Building permits issued down 28.1% in November 2024

07:51 - 03 April 2025

Real Estate Reporter

CySTAT has announced that the number of building permits issued in November 2024 dropped to 487, compared to 677 in November 2023, marking a decrease of 28.1%.

The total value of these permits amounted to €212.5 million, while the total area covered by these permits reached 178.9 thousand square meters. The permits are expected to lead to the construction of 993 residential units.

In the period from January to November 2024, a total of 6,442 building permits were issued, a decrease of 2.1% compared to the same period in 2023, when 6,583 permits were issued. Despite the drop in the number of permits, the total value of these permits increased by 2.3%, and the total area saw an increase of 4.1%. The number of residential units authorized during this period rose by 4.8%.

As of 1 July, 2024, the authority to issue building permits was transferred from municipalities and district administration offices to the newly established Local Government Organisations (LGOs). The licensing process is now conducted through the new integrated information system "Ippodamos."

(Source: CNA)

Building permits issued down 28.1% in November 2024

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