Cyprus Mail

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.

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