The Cyprus Statistical Service announces that the number of building permits authorised by the municipal authorities and the district administration offices during February 2007 stood at 813. The total value of these permits reached £133.5 million and the total area 299.5 thousand square metres. These building permits provide for the construction of 1,784 dwelling units.
During the period January – February 2007, 1,551 building permits were issued, registering a reduction of 4.7% compared to the corresponding period of the previous year. The total value of these permits increased by 12.5% and the total area by 3.1%. ?he number of dwelling units recorded a rise of 9.7%.
Building permits constitute a leading indicator of future activity in the property construction sector.
