Building permits decrease by 26.6% in first five months of 2013

The numberof building permits authorised by the municipal authorities and the district administration offices during May 2013, stood at 380, announced the Statistical Service of the Republic of Cyprus.

It is added that 2,285 building permits were issued during the period January – May 2013, registering a decrease of 26.6% compared to the corresponding period of the previous year. The total value of permits in May reached €107,8 million and the total area 74,2 thousand square metres. These building permits provide for the construction of 308 dwelling units.

The total value of permits during the first five months of 2013 decreased by 9.1% and the total area by 20.6%. The number of dwelling units recorded a decrease of 14.0%. Building permits constitute a leading indicator of future activity in the construction sector, the announcement concludes.

Source: Financial Mirror