Building permits up 28% in first two months of 2018

7

By Stelios Orphanides

Building permits rose 28 per cent year-on-year in the first two months of the year in terms of area, to 232,814 square meters, and 23 per cent in terms of value, to €247.5m, the statistical service said.

The increase was on demand for new housing units with the number of building permits rising 28 per in terms of construction area, to 207,787 square meters, in January to February compared to the respective two-month period last year, Cystat said in a statement on its website on Monday. The value of the housing projects which secured a permit from local authorities rose 35 per cent, to €213.2m.

The number of housing projects that got a building permit rose an annual 13 per cent, to 691 and include 445 detached houses, up 24 per cent, 144 semi-detached houses, up 5.9 per cent, and 282 residential blocks, up 7.6 per cent, Cystat said.

Building permits for non-housing projects fell 38 per cent in January to February, to 24,693 square meters in terms of construction area, and 11 per cent in terms of value, to €24m compared to a year before, Cystat said.

Share.

About Author

Stelios Orphanides is a journalist at CyprusBusinessMail.com. To contact Stelios Orphanides: [email protected]

  • Cydee

    Don’t know why they are allowed; thousands of half-finished, empty skeletons around. This is just eating-up more good, green landscape to fatten a developer’s wallet.

    • Adele is back x

      Everywhere I look half build don’t dismal buildings… Nothing to be proud off.

  • A is B

    In Limassol just down from the Atlantica bay hotel and before the Elias hotel on the beach side going away from Limassol town the biggest ugliest prison in Cyprus is being built, even from the motorway its a behemoth casting a shadow across the road, yes its even been built on the beach, and blocking the view and sunlight from some really nice properties. How this thing received permission to be built is beyond most peoples imagination. Bet the Mukhta is happy though……

    • Kevin Ingham

      A prosperous economy builds new hospitals and schools, not new houses for foreign buyers and new prisons

      • A is B

        Kevin I agree but you should really see this monstrosity, it really is terrible.

  • JS Gost

    So NPL’s will be increased to ? Too many bankrupt developers chasing too few foreign clients thinking that the Cypriots Passport/Residency scheme offers value for money. When will 2013 repeat itself ? must be soon.

  • atmost55

    Glad to hear that for my Cyprus.