Cyprus building permits slip by 0.2% in August

The number of building permits authorised by the municipal authorities and the district administration offices fell by 0.2% over the year earlier in August 2012 to reach 477.
However, the total value of these permits rose over the year earlier by 10.6% to EUR 125.7 mln.
Since the area fell by 24.9% to 97,744 square metres, this suggests that high-value villas dominated permits in August.
The number of permits for dwellings rose by 4.7% to 422.
In January – August 2012, the number of permits issued fell by 6.7% compared with the year earlier to 4,761.
The total value of these permits fell by 23.4%, the total area by 31.1% and the number of dwelling units by 35.7%.