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Cyprus

Building permits increase in first five months of 2016

Building workers

Building permits were up in the first five months of the year, according to figures released on Tuesday by the Statistical Service.

It said that during the period January – May, 2.156 building permits were issued compared to 2.034 in the corresponding period of the previous year.

The total value of these permits decreased by 8.4% and the total area by 5.3%. Τhe number of dwelling units recorded an increase of 2.4%, the Service said.

The Statistical Service announced that the number of building permits authorized by the municipal authorities and the district administration offices during May 2016 stood at 440.

The total value of these permits reached €102,7 million and the total area 84,7 thousand square metres. These building permits provide for the construction of 278 dwelling units.

Building permits constitute a leading indicator of future activity in the construction sector.

(CNA)

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