IN A PRESS release issued earlier today, the Cyprus Statistical Service (CYSTAT) announced that the number of building permits authorized by the Municipal Authorities and the District Administration Offices during January 2010 was 619, comprising:
- Residential buildings – 462 permits
- Non-residential buildings – 86 permits
- Civil engineering projects – 26 permits
- Road construction – 3 permits
- Division of plots of land – 42 permits
Compared to January 2009, the total number of permits issued in January 2010 fell by 10.8%, their value fell by 15.4% and their total area fell by 18%.
Focusing on the permits issued for residential buildings, these provide for the construction of 1,290 dwelling units – 507 single houses and 783 multiple housing units such as apartments. Compared to the January 2009 total of 1,585 dwelling units, this represents a fall of 18.6%.
According to CyStat, building permits constitute a leading indicator of future activity in the construction sector.
