Cyprus building permits near €3bn in value as apartment plans surge

Cyprus recorded a 3 per cent decline in building permits in July 2026, although construction activity remained considerably stronger over the first seven months of the year, with the value of authorised projects approaching €3 billion, according to figures released by the statistical service (Cystat) on Tuesday. A total of 772 building permits were authorised during July, compared with 796 in the corresponding month of 2025. The permits had a combined value of €418 million and covered 349,621 square metres, providing for the construction of 1,944 dwelling units. Despite the monthly decline, the January to July figures showed continued growth, with the number of permits reaching 5,173, compared with 4,195 during the same period last year, representing an increase of 23.3 per cent. Meanwhile, their total value rose by 36.5 per cent to €2.99bn, from €2.19bn, while the authorised floor area expanded by 37.1 per cent, from 1.79 million to 2.45 million square metres. The number of planned homes recorded an even stronger increase, climbing by 60.5 per cent to 13,044 units, compared with 8,128 during the corresponding period of 2025. Residential building permits accounted for the bulk of activity, reaching 3,786 during the seven months, up 19.5 per cent from 3,169 a year earlier. In July alone, 559 residential permits were authorised. At the same time, non-residential building permits increased by 5.2 per cent to 469, compared with 446 last year, including 63 issued in July. Civil engineering permits rose by 27.3 per cent to 294, from 231, with 44 authorised during the month. Activity involving the division of plots recorded particularly strong growth, with 515 permits issued during the January to July period, compared with 293 a year earlier, an increase of 75.8 per cent. Of these, 92 were authorised in July. Road construction permits almost doubled, rising from 56 to 109, an increase of 94.6 per cent, with 14 permits issued during July. The authorised area of residential buildings increased by 56.6 per cent, reaching 2.21 million square metres, compared with 1.41 million square metres last year. Of this total, 306,191 square metres were approved in July. In contrast, the area covered by non-residential permits fell by 40.3 per cent, from 366,152 to 218,663 square metres, including 42,766 square metres during July. Civil engineering projects recorded a sharp increase in authorised area, rising by 124.3 per cent to 19,027 square metres, from 8,482 square metres a year earlier. July accounted for 664 square metres. Residential developments were valued at €2.56bn during the seven-month period, up 56.9 per cent from €1.63bn. Residential permits issued in July alone were worth €350.3m. By comparison, the value of non-residential projects declined by 39.1 per cent, from €453.4m to €276.1m, with July permits worth €49.8m. Civil engineering project values increased by 22.5 per cent to €99.6m, compared with €81.4m last year, including €6.8m in July. The value of plot division projects more than doubled, rising by 136 per cent to €39.2m, from €16.6m, with July accounting for €10.4m. Similarly, road construction values increased by 134.3 per cent to €9m, compared with €3.9m during the corresponding period of 2025. Permits issued in July were valued at €714,000. The strongest growth in planned housing came from apartment developments, which continued to account for the largest share of new residential units. Permits issued during the seven months provided for 9,298 homes in residential apartment blocks, up 75.9 per cent from 5,285 a year earlier. In July alone, apartment blocks accounted for 1,466 of the homes approved. An additional 902 units were planned in residential and commercial apartment blocks, compared with just 180 during the same period last year, representing an increase of 401.1 per cent. July accounted for 65 such units. Meanwhile, the number of single houses increased by just 1 per cent to 2,039, compared with 2,018 last year, with 279 approved during July. Homes in buildings containing two housing units rose by 24.8 per cent to 805, from 645, including 134 during the month. The figures therefore showed a clear difference between housing categories, with apartment developments accounting for most of the increase in planned homes, while growth in single houses remained limited. Cystat explained that the figures cover building permits issued for residential and non-residential developments, civil engineering projects, plot divisions and road construction, including permits for demolitions and those being reissued. The statistical service also noted that responsibility for issuing building permits was transferred to the local government organisations in July 2024, alongside the introduction of the Ippodamos electronic system, through which applications are now processed, including older submissions originally made on paper.