Cyprus Building Permits Plunge in June, But Values Hold Up Better

Sharpest drop in a year as new local-government licensing beds in; 1,132 homes cleared in June

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POLITIS NEWS

Cyprus issued 635 building permits in June 2025, down from 1,528 a year earlier, a 58.4% collapse, according to the Statistical Service. Despite the steep fall in approvals, projects cleared in June still carried a combined €275.1 million in value over 236.7k m² of floor area, providing for 1,132 dwelling units.

From January-June 2025, authorities approved 3,399 permits, versus 4,782 in the same period of 2024, a 28.9% decline. Over the same stretch, the total value of permits fell by 15.2%, total area by 12.4%, and dwelling units by 13.1%.

What’s changing in the system

Since 1 July 2024, the power to issue permits moved from municipalities and district administrations to the newly created Local Government Organisations (LGOs). Licensing is now processed through the “Ippodamos” integrated information system. June’s numbers land nearly a year into that reform, a period many developers say has involved adaptation and teething issues, even as larger projects continue to move through the pipeline.

Permits are a lead indicator for construction activity, investment and jobs. The sharp drop in counts alongside a smaller decline in values suggests fewer, larger-ticket projects making it through, and a market still adjusting to the new, centralised e-permitting regime.

 

CNA

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