articles | 05 May 2017

Building permits up 27% in January to February 2017

Building permits rose in the first two months of the year an annual 27% in terms of construction area to 182,520 square metres and 31% in terms of value to €200.8m, the statistical service said.

The increase in construction area in January to February was on a 34% rise in residential projects to 162,706 square metres compared to the respective period of 2016 which more than offset a 7.4% drop to 19,087 square metres in that of commercial projects, Cystat said in a statement on its website on Friday. The value of residential projects rose 30% to €157.6m while that of commercial projects increased 45% to €27.4m.

The number of residential units which got a building permit in the first two months of the year was 764 compared to 555 in the respective period last year, Cystat said.

Source: Cyprus Mail

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