Although building permits issued in the first four months of 2025 recorded an annual decline of 15.2%, both the total value (15.4%) and the total area (13.3%) of these permits increased.
At the same time, according to CySTAT data, the number of residential units planned to be constructed, based on these permits, increased by 12.1%, as a total of 4,321 residential units are expected to be implemented compared to 3,854 in the corresponding period last year.
Among them, 2,789 residential apartment buildings with the category increasing by 16.7% compared to the first four months of 2024, 1,003 single-family homes (an increase 7.3%) and 320 duplexes (an increase of 14.7%).
Decline in licensing of mixed developments
On the contrary, the number of mixed-use apartment buildings planned to be constructed fell by 22.9%, reaching 162 in the first four months of 2025 compared to 210 in the corresponding period last year.
The area of building permits for residential buildings increased in the first four months of 2025 by 15.4%, while non-residential buildings recorded an increase of 6.5%.
The value of building permits for both residential buildings (up 12.9%) and non-residential buildings (up 25.1%) also increased on an annual basis, reaching €858 million and €228 million respectively.
As for April this year, the number of building permits issued amounted to 577 compared to 669 in April 2024, recording a decrease of 13.8%, while the total value of these permits reached €255.2 million and the total area reached 204,000 square meters. Through these permits, it is planned to construct 909 residential units, including 534 residential apartment buildings, 286 single-family houses, 85 duplexes and four mixed-use apartment buildings.
(Source: InBusinessNews)
