More building permits were issued in the first 10 months of 2021, compared to the corresponding period of 2020, with the total area increasing by 3,1%, but the total value decreasing by 8,2%, according to an announcement by the Statistical Service .
Specifically, 6.671 permits were issued by the municipal authorities and the district administrations in the period January - October 2021, compared to 5.689 in the corresponding period of 2020, recording an increase of 17,3%. The housing units that are planned to be built showed an increase of 10,9%.
However, the total value of these licenses decreased by 8,2%, to € 2,05 billion, compared to € 2,24 billion in the period January - October 2020.
According to data from the Statistical Service, an increase in the number of building permits issued during the period January - October 2021 was observed in all cities. Larnaca recorded the largest increase with 38,8%, issuing 1.066 licenses during the aforementioned period, compared to 768 in the corresponding period of 2020.
Paphos follows, with an increase of 29,4%, with 1.016 against 785 last year. Limassol had an increase of 12,3% in new building permits, issuing 1.850 permits in 2021 compared to 1648 in 2020. It is followed by Nicosia with an increase of 10,7% with 2.453 new permits, compared to 2.217 last year. Last, in absolute numbers and in percentage increase, Famagusta is ranked with an increase of only 5,6% and 286 new licenses, compared to 271 for the corresponding period last year.
In addition, 663 building permits issued in October 2021 by municipal authorities and district administrations, according to the announcement of the Statistical Service. The total value of these permits reached € 186 million and the total area 173,7 thousand square meters. These permits provide for the construction of 801 housing units.
Building permits are an important indication of future activity in the construction sector, according to a statement from the Statistical Service.