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Constructions dive

10/04/2013 13:11
The licensing of construction projects followed a downward trend, according to Cystat data released on Wednesday.

The area of licensed projects in January fell by 13.5% to 110 thousand square meters from 127.1 thousand in the corresponding month of 2012.

The highest decline was observed in Limassol while decreases were seen in Nicosia too.

In Limassol, the area of licensed projects in January 2013 dropped to 14.4 thousand sq. meters from 47.2 thousand sq. meters last year, a decrease of 69.4%.

Smaller decline of 4.6% was recorded in Nicosia with the area declining to 41.7 thousand sq. meters from 43.7 thousand sq. meters.

In Paphos, it surged 97.5% to 25.3 thousand sq. meters from 12,8 thousand sq. meters.

A rise of 10.1% is observed in Larnaca to 19.1 thousand sq. meters from 17.4 thousand sq. meters last year.

Free Famagusta recorded an increase 56.3% to 9.4 thousand sq. meters from 6 thousand last year.

The number of dwellings recorded a sharp increase of 7.7%. With the building permits, 432 dwellings will be built against 468 last year.

A 12.4% decrease is seen in the number of building permits, falling to 486 from 555.

The value of permits fell 13.4% to €108,6 thousand from €125,5 thousand in January 2012.