Building permits dropped by an annual 10.7% in April declining to 560 from 627 in the respective period of last year, data released by the Cyprus Statistical Service (CyStat) show.
According to CyStat, the total value of building permits issued in April amounted to €144.8 million in April 2022 and total area at 127.1 thousands square metres compared with €230.6 million and 192,8 sq.m in April last year. These building permits provide for the construction of 601 housing units.
During the period January – April 2022, 2,511 building permits were issued compared to 2,524 in the corresponding period of the previous year, recording a decrease of 0.5%.
The total value of these permits decreased by 1.6% and the total area by 6.7%. The number of housing units recorded a decrease of 7.4%.
Building permits constitute a leading indicator of future activity in the construction sector, CyStat said.