Building permits issued in Cyprus from January to November declined by an annual 5.4%, but the total value rose 1.2%, reflecting increasing construction costs amid soaring inflation and supply chain disruptions. According to
Building activity declined slightly, slowed by rising costs in the first six months of 2022 compared to the same period last year, official data shows. The construction sector’s activity fell slightly in
People wanting to buy a house in Cyprus are constricted by an upward trend in construction costs and materials, with the latest figures showing a 20% jump. According to Cystat, the average
The cost of building materials in Cyprus continues to rise, while the Central Bank warned the war in Ukraine will only make things worse for the construction industry. According to the Cyprus
Real estate stakeholders are cautious over the immediate prospects of the construction sector and warn against being duped by a rosy picture drawn by an upward trend in building permits. According to
Real estate and property development contribute to creating job opportunities and the growth of the Cyprus economy. Development is controlled by the existing town planning zones, which set certain factors, such as
Cyprus real estate sector in 2021 gained lost ground from the pandemic as building permits picked up the pace but are still well off the levels recorded in pre- coronavirus 2019. According
When a nearly dilapidated house in Aradippou collapsed earlier this week, initial reports suggested it was a minor incident and that there were no injuries. The mayor even told CyBC radio that
Cyprus real estate and construction sectors are stressed from skyrocketing prices of building materials, making it harder to recover from the pandemic and scrapping of the ‘golden passports’ scheme. According to the
We heard the Limassol Mayor announcing the municipality’s initiative to construct over 600 housing units to alleviate the shortage of housing units, thus helping reduce the sales prices/rental levels. He stated the
