Cyprus New Builds: Almost 9,000 Homes Covered by Building Permits

26 September 2026 · Republic of Cyprus Property News · Reporting period: January–May 2026

The number of homes covered by building permits issued in Cyprus has increased. According to CYSTAT, permits issued between January and May 2026 provide for 8,978 residential units — up 63.7% compared with the same period in 2025. This gives buyers a reason to keep an eye on new developments, but it does not yet justify expectations of an imminent fall in prices.

What the Construction Figures Show

CYSTAT figures published on 16 September record 3,650 building permits for the first five months of 2026, compared with 2,764 a year earlier. This figure covers different types of construction projects, not just housing.

The statistics separately count the residential units covered by those permits: their number increased from 5,484 to 8,978. Within the residential apartment blocks category, the figure reached 6,667 units, compared with 3,497 a year earlier — an increase of 90.6%.

Source: CYSTAT release containing tables for May and January–May 2026. The reporting period of May 2026 is also identified in CYSTAT’s construction publication calendar.

Does This Mean Almost 9,000 Completed Homes?

When deciding whether to buy, it is important to understand the stage a particular property has reached. A permitted development, a building under construction and a completed apartment available for occupation meet different buyer needs.

Should Buyers Expect Cyprus New-Build Prices to Fall?

Editorial assessment: an increase in the number of homes covered by permits could expand future choice if those developments are delivered. However, this indicator alone cannot predict when apartments will reach the market or how much they will cost.

For example, someone looking for a one-bedroom apartment as a permanent home needs options in a suitable neighbourhood, within their budget and with an appropriate completion date. An expensive development elsewhere on the island may make little practical difference to their available choices.

The decision to buy now or wait is therefore better linked to personal timing and specific alternatives. If a home is needed for a planned relocation, waiting for a new development should be weighed against temporary rental costs. Buyers without a fixed deadline can compare several developments under construction and monitor changes in their terms.

How to Use This News When Choosing an Apartment

What This Means for Resale Property Sellers

When preparing an apartment for sale, it is useful to compare it with new builds that buyers might consider within the same budget. The listing should clearly communicate verifiable advantages: the property’s actual condition, included furnishings and equipment, documentation and potential handover date.

General construction statistics are no substitute for a property valuation. Comparable listings and transactions, the condition of the building and the specific location matter more when setting an asking price.

This article is based on published CYSTAT statistics. The explanations for buyers and sellers are editorial interpretations and do not constitute forecasts of prices, construction timelines or investment returns.