Cyprus Mail

Building permits drop in H1, Cystat says

Building permits fell in the first half of the year an annual 0.6 per cent in terms of construction area to 455,382 square meters and 4.4 per cent in terms of value to €490.2m, the statistical service said.

The drop in January to June was mainly on a decline in building permits for commercial projects which fell 12 per cent in terms of area to 89,204 square meters and 2.6 per cent in terms of value to €107.5m compared to the respective period of 2015, Cystat said in a statement on its website on Wednesday. Building permits for Residential projects rose 3.9 per cent to 363,032 square meters and 2.1 per cent to €350.3m.

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