Cyprus building permits leap in February

Authorised building permits leapt in February according to the latest figures from the Statistical Service.
The number of building permits authorised by the municipal authorities and the district administration offices rose by 17.1% over the year earlier to reach 813, compared with 720 in February 2009.
In January, building permits had declined by 20.5%.
The total value of permits in February increased by 21.3% to EUR 284.0 mln, while the total area rose by 20.4% to 335,783 square metres.
These building permits provided for the construction of 1,691 dwelling units, up from 1,587 in February 2009.
During the period January -February 2010, 1,432 building permits were issued, a rise of 1.3% compared with the corresponding period of the previous year.
The total value of these permits increased by 1.0% and the total area by 2.1%.
Τhe number of dwelling units recorded a decrease of 6.0%.
Building permits constitute a leading indicator of future activity in the construction sector.