The construction of new homes continues to rise in Cyprus and official figures released by the Cyprus Statistical Service revealed that the amount of permits for new homes rose by 43.8% in April 2017 (the most recent figures available) compared to a year earlier.

In April 2016, just 201 new homes were issued with permits. However in April 2017 there were 289 new homes built with 295 residential permits issued. New home construction consisted of 173 single houses and 176 multiple housing units.

The Cyprus Statistical Service has cited the issuing of building permits as a key indicator of future activity in the construction sector. In 2017 the number of new homes that received building permits between January and April has increased by 38%, compared to the first four months of last year.

One of the biggest factors behind the sector’s recovery may be China, according to the Cyprus Association of Valuers and Property Consultants, which stated that developers from Cyprus began visiting China to attract property investors in 2013, after the island received its billion-euro bailout, with most Chinese buyers focusing on Paphos and Limassol.