Cyprus building permits up 7.6% y/y in July

The Statistical Service has announced that the number of building permits authorised by the municipal authorities and the district administration offices during July 2007 stood at 848 (up 7.6% year on year).

The total value of these permits reached CYP 149.8 mln (up 23.1% year on year) and the total area 339,700 square metres (up 14.7%).  

These building permits provide for the construction of 1,882 dwelling units.

During the period January – July 2007, 5,875 building permits were issued, registering an increase of 1.6% compared to the corresponding period of the previous year.

The total value of these permits increased by 18.1% and the total area by 6.6%.

Τhe number of dwelling units recorded a rise of 4.8%.

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