Figures just released by the Cyprus Statistical Service show that the number of building permits authorized by the municipal authorities and the District Administration offices during March 2007 stood at 986.
The total value of these permits reached CYP 170.8 million and the total area 389.0 thousand square metres. These building permits provide for the construction of 2,213 dwelling units.
During the period January – March 2007, 2,537 building permits were issued, registering a reduction of 0.9% compared to the corresponding period in 2006. The total value of these permits increased by 18.7% and the total area by 8.5%.?he number of dwelling units recorded a rise of 15.7%.
Building permits constitute a leading indicator of future activity in the construction sector.
