A significant 24% decrease was recorded in the number of building permits issued in Cyprus in January 2025 compared to the same month in 2024, according to the Statistical Service of Cyprus. The data also show a decline in the total area covered by these permits, even as the overall value of the projects increased.

Specifically, a total of 446 building permits were issued in January 2025, down from the same month last year. Despite this drop, the total value of these permits rose by 4.3%, reaching €230.8 million, up from €221.2 million in January 2024.

At the same time, the total area of the licensed projects fell by 4.2%, amounting to 189,900 square meters, compared to January 2024.

The number of residential units expected to be constructed under the 446 permits stands at 838, marking a marginal 0.5% increase compared to January of the previous year.

According to the data, these 838 residential units include:

• 165 detached houses

• 120 semi-detached houses

• 529 apartment units in residential buildings

• 24 units in mixed-use apartment buildings

This apparent contradiction — a drop in the number of permits but a rise in value — may point to fewer but larger-scale or higher-cost projects gaining approval.