Cyprus Mail

Building permits show increase in construction ahead

By Stelios Orphanides

Building permits rose in the first two months of the year 24 per cent compared to a year before in terms of area to 178,083 square meters and 1.6 per cent in terms of value to €184.4m, the statistical service said.

The increase resulted from a 52 per cent rise in permits from local authorities in both building area and value of housing projects in January to February to 129,827 square meters and €128.6m respectively compared to the respective period a year ago, offsetting a drop in commercial projects, Cystat said in a statement on its website today.

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