Building permits down in number, up in value

The Statistical Service announced that the number of building permits authorised by the municipal authorities and the district administration offices during April 2007 stood at 749.

The total value of these permits reached CYP 139.5 mln and the total area 324.5 thousand square metres. These building permits provide for the construction of 1,731 dwelling units.

During the period January-April 2007, 3,286 building permits were issued, registering a reduction of 0.2% compared to the corresponding period of the previous year.

The total value of these permits increased by 21.9% and the total area by 13.1%.

Τhe number of dwelling units recorded a rise of 16.6%.

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