Building Permits Rise Over Eight Months Despite August Decline

  • 2 недели назад
  • News
  • 1

Between January and August 2024, Cyprus saw an 8.6% annual increase in building permits, though a sharp drop of 59.3% was recorded in August compared to the same month in 2023. The decline was largely attributed to technical difficulties with the “Ippodamos” information system, according to the Statistical Service of Cyprus.

In August 2024, only 183 permits were authorized, a significant decrease from 450 permits issued in August 2023. The total value of these permits amounted to €87.4 million, covering a total area of 66,200 square meters. These permits were designated for the construction of 323 housing units.

Over the January–August period, 5,062 building permits were issued, marking an 8.6% increase compared to the 4,662 permits authorized during the same timeframe in 2023. The total value of these permits rose by 16.3%, with the total area increasing by 18.0%. The number of housing units authorized also grew by 16.2%.

The Statistical Service highlighted that the sharp decline in August stemmed from administrative changes. As of July 1, 2024, the responsibility for issuing building permits shifted from municipalities and district administration offices to newly established Local Government Organizations (LGOs). The implementation of the “Ippodamos” integrated information system by the LGOs faced operational issues, contributing to the temporary slowdown.

Source: Stockwatch Cyprus

Compare listings

сравнить
error: Content is protected !!