According to CYSTAT date released on Wednesday, the total volume of the new building licenses issued for January-August 2003 increased by 20% to 5,723 thousand cubic metres against 4,782 thousand in the corresponding period of 2002.
As the data from the district authorities reveal, in the first eight months of 2003 the housing sector soared 35%, unlike the commercial sector that tumbled 43% in the volume of the new building licenses. It is worth noting that the hotel and tourist apartment licenses have showed a significance increase, despite the ongoing slump in tourist arrivals and revenues.
According to data stated in the building permits by the architects of the projects, the current value of the projects for which licenses have been issued for January-August 2003 is estimated at £672 million against £548 million in 2002 (+23). The value of the housing projects has reached half a billion pounds.
As the data from the district authorities reveal, in the first eight months of 2003 the housing sector soared 35%, unlike the commercial sector that tumbled 43% in the volume of the new building licenses. It is worth noting that the hotel and tourist apartment licenses have showed a significance increase, despite the ongoing slump in tourist arrivals and revenues.
According to data stated in the building permits by the architects of the projects, the current value of the projects for which licenses have been issued for January-August 2003 is estimated at £672 million against £548 million in 2002 (+23). The value of the housing projects has reached half a billion pounds.
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