Building permits in Cyprus saw a significant drop in August 2024, with only 183 permits granted, compared to 450 in the same month in 2023, according to data from the Cyprus Statistical Service (Cystat).

The decrease comes following the transfer of responsibility for issuing building permits from municipalities and provincial administrations to the newly establishedself-governance districit organisations (Eoa) as of July 1, 2024.

The total value of permits issued in August 2024 was €87.4 million, covering 66,200 square metres and allowing for the construction of just 323 residential units.

The service mentioned that the sharp drop in permits for the month of August is “largely attributed to the authorities’ effort to process a high volume of applications ahead of the transfer of authority.”

The statement continued that “this pattern was also observed in July 2024, when building permit issuance was similarly affected by the transition.”

For the period from January to August 2024, a total of 5,062 building permits were issued, reflecting an 8.6 per cent increase compared to the 4,662 permits granted during the same period in 2023.

The total value of these permits rose by 16.3 per cent, while the total area expanded by 18 per cent.

The number of residential units is also up by 16.2 per cent.

In terms of districts, Famagusta saw the largest increase in licensed project area, up by 204 per cent, followed by Larnaca with a 59.1 per cent rise.

Paphos recorded a 36.1 per cent increase, while Limassol’s area growth stood at 6.6 per cent. Nicosia, however, experienced a decrease of 5.8 per cent.