Cyprus building boom gathers pace as permits top €2.56bn

Cyprus’ construction sector continued to expand strongly in June 2026, with 751 building permits authorised during the month, an increase of 18.3 per cent compared with June last year, according to the statistical service (Cystat). The permits had a combined value of €469.5 million and covered 394,717 square metres, providing for the construction of 2,122 dwelling units. During the January to June period, the number of permits reached 4,401, compared with 3,399 a year earlier, representing an increase of 29.5 per cent. Meanwhile, their total value rose by 48.2 per cent to €2.57 billion, from €1.73bn, while the authorised floor area expanded by 47.1 per cent, from 1.43m to 2.10m square metres. The number of planned homes recorded an even stronger increase, climbing by 67.8 per cent to 11,100 units, compared with 6,616 during the corresponding period of 2025. Residential building permits accounted for the bulk of activity, reaching 3,227 during the six months, up 26.9 per cent from 2,543 a year earlier. In June alone, 543 residential permits were authorised. At the same time, non-residential building permits rose by 11.2 per cent to 406, including 76 issued in June, while civil engineering permits increased by 27.6 per cent to 250, with 37 authorised during the month. Activity involving the division of plots rose particularly sharply, with 423 permits issued during the first half, compared with 248 last year, an increase of 70.6 per cent. Of these, 80 were authorised in June. Road construction permits more than doubled, rising from 47 to 95, an increase of 102.1 per cent, with 15 permits issued during June. The authorised area of residential buildings increased by 65.8 per cent, reaching 1.90m square metres, compared with 1.15m square metres last year. Of this total, 360,978 square metres were approved in June. In contrast, the area covered by non-residential permits fell by 35.2 per cent, from 271,621 to 175,897 square metres, including 33,268 square metres during June. Civil engineering projects recorded a strong increase in authorised area, rising by 182.9 per cent to 18,363 square metres, from 6,490 square metres a year earlier. June accounted for 471 square metres. Residential developments were valued at €2.21bn during the six-month period, up 66 per cent from €1.33bn. Residential permits issued in June alone were worth €423m. By comparison, the value of non-residential projects fell by 28.9 per cent, from €318.1m to €226.3m, with June permits worth €29.8m. Civil engineering project values increased by 41.9 per cent to €92.9m, including €7.1m in June. The value of plot division projects more than doubled, rising by 102.2 per cent to €28.8m, including €5.4m in June, while road construction values increased by 148.6 per cent to €8.3m, with June accounting for €4.2m. Permits issued during the six months provided for 7,832 homes in residential apartment blocks, up 85.3 per cent from 4,227 a year earlier. In June alone, apartment blocks accounted for 1,165 of the homes approved. An additional 837 units were planned in residential and commercial apartment blocks, compared with just 164 during the same period last year, an increase of 410.4 per cent. June alone accounted for 542 such units. Meanwhile, the number of single houses increased by 4.2 per cent to 1,760, with 291 approved during June. Homes in buildings containing two housing units rose by 25.2 per cent to 671, including 124 during the month.