Cyprus building permits accelerate in November

Growth in the number of building permits authorised accelerated again in November 2005, as permits rose by 26.1% on November 2004, compared with a rise of 21.7% in October.

The value of building permits also rose strongly, by 29.1% year on year in October, compared with 26.1% year on year in September. This was almost matched by the rise in the square-metre area of building permits authorised, which rose by 23.7% year on year on November, compared with 22.1% in October.

Building permits were uneven for much of 2005, falling in some months compared with the year-earlier period but rising sharply in others.

For the first 11 months as a whole, the number of building permits authorised rose by 8.7% compared with the first 11 months of 2004, while the value of such permits rose by 16.9% and the square metre area by 13.9%.