Cyprus Mail
Business

Value of building permits doubles

The value of building permits issued in the first half of the year more than doubled compared to the first six months of 2018, according to data released Tuesday by the Cyprus Statistical Service.

During the period January to June 2019, a total of 3,393 building permits were issued compared to 3,110 in the corresponding period of the previous year.

At the same time, the total value of these permits increased by 115.9 per cent, coming to €1.7 billion compared to €788.7 million in the first half of 2018.

In June 2019 alone, the number of building permits authorised by municipal authorities and district administration offices came to 573.

The total value of these permits reached €208.7 million and the total area 189,100 square metres. The permits provide for the construction of 812 housing units.

Building permits constitute a leading indicator of future activity in the construction sector, the Statistical Service said.

Related posts

Saudi attacks raise spectre of oil at $100/barrel

Reuters News Service

The digital economy: challenges for global taxation

CM Guest Columnist

Banks sizzle as European stocks log fourth week of gains

Reuters News Service

State-owned asset-management company brings in €288m in its first 10 months

Staff Reporter

LSE board poised to decide fate of Hong Kong exchange’s $39bn offer

Reuters News Service

Foreign trophy hunters scent bargains in Britain as pound weakens

Reuters News Service