Small rise in the property Market

There was a small rise in the number of building permits authorised for building new homes in October 2020 compared to the same month in the previous year according to official statistics published on Wednesday.

During October 2020 a total of 583 building permits were authorised by the municipal authorities and the district administration offices. The total value of these permits reached €279.4 million and their total area 239.3 thousand square metres.

The 583 permits were authorised for:

  • Residential buildings – 416
  • Community residences – 1
  • Non-residential buildings – 86
  • Civil engineering projects – 27
  • Division of plots of land – 43
  • Road construction – 10

Building permits for new homes

The 416 residential building permits authorised provided for the construction of 903 new homes. These comprised 227 single homes; a fall of 5% compared to the 327 authorised in the same period last year – and 676 multiple housing units including apartments, semis, townhouses and other residential complexes; an increase of 33.9% compared to the 505 authorised in October 2019.

Of those 903 new homes, 459 are destined for Limassol, 245 for Nicosia, 99 for Larnaca, 86 for Paphos and 14 for Famagusta.

Building Permits Issued for the Construction of New Homes
(Number of Dwellings)

Month 2019 (Dwellings) 2020 (Dwellings) Increase/Decrease %age Change
January 548 696 148 27.0%
February 576 680 104 18.1%
March 615 524 -91 -14.8%
April 742 339 -403 -54.3%
May 907 956 49 5.4%
June 812 976 470 20.2%
July 1,028 1,141 113 11.0%
August 525 790 265 50.5%
September 1,114 704 -410 -36.8%
October 744 903 159 21.4%
Totals 6,867 7,709  

Read More
CYPRUS NEWS - Top 10 property stories in 2020

Our top 10 property stories for 2020 are set against a background of the COVID-19 pandemic, which has plunged our planet into a health and humanitarian crisis, resulting in disruptions to businesses and livelihoods, and restrictions on our personal freedoms.  

Read More
How Covid 19 has effected the Property Market

“ForewordThe pandemic has caused global economic turmoil and has disrupted consumption and supply chains across the world. Cyprus is once again facing an immense challenge that is exacerbated by the global interconnectedness of its economy.  

Read More
Cyprus Central Bank: Cyprus Property Prices up in Q2 2017

Cyprus property prices recorded a quarter-on-quarter increase of 0.5 % in the second quarter of 2017 according to the Cyprus Central Bank’s latest Residential Property Price Indices.
TheCentral Bank of Cyprus reports that home prices (apartments and houses) increased 0.5 % in the 2nd quarter of 2017 compared with the first quarter in its latest Cyprus Residential Property Price Index.  

Read More
Cyprus property transactions rise 18% in July 2017

The number of properties that changed owners in July rose 18% to 739 compared to the respective month of 2016, the Department of Lands and Surveys in Nicosia said. 

Read More
Cyprus attracts rising property investor interest

Cyprus is seeing rising interest from international real estate investors, according to 

Read More
Relocating to Cyprus
Relocating to Cyprus
24 Feb 2017 0 Comments Hartmut Clasen WSI

There are many very good reasons to relocate to Cyprus, sometimes it is your choice, maybe for retirement, sometimes a job opportunity comes up. Finding the right place to live is essential for the well-being of your family. 

Read More
Marginal rise in Cyprus property prices

Cyprus property prices rose marginally during 3Q 2016 for the first time since 2009 according to the Residential Property Price Index published by the Central Bank of Cyprus in Nicosia. 

Read More
The economy of Cyprus

The economy of Cyprus is classified by the World Bank as a high income economy and was included by the International Monetary Fund in its list of advanced economies in 2001. Erratic growth rates in the 1990s reflected the economy's vulnerability to swings in tourist arrivals, caused by political instability on the island and fluctuations in economic conditions in Western Europe.  

Read More
Cyprus Immovable Property Tax partly unpaid

Twenty five owners of properties valued in excess of €3 million at 1980 prices failed to pay their Immovable Property Tax by 27th December according to information from the Tax Department. 

Read More

Find Property


By Reference

Recent Property