Small rise in new home starts in Cyprus. Is now a good time to buy?

Small rise in new home starts in Cyprus. Is now a good time to buy?

There was a small rise in the number of building permits authorised for building new homes in October 2020 compared to the same month in the previous year according to official statistics published on Wednesday. During October 2020 a total of 583 building permits were authorised by the municipal authorities and the district administration offices. The total value of these permits reached €279.4 million and their total area 239.3 thousand square metres. Their total area fell by 9.8%, their total value fell by 24.3%, while the number of new homes increased by 1.3%. According to the Cyprus Statistical Service, building permits constitute a leading indicator of future activity in the construction sector.

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