The report contains a wide amount of data on the construction sector.

The main developments in 2013 were:

(a) The construction sector continued for the fifth consecutive year to be in recession. The rate of growth of the sector in 2013 (in terms of value added at constant prices) is provisionally estimated to have recorded a decrease of 30,6% compared to a decline of 19,3% in 2012.

(b) The gross output of the sector at current market prices was reduced in 2013 by 23,7% to €1.796,8 million compared to €2.356,4 million in 2012. The subsector of buildings construction and civil engineering recorded a decrease of 20,6%, while the subsector of land and buildings development registered a decline of 37,3%.

(c) New residential buildings accounted for 24,7% of the total gross output of the subsector of buildings construction and civil engineering, new non-residential buildings (offices, shops, hotels, factories, etc.) for 18,8% and new civil engineering projects (roads and bridges, water supply and sewerage networks, telecommunications and electricity lines etc.) for 36,6%, while repairs, maintenance and others accounted for the remaining 19,9%.

(d) Employment in the sector was reduced from 27.843 persons in 2012 to 22.852 persons in 2013 and accounted for 6,6% of the gainfully employed population.

(e) The number of persons registered as unemployed increased from 6.177 persons in 2012 to 7.263 persons in 2013.

(f) Labour cost in construction decreased by 8,5% compared to an increase of 1,2% in 2012. The price index of construction materials recorded a decline of 0,4% compared to an increase of 0,8% in 2012.

(g) The number of new dwellings completed decreased by 41,6% to 3.833 dwelling units compared to 6.565 in the previous year. By administrative district, the number of new dwellings is distributed as follows: Nicosia 1.400, Famagusta 264, Larnaca 644, Limassol 833 and Paphos 692.

(h) The average area per dwelling completed, in 2013, was 235 square metres for houses and 144 square metres for apartments, compared to 234 and 128 respectively in 2012.

(i) The cost of construction per square metre (excluding the value of land) decreased from €988 in 2012 to €976 in 2013 for houses, while it increased from €832 in 2012 to €900 in 2013 for apartments.

(j) The dwelling stock at the end of the year amounted to 441 thousand dwelling units, of which 61,0% were in the urban areas.

An electronic version of the report can be downloaded free of charge from the web site of the Statistical Service at the address www.cystat.gov.cy, under the section Publications.

Source: Famagusta Gazette