Cyprus' dwelling units up in 2016

Τhe number of dwelling units recorded a significant increase of 14.1% in 2016.

During the period January–December 2016, 5.354 building permits were issued compared to 5.014 in the corresponding period of the previous year. The total value of these permits increased by 8.0% and the total area by 18.8%, Cystat announced.

It said that the number of building permits authorized by the municipal authorities and the district administration offices during December 2016 stood at 454. The total value of these permits reached €129,7 million and the total area 113.3 thousand square metres. These building permits provide for the construction of 397 dwelling units.

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

Source: Famagusta Gazette