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Cyprus Building Permits Fall 14% In Early 2025, Signaling A Market Slowdown

by THEFUTURE.TEAM

November 19, 2025

New data from the Cyprus Statistical Service reveals a notable 14% decline in building permits issued during the January–July 2025 period. A total of 4,195 permits were granted compared to 4,879 in the corresponding period of 2024, indicating a deceleration in the approval of new developments.

July 2025 At A Glance

In July 2025 alone, authorities issued 796 permits, which collectively held a value of €454.9 million. The construction projects covered a total area of 359,100 square meters, equating to approximately 1,512 residential units. These figures underscore the robust scale of investment despite a broader decline in permit numbers.

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Year-On-Year Value And Scope Increases

Interestingly, comparing the figures to the same month in the previous year, experts observed a 4.8% increase in the total value of permits, a 7.8% expansion in the overall area approved, and a 4.6% growth in the number of residential units. Such statistics suggest that while the frequency of permits has fallen, the focus has shifted towards higher-value and potentially more substantial projects.

Institutional Reforms And Digital Transformation

It is important to note that, effective from July 1, 2024, the responsibility for issuing building permits transitioned from municipalities and regional administrations to the Provincial Regional Self-Government Organizations. This change, coupled with the adoption of the new integrated digital platform Hippodamos, aims to streamline the permit approval process, enhancing both efficiency and oversight in the sector.

These developments provide a crucial insight into the evolving landscape of Cyprus’s construction market and highlight the challenges and opportunities that lie ahead for stakeholders in the real estate and development arena.

The Future Forbes Realty Global Properties

Meta’s Reality Labs Deepens Its Losses Even As Revenue Climbs

Meta Platforms’ Reality Labs division reported an operating loss of $4.62 billion in the second quarter, highlighting the continued cost of the company’s investments in virtual and augmented reality technologies. The unit generated revenue of $431 million, up from $370 million a year earlier and above analysts’ expectations of $423.4 million, according to StreetAccount. Operating losses widened from $4.53 billion in the same quarter of 2025.

Revenue Grows As Losses Continue

Despite higher revenue, Reality Labs remains one of Meta’s biggest cost centres. Since late 2020, the division has accumulated more than $80 billion in operating losses as the company continues investing in hardware and software for its long-term computing strategy.

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Focus Shifts Toward AI Wearables

Reality Labs develops the Quest virtual reality headsets and Ray-Ban Meta smart glasses in partnership with EssilorLuxottica. While Meta originally positioned the division around its metaverse vision, the company has increasingly focused on AI-powered wearables as demand for virtual reality devices has grown more slowly than expected.

Long-Term Investment

Meta renamed Facebook to Meta in 2021 to reflect its strategy of expanding beyond social media through immersive technologies. Although Reality Labs continues to report multi-billion-dollar quarterly losses, Zuckerberg has maintained that investments in AI, wearable devices and next-generation computing platforms are central to the company’s long-term growth strategy.