Building permits down 30.9% in September 2024

07:51 - 14 February 2025

Real Estate Reporter

The number of building permits issued in Cyprus recorded an annual decrease of 30.9% in September 2024, according to data released by CySTAT, which attributed the drop to operational challenges to do with the new 'Ippodamos' integrated information system.

According to the data, a total of 423 building permits were authorized during the month, compared to 612 in September 2023.

The total value of these permits reached €160.5 million, covering an area of 129,100 square meters. These permits are expected to facilitate the construction of 706 residential units.

The decline is largely attributed to the transfer of building permit authority from municipalities and district administration offices to the newly established District Self-Government Organisations (EOAs) as of July 1, 2024.

The transition has been accompanied by operational challenges related to the implementation of the new integrated information system, 'Ippodamos'.

Between January and September 2024, a total of 5,485 building permits were issued, marking a 4.0% increase compared to the 5,274 permits issued in the same period in 2023.

The total value of these permits increased by 8.9%, while the total area covered grew by 10.6%. The number of dwelling units increased by 10.0%.

(Source: CNA)

Building permits down 30.9% in September 2024

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