in-cyprus 24 October 2019 -Edited by Annie Charalambous
An increasing number of building permits were issued in Cyprus between January and July this year, according to Statistical Service data released on Thursday.
Specifically, a total of 4,136 building permits were issued during these months compared to 3,699 in the corresponding period last year.
The total value of these permits increased by 91.8% and the total area by 42.5%. As for the number of residential units, this recorded an increase of 50.6%.
The number of building permits issued by municipal and district authorities in July this year reached 743 compared to June’s 573. In July 2018, a total of 589 permits had been issued.
The total value of these permits reached €295.4 million and the total area was 236,800 square metres. These building permits provided for the construction of 1,028 residential units
Building permits constitute a leading indicator of future activity in the construction sector, the Statistical Service also said.
