The Statistical Service in Cyprus says that the number of building permits authorized by the municipal authorities and the district administration offices during December 2023 stood at 587.
The total value of these permits reached €242,2 million and the total area 203,4 thousand square metres. These building permits provide for the construction of 942 dwelling units.
During the period January – December 2023, 7.170 building permits were issued compared to 7.604 in the corresponding period of the previous year, recording a decrease of 5,7%.
The total value of these permits increased by 16,4% and the total area by 4,3%. The number of dwelling units recorded an increase of 12,2%.
Building permits constitute a leading indicator of future activity in the construction sector.
