Insider Business Building permits up an annual 34.9% in June

Building permits up an annual 34.9% in June

Building permits issued by local authorities in June 2018 recorded an impressive 34.9% increase reaching 514, compared to 381 in June last year, data released by the Cyprus Statistical Service show.

According to the data the total value of permits was  €133.7 million and concerned a total area of 131.200 square metres. It is projected that on the basis of these permits a total of 506 residential units will be constructed compared to 502 in June of 2017.

During the period of January – June 2018 a total of 3,110 building permits were issued compared to 2,870 at the same period of the previous year.

The total value of permits was up by 20.4% and the total area by 26.2%. The number of residential units presented an increase of 25.1%.

According to the Statistical Service building permits constitute a significant indicator for the future activity in the building sector.

(Cyprus News Agency)

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