Reinforcement of the construction activity is expected in the next period, as it appears from the new data announced today by the Statistical Service regarding the licensing of new projects all over Cyprus.
According to Cystat data, the area of licensed projects increased by 41,6% during the period January - July 2017, rising to 773,3 thousand square meters from 546,2 thousand sq.m. the corresponding period of 2016.
An increase was recorded in all the provinces, with the largest being recorded in free Famagusta reaching 83,4%, followed by Limassol with an increase of 47,7%.
In Paphos the increase was 41%, in Nicosia 38,3% and in Larnaca 22,5%.
The number of building permits issued by municipal authorities and provincial administrations in the first seven months of the year was 3.362, up from 3.053 last year.
The total value of these licenses reached €857,6 million from €574,8 million last year, marking an increase of 49,2%.
With these permits, it is planned to build 2.807 housing units compared to 2.009 in the first seven months of 2016, ie 39,7% more.
Source: StockWatch / Georgia Hanni