Cyprus sees drop in building permits despite higher project values
Building permits in Cyprus fell 14.4 per cent in May 2025, according to the Cyprus Statistical Service (Cystat), highlighting a slowdown in construction activity despite rising values and dwelling units.
The number of building permits authorised in May 2025 stood at 607 compared to 709 in May 2024, marking a decrease of 14.4 per cent.
The total value of the permits reached €315 million and the total area covered 261,600 square metres.
These permits provide for the construction of 1,163 dwelling units.
For the period January to May 2025, 2,764 building permits were issued, compared with 3,254 in the same period of 2024, recording a decrease of 15.1 per cent.
Despite the fall in the number of permits, the total value of permits issued increased by 15.5 per cent over the same period.
The total area covered by the permits also rose by 15.2 per cent.
The number of dwelling units in these permits increased by 13.2 per cent, indicating a shift towards larger or more valuable projects.
Cystat mentioned that since July 1, 2024, the authority to issue building permits has been transferred from municipalities and district administration offices to the newly established local government organisations (EOAs).
The licensing process is now conducted through the integrated information system called Ippodamos.
Moreover, the data covers all building permits authorised, including those for demolitions and re-issued permits.
Permit renewals and permits for the division of buildings are not included in the figures, the statistical service added.