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Cyprus

Building permit numbers continue downward trend

The number of building permits issued between January – August 2014 registered a decrease of 7.4 per cent, compared to the corresponding period of the previous year, the Statistical Service said.

In total 3,307 building permits were issued in the first eight months of the year.

The total value of these permits dropped by 29.1 per cent and the total area by 30.2 per cent. Τhe number of dwelling units recorded a decrease of 37.7 per cent.
The Statistical Service also announced that the number of building permits authorised by the municipal authorities and the district administration offices in August stood at 298, providing for the construction of 227 dwelling units.

The total value of these permits reached €48.5 million and the total area 47,100 square metres.
Building permits constitute a leading indicator of future activity in the construction sector.

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