Building permits increased in January 2017

The number of building permits authorized by the municipal authorities and the district administration offices during January 2017 stood at 465 compared to 356 in January 2016, according to figures published today by the Statistical Service.

The total value of these permits reached Euros 108,4 million and the total area 88,4 thousand square metres, compared to Euros 73,0 million and 69,3 thousand square metres in the corresponding month of the previous year.

These building permits provide for the construction of 381 dwelling units compared to 243 in January 2016.

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

Source: Cyprus News Agency