The 2024 Construction and Land Development Survey shows growth in the construction sector, with a 10.7% increase in value added and a 1.9% rise in employment compared to 2023.
The Construction and Land Development Survey for 2024 reports positive growth in the construction sector compared to 2023.
The production value increased by 7.4% to €6,696.5 million, from €6,232.6 million in 2023. Value added at current prices rose by 10.7% to €1,747.5 million, up from €1,578.7 million.
New construction projects reached €3,823.8 million, a 6.4% increase from 2023. Residential buildings increased by 8.6%, non-residential buildings by 2.6%, and civil engineering projects by 2.0%.
Employment in the sector grew by 1.9%, reaching 39,700 persons in 2024, up from 38,900 in 2023.
Key indicators include:
The survey covers approximately 1,360 enterprises involved in construction activities, with data collected via email, administrative sources, interviews, and phone calls.
For more information, visit the CYSTAT Portal or contact Mr. Panagiota Christodoulou at 22602172 or via email at pchristodoulou@cystat.mof.gov.cy.
