Cyprus construction permits face challenges, but growth continues

Building permits in Cyprus took a big hit in September 2024, dropping by 30.9% compared to the same time last year. The slowdown is largely due to delays caused by the new “Ippodamos” information system and a shift in permit approval responsibilities to newly formed Local Government Organizations (LGOs).

In numbers, only 423 permits were issued in September, down from 612 in 2023, affecting projects worth €160.5 million. While this short-term dip is significant, the overall construction sector is still growing. Between January and September 2024, total permits issued increased by 4% compared to 2023, with an 8.9% rise in total value and a 10% jump in new housing units.

The industry is keeping an eye on how quickly the system can stabilize. If “Ippodamos” delivers on its promise of efficiency and transparency, these early hurdles might just be growing pains before a smoother, more modernized process takes over.