Cyprus building permits slide again in February

Building permits were down again in February, falling by 14% over the year earlier to reach 699. The total value of these permits fell by 31.7% to EUR 193.9 mln and the total area declined by 39% to 204,698 square metres.
These building permits provide for the construction of 941 dwelling units a fall of 44.4% compared with February 2011.
For the first two months of the year, building permits fell by 6.6% to 1,337.
The total value of these permits decreased by 27.0% and the total area by 34.1%.
Τhe number of dwellings authorised fell by 42.0%.
The downbeat building permit data come after news that property sales in April fell by 19.7% year on year to 542, from 675 in the same month of 2011.
For the first four month as a whole, property sales are down 16.4% to 2,741, from 2,291
www.sapientaeconomics.com