10/08/2015 13:35
The area licensed for future construction projects recorded a significant increase in the first five months of 2015, based on data released by Cystat.
According to figures, the area of licensed projects increased by 17.9% in the period January – May 2015 reaching 384.5 thousand square meters from 326.2 thousand square meters in the corresponding period of 2014. An increase was recorded in all municipalities.
Building permits constitute a leading indicator of future activity in the construction sector.
The largest increase was recorded in free Famagusta, as the area of licensed projects reached 26.9 thousand sq. meters from 20.1 thousand sq. meters in the corresponding period of 2014, rising by 34%.
An increase of 27% is registered in Limassol reaching 110 thousand sq. meters from 86.6 thousand sq. meters in the first five months of 2014.
In Nicosia, the area of licensed projects for the period January – May 2015 increased by 21.2% to 129.1thousand sq. meters from 106.5 thousand sq. meters.
A lower increase was recorded in Larnaca as the licensed projects area reached 59.6 thousand sq. meters from 55.3 thousand sq. meters, rising by 7.7%.
In Paphos, the increase reached 2.3% as the area of licensed projects reached 59 thousand sq. meters from 57.7 thousand sq. meters in the corresponding period of 2014.
The number of dwelling units recorded an increase as it rose by 21.8%.
These building permits provide for the construction of 1.308 dwelling units against 1.074 in the corresponding period of 2014.
The total value of these permits for the period January – May 2015, increased by 21% to €434.6 mn from €361.7 mn in the corresponding period of 2014.
During the period January – May 2014, the number of building permits issued (both residential and non-residential), fell by 3% at 2.034 from 2.097 last year.
According to figures, the area of licensed projects increased by 17.9% in the period January – May 2015 reaching 384.5 thousand square meters from 326.2 thousand square meters in the corresponding period of 2014. An increase was recorded in all municipalities.
Building permits constitute a leading indicator of future activity in the construction sector.
The largest increase was recorded in free Famagusta, as the area of licensed projects reached 26.9 thousand sq. meters from 20.1 thousand sq. meters in the corresponding period of 2014, rising by 34%. An increase of 27% is registered in Limassol reaching 110 thousand sq. meters from 86.6 thousand sq. meters in the first five months of 2014.
In Nicosia, the area of licensed projects for the period January – May 2015 increased by 21.2% to 129.1thousand sq. meters from 106.5 thousand sq. meters.
A lower increase was recorded in Larnaca as the licensed projects area reached 59.6 thousand sq. meters from 55.3 thousand sq. meters, rising by 7.7%.
In Paphos, the increase reached 2.3% as the area of licensed projects reached 59 thousand sq. meters from 57.7 thousand sq. meters in the corresponding period of 2014.
The number of dwelling units recorded an increase as it rose by 21.8%.
These building permits provide for the construction of 1.308 dwelling units against 1.074 in the corresponding period of 2014.
The total value of these permits for the period January – May 2015, increased by 21% to €434.6 mn from €361.7 mn in the corresponding period of 2014.
During the period January – May 2014, the number of building permits issued (both residential and non-residential), fell by 3% at 2.034 from 2.097 last year.
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