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

07:46 - 12 March 2025

Real Estate Reporter

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)

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