An increase in construction activity, mainly in the free area of Famagusta, is expected in the coming period, as can be seen from the new data announced today by the Statistical Service regarding the licensing of new projects throughout Cyprus.
According to Cystat data, the area of licensed projects showed an increase of 35,5% during the period January – October 2017, rising to 1,1 million square meters from 833,4 thousand square meters. the corresponding period of 2016.
An increase was recorded in all provinces, with the largest being noted in the free Famagusta, reaching 60,2%. The area of the licensed projects for the area amounts to 73,5 thousand square meters from 46 thousand square meters. the tenth month of 2016. The projects for the Ayia Napa marina contribute to the increase.
In Nicosia the increase amounts to 39,6%, in Limassol to 37,2%, in Paphos to 26% and in Larnaca to 24,6%.
The number of building permits issued by municipal and provincial authorities in the first ten months of the year amounted to 4.817 compared to 4.350 in the first ten months of 2016.
The total value of these licenses reached €1259,7 million from €914,4 million last year, marking an increase of 37,8%.
With these permits, it is planned to erect 3.956 residential units compared to 2.911 in the first ten months of 2016.