Cyprus permits for 11,100 new homes in six months, 68% more than a year earlier

Where the growth comes from

• Residential apartment blocks: 7,832 planned flats, up from 4,227 (+85.3%).
• Mixed residential and commercial blocks: 837, up from 164.
• Buildings with two homes: 671 (+25.2%).
• Single houses: 1,760 (+4.2%).

In June alone, 751 permits were issued (+18.3% on a year earlier), covering 2,122 dwellings. The area of permitted non-residential buildings in the first half fell 35.2%.

What to keep in mind

CYSTAT notes that since July 2024 permits are issued by the new local government organisations through the Ippodamos system, which has also processed a large volume of older applications. Part of the jump may reflect this backlog rather than new demand alone.

A permit is a plan, not a finished flat: homes approved now will reach the market over the next few years. Earlier signals on permits, costs and mortgages are in our previous analysis.