Cyprus building permits fall for ninth month in October

The number of building permits authorised dropped for the ninth straight month in October, falling by 12.1% compared with October 2010 to 594 units.
The total value of these permits fell in the same period by 21.3% to EUR 170.5 mln.
The total area decreased by 23.6% to 180,757 square metres.
Building permits for dwellings fell even more steeply, by 50.9% to 617 dwelling units.
For the period January – October 2011, building permits fell by 13.2% over the year earlier to 6,345 building permits.
The value dropped by 21.8% to EUR 1.7 bln and the total area by 24.1% to 1.89 mln metres squared.
Τhe number of dwelling units in this period fell by 38.1% to 7,694.