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REAL ESTATE

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Value of Building Permits Increases by 52.6%

Value of Building Permits Increases by 52.6%

According to the Statistical Service of Cyprus, the number of building permits authorized by the municipal authorities and the district administration offices during November 2017 stood at 474. The total value of these permits reached €308.7 million and the total area 225.7 thousand square metres. These building permits provide for the construction of 658 dwelling units.

During the period January – November 2017, 5,291 building permits were issued compared to 4,900 in the corresponding period of the previous year. The total value of these permits increased by 52.6% and the total area by 45.1%. Τhe number of dwelling units recorded an increase of 41.9%.

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

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