Building Permits in Cyprus Drop 14.4% in May
Despite fewer permits issued, total value and residential unit numbers show growth in early 2025.
According to the Statistical Service, the number of building permits issued in May 2025 reached 607, compared to 709 in May 2024, marking a 14.4% decrease.
The total value of these permits amounted to €315 million, with a total area of 261.6 thousand square meters. Based on these permits, 1,163 residential units are expected to be constructed.
During the period January–May 2025, a total of 2,764 building permits were issued, compared to 3,254 in the same period of the previous year, reflecting a 15.1% decrease.
However, the total value of permits increased by 15.5%, while the total area rose by 15.2%. The number of residential units also recorded a notable increase of 13.2%.