The number of building permits issued in Cyprus during November 2024 fell by 28.1 per cent compared to the same month in 2023, according to a report released on Wednesday by the state statistical service.

According to the report, a total of 487 permits were granted, down from 677 in November 2023.

The total value of these permits reached €212.5 million, while the overall area covered amounted to 178,900 square metres.

The approved permits are expected to result in the construction of 993 residential units.

Overall trend from January to November

Between January and November 2024, a total of 6,442 building permits were issued, reflecting a 2.1 per cent decrease from the 6,583 permits granted during the same period in 2023.

Despite this decline in numbers, the total value of permits rose by 2.3 per cent, and the overall area covered increased by 4.1 per cent.

Additionally, the number of residential units grew by 4.8 per cent during this period.

The service noted that a key administrative change that may have impacted these figures took effect on July 1, 2024, when the responsibility for issuing building permits shifted from municipalities and district administrations to the newly established district self-government organisations (EOA).

Permit procedures are now conducted through the new integrated information system Ippodamos.