Insider Business Building permits up by 14.4% in April 

Building permits up by 14.4% in April 

 

The number of building permits issued this April compared to last April was up by 14.4%, data released by the Cyprus Statistical Service show. At the same time, an increase of 6.6% is recorded during the first four months of this year.

The number of building permits issued by local authorities this April was 469, compared to 410 in April 2017, recording an increase of 14.4%. The total value of these permits was up by €17 million reaching €105.6 million compared to €89.6 million in April last year.

The total area of the properties reached 101,500 square metres compared to 87,600 square metres last April.

The permits issued this April concern the construction of 418 residential units compared to 289 last April. During the period of January – April 2018, 1,984 building permits were issued compared to 1,861 in the same period of 2017, recording an increase of 6.6%.

The total value of these permits was up by 27.5% and their total area by 24.5%. The number of residential units to be built was up by 22.3%.

Building permits constitute an important indicator for future activity in the building sector, the Statistical Service says.

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