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Building permit numbers up in October

By David Crowther
Housing crisis exacerbated by permits approval

ACCORDING to the Cyprus Statistical Service (CYSTAT), there was a small increase in the number of building permits issued in October 2008 compared with the number issued in October 2007. 844 building permits were issued during October 2008, up 47 on last year.

These building permits provided for the construction of 2,088 dwelling units, which is also up from the 1,775 in October 2007.

During the period January – October 2008, 7,291 building permits were issued, compared with 7,963 during the corresponding period of 2007; a drop of 8.4%.

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

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