Building permits decline 3.1% y/y in Jan-Oct

The number of building permits issues in January – October 2012, fell by 3.1% over the year earlier to 6,147 according to the Statistical Service.
The total value of these permits fell by a much bigger 21.5% in the same period and the total area by 32.9%.
Τhe number of dwelling units authorised in January-October fell by 36.2%.
In October alone 782 building permits were authorised with a value of EUR 172.6 mln and an area of 126.5 thousand square metres.
These building permits provide for the construction of 469 dwelling units.
Building permits constitute a leading indicator of future activity in the construction sector.