In the period from January to August 2020, a significant decrease compared to last year has affected the cost and area of facilities, permits for construction of which were issued in Cyprus. Statistics Service of Cyprus notes that the largest losses of new construction was incurred in Limassol.

A total of 4,416 permits were issued in the country during the eight months of this year (4,579 a year earlier). The total cost of the objects proposed for construction has lost 19.1%, and their total area has decreased by 7.2%. At the same time the number of housing units showed a 6.1% growth.

The most significant decrease was recorded in Limassol where 1,296 licenses were issued during the reporting period (last year – 1,389). Their cost decreased by 50.4%, and the total area of objects – by 27%.
A total of 727 licenses were issued in Larnaca (583 in the previous year), with a 4.7% cost reduction and a 13.7% reduction in the area.
Paphos issued 607 licenses from January to August (compared to 697 in the first eight months of 2019), -17.8% to the cost and -10.1% to the area.

Positive dynamics was noted in Nicosia (1717 licenses against 1576, +21.5% to cost and +11% to area) and Famagusta (213 licenses against 190, with an increase in cost by 59% and area by 61%).