Ministry of Finance, Statistical Service

New Publication: Construction and Housing Statistics, 2015

The Statistical Service announces that it has published the annual report “Construction and Housing Statistics, 2015”. The report contains detailed data on the construction sector, pertaining, inter alia, to production, capital formation, inputs, new dwellings completed, building permits authorized, labour cost index and price indices of construction materials.

The main developments in 2015 were:

(a) The construction sector exhibited in 2015 the first signs of a recovery, following six years of deep recession. Based on the production index of the sector, construction activity in 2015 registered an increase of 0,3% compared to a fall of 21,6% in 2014.

(b) The production value of the construction sector increased in 2015 by 2,4% to €1.756,9 million compared to €1.716,1 million in 2014. The value added at current prices recorded a marginal increase of 0,6%.

(c) Τhe share of new construction in residential buildings is estimated at 51,2% of the total and of non-residential buildings at 25,1%, while civil engineering projects accounted for 23,7%. The corresponding figures for 2014 were 42,2% for residential buildings, 23,7% for non-residential buildings and 34,1% for civil engineering projects.

(d) The number of persons employed in the sector in full time equivalent terms increased from 18.447 persons in 2014 to 19.241 persons in 2015.

(e) The number of persons registered as unemployed decreased from 6.510 persons in 2014 to 5.295 persons in 2015.

(f) The price index of construction materials decreased by 2,7% in 2015 compared to the increase of 1,0% recorded in 2014.

(g) The number of new dwellings completed decreased by 12,1% to 2.390 housing units compared to 2.718 in 2014. By administrative district, the number of new dwellings is distributed as follows: Lefkosia (Nicosia) 516, Ammochostos (Famagusta) 176, Larnaka 411, Lemesos (Limassol) 917 and Pafos 370.

(h) The average area per dwelling completed in 2015 was 216 square metres for houses and 134 square metres for apartments compared to 207 and 132 respectively in 2014.

(i) The cost of construction per square metre (excluding the value of land) increased from €989,4 in 2014 to €1.009,5 in 2015 for houses and decreased from €893,3 in 2014 to €839,6 in 2015 for apartments.

(j) The dwelling stock at the end of the year amounted to 446 thousand dwelling units, of which 60,9% were in the urban areas.

An electronic version of the report can be downloaded free of charge from the web site of the Statistical Service. Within the coming days, the paper publication will also be made available for sale from the Government Printing Office in Nicosia at the price of €10,00 per copy.



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