According to the annual report ‘Construction and Housing Statistics, 2016’ released by the Statistical Service of Cyprus, the production value of the construction sector increased in 2016 by 22.2% to €2,146.9 million compared to €1,756.9 million in 2015. The value added at current prices recorded an increase of 23.5%.

Τhe share of new construction in residential buildings is estimated at 50.8% of the total and of non-residential buildings at 27.7%, while civil engineering projects accounted for 21.5%. The corresponding figures for 2015 were 48.9% for residential buildings, 27.3% for non-residential buildings and 23.7% for civil engineering projects.

Source: CNA