Building permits down by 25.6% on annual basis in October 2024

The number of building permits issued during October 2024 stood at 470 compared to 632 in October 2023, registering a decrease of 25.6%.

According to CySTAT, the total value of these permits reached €177.8 million and the total area 147.0 thousand square metres.

These building permits provide for the construction of 790 housing units.

During the period January – October 2024, 5,955 building permits were issued compared to 5,906 in the corresponding period of the previous year, recording an increase of 0.8%.

The total value of these permits increased by 4.3% and the total area by 6.4%. The number of housing units recorded an increase of 6.5%.

It is noted that as from the 1st July 2024, the authority of issuing building permits was transferred from the municipalities and the district administration offices to the newly founded Local Government Organisations (LGOs) and the licensing process is performed through the new integrated information system 'Ippodamos'.

(Source: CNA)

Read More

Two more days to go until the Cyprus Architecture, Interior Design and Property Awards 2024!
The Cambridge AI Program 2025: A Revolutionary Collaboration in AI and Business
Eurostat: Cypriots have among fewest online shopping problems in the EU
RSM launches the RSM European Real Estate Tax Guides 2025 edition
CySEC sets out activities for Global Money Week 2025
Central Bank Governor calls for united effort against financial illiteracy
Trump threatens tariffs on European wine and spirits in escalating trade war
Cyprus Architecture, Interior Design and Property Awards 2024 in the final stretch
Greek, Cypriot and Israeli FMs express strong will for revival of 3+1 format with US
Financial literacy is a major priority, President says