Cyprus building permits still show strong value growth

The Cyprus Statistical Service has announced that the number of building permits authorised by the municipal authorities and the district administration offices during October 2005 stood at 812. The total value of these permits reached CYP 128.0 mln and the total area 329.0 thousand square metres. These building permits provide for the construction of 1,630 dwelling units.

During the period January-October 2005, 7,280 building permits were issued, registering an increase of 5.9% compared to the corresponding period of the previous year. The total value of these permits increased by 15.5% and the total area by 12.8%. Τhe number of dwelling units showed a rise of 20.8%.

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