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Business Cyprus

Building permits up 28% in first two months of 2018

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Building permits rose 28 per cent year-on-year in the first two months of the year in terms of area, to 232,814 square meters, and 23 per cent in terms of value, to €247.5m, the statistical service said.

The increase was on demand for new housing units with the number of building permits rising 28 per in terms of construction area, to 207,787 square meters, in January to February compared to the respective two-month period last year, Cystat said in a statement on its website on Monday. The value of the housing projects which secured a permit from local authorities rose 35 per cent, to €213.2m.

The number of housing projects that got a building permit rose an annual 13 per cent, to 691 and include 445 detached houses, up 24 per cent, 144 semi-detached houses, up 5.9 per cent, and 282 residential blocks, up 7.6 per cent, Cystat said.

Building permits for non-housing projects fell 38 per cent in January to February, to 24,693 square meters in terms of construction area, and 11 per cent in terms of value, to €24m compared to a year before, Cystat said.



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