Building permits issued up by 18.7%

The building permits issued in Cyprus during the first eight months of this year recorded an annual increase of 18.7%, data released by the Statistical Service, on Friday, show.

The Statistical Service announced that the number of building permits authorised by the municipal authorities and the district administration offices during August 2021 stood at 523.

The total value of these permits reached €143.4 million and the total area 124.9 thousand square metres. These building permits provide for the construction of 554 housing units.

During the period January – August 2021, 5,240 building permits were issued compared to 4,416 in the corresponding period of the previous year, recording an increase of 18.7%.

The total value of these permits fell by 4.5% and the total area increased by 8.1%. The number of housing units recorded an increase of 12.1%. 

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