ECONOMY

Construction permits in Cyprus grow

Construction permits in Cyprus grow

The building permits issued in Cyprus in the first 11 months of 2021 were up 15.9% year-on-year, data released by the Cyprus Statistical Service (CyStat) showed on Thursday.

Aaccording to a CyStat press release, 715 building permits were issued by municipal authorities and district administrations in November 2021.

The total value of those permits reached 197.7 million euros and the total area came to 194,600 square meters, it said.

Building permits are an important indicator of future activity in the construction sector.

According to the CyStat press release, during the period between January and November 2021, 7,386 building permits were issued, compared to 6,375 in the same period last year, marking an annual increase of 15.9%. However, the total value of permits decreased by 11.1%, although the total surface concerned increased by 1.2% year-on-year.

At the same time, 918 housing units are planned to be built with the building permits issued, while the total number of housing units for the period January-November 2021 reached 9,466, registering a yearly increase of 10.8%, compared to 8,540 in the same period of the previous year.