Cyprus - Dwelling Stocks





Cyprus: Dwelling Stocks

Mnemonic HSTK.ICYP
Unit Ths. #
Annual 0.67 %
Data 2017 452
2016 449

Series Information

Source Statistical Service of the Republic of Cyprus (CYSTAT)
Release Construction and Housing
Frequency Annual
Start Date 12/31/1995
End Date 12/31/2017

Cyprus: Real Estate

Reference Last Previous Units Frequency
Building Permits Jul 2019 743 573 #, NSA Monthly
Non-residential Building Permits Jul 2019 119 86 #, NSA Monthly
Residential Building Permits Jul 2019 519 410 #, NSA Monthly
House Price Index for Existing Homes 2019 Q2 102.33 101.84 Index 2015=100, NSA Quarterly
House Price Index for New Homes 2019 Q2 116.44 110.22 Index 2015=100, NSA Quarterly
House Price Index 2019 Q1 77.21 76.68 Index 2010Q1=100, NSA Quarterly
Dwelling Stocks 2017 452 449 Ths. # Annual

Release Information

For Cyprus, measures of construction activity, with detail for dwellings: Gross output, value-added, stage of construction, construction materials and labor, etc. Annual since 1995, in euros.

Indicators include:

  • Gross output
  • Value added
  • Building permits (number, value, area)
  • Dwelling stock
  • Dwelling completions
  • Dwelling size (average area per dwelling)
  • Dwelling cost (average areal cost)
  • New construction of residential buildings, non-residential buildings, and civil engineering
  • Repairs and maintenance
  • Construction materials (price index)
  • Cement (sales volume)
  • Labor cost index

The annual "construction and housing" statistics are published in two phases: A one-year lag for  preliminary values for production value, price index of construction materials, sales of cement, and building permits; and a two-year lage for value of new construction, dwelling stock, and dwelling completions.

The indexes are rebased and reweighted every five years. Six indicators were redefined. Otherwise we have not observed revisions.

The source writes:

Data on the structure of enterprises in the construction sector as from 2008 onwards are not directly comparable to data for previous years due to methodological differences that can be attributed to two main factors: the improvements in the coverage of the sector in the Business Register and the treatment of subcontracting. More specifically:

1.a. The reconciliation of the Business Register to the definition of the “enterprise“ has led to the removal from the construction sector of certain statistical units that referred to the construction activity of public or semi-government organisations, such as the Public Works Department, the district administration offices, the Electricity Authority, the Telecommunications Authority etc.

1.b. The use of administrative records as the sole source of updating the Business Register has brought about changes to the sector’s population and unit reclassifications. In particular, the coverage of the self employed has significantly improved leading to a large increase in the population of the sector. Consequently, it was deemed necessary to recalculate the weighting coefficients that were used in the sample surveys.

2. In the past, subcontracting was not included in the calculation of the value of production (neither of intermediate consumption) so that the production value is comparable with the total cost of construction of a project as estimated from the Building Permits and Housing Survey. In implementing the provisions of Regulation (EC) No. 250/2009 concerning the definitions of characteristics for structural business statistics, starting from the reference year 2008, subcontracting is included in the production value (and in intermediate consumption). Hence, this change has no effect on value added.

The annual labor cost index is lagging (see related article).