articles | 23 February 2016

Building permits value up in 2015

Construction activity in Cyprus accelerated in 2015 with building permits reaching 5,014 in the period of January–December 2015, marking an increase of 1.64% year on year.

According to data released recently by Cyprus Statistical Service (Cystat), the total value of the permits amounted to €1.07 billion, marking an increase of 24.7% compared with 2014, whereas the total area increased by 12.3% at 81.116 square meters.

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

In December building permits issued by municipal authorities and district administration offices reached 433, marking an increase of 2.8% compared with November. These permits will provide for the construction of 255 dwelling units.

Total value reached €156 million, marking an increase of 133% compared with €69.4 million in November, whereas total area increased by 27% amounting to 81.6000 square metres, representing compared withNovember.

Source: Incyprus

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