Number of building permits in Cyprus increased in Jan -Aug 2009

The number of building permits authorized by the municipal authorities and the district administration offices during August 2009 stood at 578, according to the Statistical Service of the Republic of Cyprus.

The total value of these permits reached 153.8 million Euro and the total area 176,6 thousand square metres. These building permits provide for the construction of 900 dwelling units.

During the period January – August 2009, 5.897 building permits were issued, registering an increase of 5.1% compared to the corresponding period of the previous year. The total value of these permits increased by 7.2% and the total area decreased by 6%. Τhe number of dwelling units recorded a decrease of 9%.

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