Insider Economy Building permits in Cyprus on the rise

Building permits in Cyprus on the rise

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.

 

Read more:

https://in-cyprus.com/value-of-building-permits-in-first-half-of-year-increases-over-100-annually/

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