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