Number of building permits down 8.2% in January

The number of building permits issued in January 2021 decreased year over year by 8.2% and their total value decreased by 10.3%, according to data released Wednesday by the Statistical Service f Cyprus.

The total area of these permits decreased by 13.4%. The number of dwelling units recorded an increase of 0.9%.

More specifically, the number of building permits authorized by the municipal authorities and the district administration offices during January stood at 494. The total value of these permits reached €160.1 million and the total area 143.6 thousand square meters. These building permits provide for the construction of 702 dwelling units.

Building permits constitute a leading indicator of future activity in the construction sector.