CYPRUS: Building permits decrease by 6,6% in January – July 2014

Building permits constitute a leading indicator of future activity in the construction sector.

During the period January – July 2014, 3.009 building permits were issued, registering a decrease of 6,6% compared to the corresponding period of the previous year.

The total value of these permits decreased by 30,3% and the total area by 31,6%. Τhe number of dwelling units recorded a decrease of 40,8%.

The number of building permits authorized by the municipal authorities and the district administration in July 2014 fell to 449 from 519 in July 2013, recording a decrease of 13.5%.

The total value of these permits reached €82,5 million in July 2014 to from €91,09 million in July 2013, while the total area decreased to 64,100 square meters from 81,600 square meters .

These building permits provide for the construction of 196 dwelling units.