Area and value of building permits show significant annual increase during January – February 2022

A significant annual increase both in area and in value of building permits was recorded during the period January – February 2022.

The Statistical Service of the Republic announced Thursday that the number of building permits authorized by the municipal authorities and the district administration offices during February 2022 stood at 774. The total value of these permits reached €228,1 million and the total area 189,7 thousand square metres. These building permits provide for the construction of 901 dwelling units.

During the period January – February 2022, 1.309 building permits were issued compared to 1.150 in the corresponding period of the previous year, recording an increase of 13.8%. The total value of these permits increased by 19.2% and the total area by 16.1%. The number of dwelling units recorded an increase of 12.9%.

Building permits constitute a leading indicator of future activity in the construction sector, the Statistical Service says.

Source: Cyprus News Agency