THE NUMBER of building permits issued in April 2013 stood at 508 compared with the 500 issued in April 2012; an increase of 2%, according to figures released by the Cyprus Statistical Service earlier today.
However, compared with April 2012, the total area of these permits fell to 85,812 square metres from 106,044 (-19%), while their value decreased to €87.934 million from €106.275 million (-17%).
During April, building permits were issued for:
- Residential buildings – 343 permits
- Non-residential buildings – 84 permits
- Civil engineering projects – 25 permits
- Division of plots of land – 46 permits
- Road construction – 10 permits
During the first four months of 2013 a total of 1,905 building permits have been authorised; a decrease of 24% compared with the 2,496 issued during the first four months of 2012. Their total value has decreased by 7% and their total area has fallen by 14%.
New home construction
The 343 residential building permits approved in April provided for the construction of 297 new homes comprising 182 single houses and 115 multiple housing units (such as apartments and other residential complexes).
This is a fall of 20% compared with April 2012 when building permits were issued for the construction of 373 new homes.
During the first four months of 2013, the number of new homes for which permits were authorised has fallen by 10% compared with the same period in 2012.
According to the Cyprus Statistical Service, building permits constitute a leading indicator of future activity in the construction sector.