Cyprus building permits rise again in March

The number of building permits authorised by the municipal authorities and the district administration offices increased for a second straight month during March 2009, rising by 7.3% to 766.
However, the total value of these permits dropped by 7.2% to EUR 215.1 mln and the total area decreased by fell by 14.6% to 255,578 square metres.
In March 1,381 dwelling units were authorised, compared with 1,593 in March 2008.
During the period January -March 2009, 2.180 building permits were issued, registering an increase of 2.6% compared to the corresponding period of the previous year.
The total value of these permits increased by 5.2% but the total area of these permits decreased by 4.3%.
Τhe number of dwelling units authorised in the first quarter rose by 3.4%.
Building permits constitute a leading indicator of future activity in the construction sector.