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REAL ESTATE

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Value of Building Permits Increase by 27.4%

Value of Building Permits Increase by 27.4%

The Statistical Service has announced that the number of building permits authorized by the municipal authorities and the district administration offices during May 2018 stood at 612. The total value of these permits reached €138.1 million and the total area 142.0 thousand square metres. These building permits provide for the construction of 541 dwelling units.

During the period January – May 2018, 2,596 building permits were issued compared to 2,368 in the corresponding period of the previous year. The total value of these permits increased by 27.4% and the total area by 25.6%. Τhe number of dwelling units recorded an increase of 23.5%.

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

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