Building permits in Cyprus for the first two months of 2013 declined by 18.4%, marking a continued contraction in the construction sector.
According to figures released on Thursday by Cyprus Statistical Service, building permits issued by municipal and district authorities for January - February reached 969 compared with 1,188 of the corresponding period of 2012. The total value of these permits increased by 16.9% and the total area by 2.4% on an annual basis.
Housing units increased by 8.2% year on year.
Building permits for February stood at 483. The total value of these permits reached €196,8 million and the total area 164,9 thousand square metres. These building permits provide for the construction of 756 dwelling units.
Source: Financial Mirror