Building permits up by 15.9% annually in first 11 months of 2021

The building permits issued in Cyprus in the first eleven months of 2021 were up annually by 15.9%, data released by the Cyprus Statistical Service (CyStat) on Thursday show.

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

The total value of these permits reached €197.7 million and the total area reached 194.6 thousand square meters respectively, it says.

According to the 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 increase of 15.9%.

The total value of these permits decreased by -11.1% and the total floor area increased by 1.2%.

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

It is noted that building permits are an important indicator of future activity in the construction sector.