Value of Cyprus building permits rises again

The number of building permits authorised in the last month of 2008 fell by 4.8% in December to 779 from 740 in December 2007.
However, the value of building permits authorised continued to show the strong rising trend which it had displayed since September.
Building permits in value terms rose by 19.7% to EUR 259.5 mln.
Similarly, the area of building permits authorised rose by 18.9% to 327.9 million, while the number of dwellings rose by 8% to 1,757.
For the year as a whole, the number of building permits fell by 6.6% to 8,896, whereas the value rose by 4.4% to EUR 2,905 mln (EUR 2.9 billion).
The area of building permits authorised fell by 2.1% to 3,689 and the number of dwellings authorised fell by 2% to 20,082.

Fiona Mullen
www.sapientaeconomics.com