Building permits surge sharply higher

The number of building permits authorised during March showed a moderate increase of 4.5% year-on-year to 820, but the capacity and value of the permits surged sharply higher, according to data released by the Statistics Department.

The total value of the permits reached CYP 130,1 mln for a 35.4% year-on-year rise and the total area was up 28% to 330,800 square metres. The building permits provide for the construction of 2.024 dwelling units.

During the period January – March 2005, 2.352 building permits were issued, registering an increase of 9,3% compared to the corresponding period of the previous year. The total value of these permits increased by 23,8% and the total area by 17,8%. ?he number of dwelling units showed a rise of 33,8%.