The number of building permits issued in October 2024 totaled 470, marking a 25.6% decrease compared to the 632 permits granted in October 2023, according to the Cyprus Statistical Service.

The total value of these permits reached €177.8 million, with a combined area of 147,000 square meters. These permits are expected to result in the construction of 790 residential units.

>>Challenges in "Ippodamos" Licensing System Persist<<

Despite the decline in October, a total of 5,955 building permits were issued between January and October 2024, compared to 5,906 during the same period in 2023, reflecting a 0.8% increase.

During this period, the total value of building permits rose by 4.3%, while the total construction area expanded by 6.4%. The number of residential units also grew by 6.5%.

As of July 1, 2024, the responsibility for issuing building permits was transferred from municipalities and district administrations to the newly established Regional Local Government Organizations (EΟA). The licensing process is now conducted through the new integrated information system, "Ippodamos."