articles | 09 March 2018

Building permits up 47% in 2017

Construction output is expected to pick up further as building permits for 2017 show a 47% increase in the construction area of projects that received the go-ahead from local authorities, to 1,542,663 square metres, compared to 2016, the statistical service said.

The value of the projects which received a building permit last year rose 49%, to €1.7bn, Cystat said in a statement on its website on Friday.

The increase in building permits last year was mainly on an 81% rise in the construction area of non-housing projects, to 372,806 square metres, accompanied by a 59% increase in the value, to €380.7m, Cystat said. The number of hotels that got a building permit rose to 24 from 19 whilethat of tourist apartments and villages fell from 35 to 26.

The construction area of housing projects that obtained a building permit last year rose 36%, to 1,133,854, while their value rose 40%, to €1.2bn, Cystat said.

The building permits provide for the construction of 2,302 detached houses, which is 35% more compared to 2016. The number of semi-detached houses rose 21%, to 781 while that of flats in residential blocks almost doubled, to 1,374.

Source: Cyprus Mail

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