Cyprus building permits up 7.7% in 2006

The number of building permits in Cyprus rose by 7.7% in the whole of 2006 to reach 9,794, compared with 9,098 in 2005.

The value of permits rose in the same period by 8.1% to CYP 1,448 mln (CYP 1.4 bln), compared with CYP 1,340 mln in 2005.

However, the area of such permits rose by much less, only 2.6%, to 3.5 mln square metres, indicating that buildings are getting smaller.