror

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