Cyprus recorded a further rise in building activity in May 2026, with the statistical service (Cystat) reporting that 735 building permits were authorised, up 21.1 per cent compared with the same month last year.

The permits had a combined value of €428.2 million and covered 352,126 square metres, providing for the construction of 1,847 dwelling units.

During the January to May 2026 period, the number of permits reached 3,650, compared with 2,764 a year earlier, representing an increase of 32.1 per cent.

Meanwhile, their total value rose by 43.9 per cent, from €1.46bn to €2.10bn, while the authorised floor area expanded by 43.1 per cent, from 1.19m to 1.70m square metres.

The number of planned homes recorded the strongest increase, climbing by 63.7 per cent to 8,978 units, compared with 5,484 during the corresponding period of 2025.

In May alone, 530 residential building permits were issued, bringing the five-month total to 2,684, up 31.3 per cent from 2,044 last year.

Non-residential building permits rose more modestly by 7.1 per cent, from 308 to 330, including 75 issued in May. At the same time, civil engineering permits increased by 26 per cent to 213, with 43 authorised during the month.

Activity involving the division of plots also rose sharply, with 343 permits issued during the five months, compared with 211 last year, an increase of 62.6 per cent. Of these, 73 were authorised in May.

Road construction permits climbed from 32 to 80, recording growth of 150 per cent, with 14 permits issued in May.

The authorised area of residential buildings increased by 62.8 per cent, reaching 1.54m square metres, compared with 947,511 square metres last year. Of this total, 309,398 square metres were approved in May.

In contrast, the area covered by non-residential permits fell by 40.2 per cent, from 238,338 to 142,629 square metres, including 42,067 square metres in May.

Civil engineering projects recorded the sharpest percentage increase, with their authorised area rising from 3,784 square metres to 17,892 square metres, an increase of 372.8 per cent. May accounted for 661 square metres.

Residential developments were valued at €1.79bn during the five-month period, up 61.6 per cent from €1.11bn. Residential permits issued in May alone were worth €360.4m.

By comparison, the value of non-residential projects fell by 28.8 per cent, from €276m to €196.5m, with May permits worth €52.4m.

Civil engineering project values increased by 39.9 per cent to €85.8m, including €9.4m in May.

The value of plot division projects rose by 99.2 per cent, from €11.7m to €23.4m, including €5.2m in May, while road construction values increased by 66.4 per cent to €4.1m, with May accounting for €743,000.

Permits issued during the five months provided for 6,667 homes in residential apartment blocks, up 90.6 per cent from 3,497. In May alone, apartment blocks accounted for 1,483 of the 1,847 homes approved.

A further 295 units were planned in residential and commercial apartment blocks, up 82.1 per cent from 162, although only four such units were approved in May.

Meanwhile, the number of single houses increased by 7.3 per cent to 1,469, with 232 approved during May. Homes in buildings containing two housing units rose by 20 per cent to 547, including 128 during the month.