Insider Economy Building permits rise for the 4th consecutive year

Building permits rise for the 4th consecutive year

The building permits issued in 2018 reached 6,408, recording an upward trend for the fourth consecutive year. Figures released by the Statistical Service on Wednesday showed that the number of building permits issued between January and December 2018 increased 11.9%, compared to 5.728 in the corresponding period of the previous year.

The total value of these permits reached €2,05 bn from €1,54 bn in 2017, an increase of 19.5%. The total area increased 11.9% and the number of dwelling units was up by 25.6%.

The Statistical Service announced that the number of building permits authorized by the municipal authorities and the district administration offices in December 2018 stood at 479.

“The total value of these permits reached €158,8 million and the total area 139,9 thousand square metres. These building permits provide for the construction of 504 dwelling units” it added.

(Cyprus News Agency)

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