According to data released by the Statistical Service of Cyprus on Thursday, during the period January – December 2019, 7,218 building permits were issued compared to 6,408 in the corresponding period of the previous year. The number of dwelling units recorded an increase of 55.2%.

The largest increases in value and area of building permits were recorded in Limassol with a total value of €2.1 billion and a total area of 12,146.13 square meters. The increase in total value reached 224% in 2019 compared to 2018 and the increase in total area to 124%. In Limassol the number of licenses issued in 2019 was 2,186.

The number of licenses issued in Nicosia in 2019 was 2,534, however the total value reached €670 million and the total area of 624,687 square meters. Larnaca followed with 1,134 licenses, Pafos with 1,052 and Famagusta with 312 licenses.

The number of building permits authorized by the municipal authorities and the district administration offices during December 2019 stood at 647. The total value of these permits reached €431.4 million and the total area 292.3 thousand square metres. These building permits provide for the construction of 1,107 dwelling units.

Source: In-Cyprus