Today: December 16 2018
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Cyprus is actively developing

Cyprus is actively developing

Tags: Cyprus, Real Estate, Construction, Economy, Statistics

Cranes for the construction of skyscrapers have already become a familiar part of the panoramic view of Limassol. The echo carries the sounds of jackhammers along the streets, even on Saturdays and Sundays. Cyprus is actively built up. An indication of how the island of Aphrodite will be tomorrow is the data on the issuance of building permits. As a result of 2017, we are talking about new facilities worth 1,7 billion.

The price of the issue is 1,7 billion euros

According to CyStat, in 2017, the authorities of the Republic of Cyprus issued 5728 permits for the construction of real estate facilities, the aggregate value of which will amount to 1,7 billion euros. This is 54,5% more than in 2016. Limassol ranks first in the value of the objects to which permits are issued (608,9 million euros). On the second - Nicosia with 541,9 million euros. Closes the top three leaders of Larnaca with 217 million euros.

Objects and leaders

Almost in one and a half time (up to 1 542 663 sq. Meters) the area of ​​real estate objects has grown. More than half (992,5 million euros) belong to large (high-rise buildings, residential complexes, office buildings, etc.). The champion of 2017 in terms of the number of permits (2047) for construction was Nicosia. In second place - Limassol (1730), on the third - Larnaka (894). They are followed by Paphos (816) and the free territories of Famagusta (241).

The lion's share - housing

Estimated cost

  • Single-family houses - 609 million euros
  • residential buildings with a number of commercial premises (offices, shops, etc.) - 228,7 million euros
  • residential multi-apartment buildings - 206,3 million euros
  • houses and maisonettes - 124 million euros

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