Cyprus building permits decline in July

The number of building permits authorised by the municipal authorities and the district administration offices in July 2011 fell to 601, from 763 in July 2011.
The total value of these permits reached EUR 177.1 mln and the total area 186.8 thousand square metres.
These building permits provide for the construction of 859 dwelling units, compared with 1,028 in July 2010.
During the period January – July 2011, 4,625 building permits were issued, a drop of 14.1% compared with the corresponding period of the previous year.
The total value of these permits decreased by 23.8% to EUR 1.3 bln and the total area by 28.4% to 1.4 mln square metres.
Τhe number of dwelling s authorised recorded a decrease of 39.4% to 5,742.