Increase in building permits
An increase in the issuing of building permits was recorded between January and May 2023
There was an increase in the licensing of new construction projects, by the competent services, during the period January-May 2023, according to data announced by the Statistical Service.
According to the data also presented in StatWatch , the number of building permits issued by municipal authorities and provincial administrations in May 2023 amounted to 647.
The total value of these licenses reached €255.3 million and the total area 202.8 thousand square meters.
With these permits it is planned to build 1,033 residential units.
During the period January – May 2023, 2,998 building permits were issued compared to 3,272 in the corresponding period of the previous year, marking a decrease of 8.4%.
However, the total value of these licenses increased by 17.0% and the total area by 3.9%.
On an annual basis, all cities record an increase in the area of licensed projects, except for Limassol and the free area of Famagusta.
The number of residential units showed an increase of 3.5%.
Building permits are an important indicator of future activity in the construction sector.
Source: stockwatch.com.cy
Photo: stockwatch.com.cy
8 August 2023
