These permits, valued at €781.6 million, cover a total area of 594.9 thousand square meters and support the development of 2,772 residential units. The marked increase in issued permits is attributed to accelerated processing efforts by local authorities, addressing a backlog of applications. This comes as the authority over these approvals is set to transition to new district-level ΕΟΑ (Local Government Organizations) beginning July 1, 2024.
Building Permits on the Rise
Between January and June 2024, a total of 4,782 building permits were issued in Cyprus, a 32% rise compared to the 3,608 permits in the same period the previous year. The combined value of these permits saw a 44.4% jump, the floor area expanded by 46.5%, and the number of residential units approved also grew by 44.4%.
City-by-City Growth
From January to June 2024, all major cities across Cyprus recorded significant growth in construction areas: Nicosia experienced a 14.3% increase, Famagusta’s free areas surged by 324%, Limassol grew by 32.7%, Larnaca saw a remarkable 107.5% rise, and Paphos recorded a 65.9% increase.