CYPRUS: House building permits on the rise in 2018

The building industry continued to thrive in 2018 as building permits issued during the first 10 months to October increased by 38.1% compared to the corresponding period of the previous year.

 According to data released by the Cyprus Statistical Service 5,332 building permits were issued in the period January-October 2018, by local authorities, compared to 4,817 for the same period in 2017.

Cystat data recorded an increase in housing projects by 29.3% during the same period.

Meanwhile, the number of building permits issued by the authorities for October alone stood at 630, compared to 588 in September 2018.

The total value of these permits reached €188 million and the total area 160.5 thousand square metres.