Building permits up 8.3% from January to April 2024, year on year

07:48 - 09 July 2024

Real Estate Reporter

During the period January – April 2024, building permits recorded an increase of 8.3%, compared to the same period of 2023, according to data released by CySTAT.

In this period, 2,545 building permits were issued compared to 2,351 in the corresponding period of the previous year. The total value of these permits increased by 8.9% and the total area by 15.7%.

The number of dwelling units recorded an increase of 24.2%.

According to CySTAT, the number of building permits authorized by the municipal authorities and the district administration offices during April 2024 stood at 669.

The total value of these permits reached €261.3 million and the total area 192.3 thousand square metres. These building permits provide for the construction of 930 dwelling units.

Building permits constitute a leading indicator of future activity in the construction sector.

(Source: CNA)

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