Building permits issued in Cyprus during the period January–December 2024 decreased by 4.8%, according to data released by the Statistical Service.

Specifically, 6,827 building permits were issued, compared to 7,170 during the same period in the previous year.

Of these, 4,706 were for residential buildings, 1,066 for non-residential buildings, 390 for civil engineering projects, 496 for land divisions, and 169 for road construction. The largest annual decreases were observed in land divisions and roadworks, with drops of 13.3% and 24.6% respectively. On the other hand, the number of residential units recorded a 2.6% increase.

The total area covered by these permits increased by 1.2%, while the total value remained stable.

In December alone, the number of building permits issued fell to 385 from 587 in December 2023, marking a year-on-year decline of 34.4%.

The total value of these permits reached €181.4 million, and the total area was 144.9 thousand square metres. These permits are expected to result in the construction of 745 residential units.