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 37,2% during the period January - September 2017, rising to 963,7 thousand square meters from 702,2 thousand square meters. the corresponding period of 2016.
An increase was recorded in all the provinces, with the largest being recorded in free Famagusta reaching 59,3%, followed by Limassol with an increase of 57,3%.
In Nicosia the increase amounts to 32,8%, in Paphos to 26,1% and in Larnaca to 14,9%.
The number of building permits issued by municipal authorities and district administrations in the first nine months of the year rose to 4.281 compared to 3.901 last year.
The total value of these licenses reached €1064,8 million from €735,3 million last year, marking an increase of 44,8%.
With these permits, 3.413 housing units are planned to be built, compared to 2.527 in the first nine months of 2016.
Source: StockWatch