The number of building permits issued by municipal authorities and district administrations in Cyprus in January 2024 experienced a slight decrease of 0.5% compared to the same month in 2023, according to the Statistical Service.

Notably, the total value of these permits fell by 8.3%, and the total area decreased by 2.4%. Additionally, there was an 11.1% reduction in the number of residential units planned.

In January 2024, the total number of issued building permits reached 587. The combined value of these permits amounted to €221.3 million, covering a total area of 198,200 square meters. These permits are expected to facilitate the construction of 834 residential units.

The Statistical Service highlighted that building permits are a key indicator of future activity in the construction sector.