Building permits down in the first eight months of 2020

A significant decrease, was recorded in the value and area of building permits issued in Cyprus during the period January - August 2020, according to data released on Thursday by the Statistical Service of Cyprus. The main reduction was recorded in Limassol.

During the period January – August 2020, 4,416 building permits were issued compared to 4,579 in the corresponding period of the previous year. The total value of these permits decreased by 19.1% and the total area by 7.2%. Τhe number of dwelling units recorded an increase of 6.1%.

The most significant decrease was recorded in Limassol, where 1,296 building permits were issued in the first eight months of 2020, compared to 1,389 in the corresponding period of 2019. The total value of these permits decreased by 50.4% and the total area by 27%.
 
In Nicosia, in the corresponding period of 2020, a total of 1,717 building permits were issued in relation to 1,576 in the first eight months of 2019 with an increase in value by 21.5% and an increase in area by 11%.

 A total of 727 building permits were issued in Larnaca in the first eight months of 2020 in relation to 583 in the corresponding period of 2019 with a decrease in value by 4.7% and a decrease in area by 13.7%.
 
A total of 607 building permits were issued in Paphos in the same period of 2020, in relation to 697 in the first eight months of 2019, with a decrease in value by 17.8% and a decrease in area by 10.1%.

In Famagusta, a total of 213 building permits were issued in the corresponding period of 2020, compared to 190 in the first eight months of 2019, with an increase in value by 59% and an increase in area by 61%.

In August 2020, the number of building permits authorized by the municipal authorities and the district administration offices stood at 523. The total value of these permits reached €192.1 million and the total area 147.6 thousand square metres. These building permits provide for the construction of 790 dwelling units.