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Building permits up in number, down in value

The Cyprus Statistical Service announced that the number of building permits authorized by the municipal authorities and the district administration offices during June 2016 stood at 455. The total value of these permits reached €89.5 million and the total area 91.4 thousand square metres. These building permits provide for the construction of 287 dwelling units.

During the period January – June 2016, 2,611 building permits were issued compared to 2,495 in the corresponding period of the previous year. The total value of these permits decreased by 4.4% and the total area by 0.6%. Τhe number of dwelling units recorded an increase of 5.2%.

Building permits constitute a leading indicator of future activity in the construction sector.

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