The number of building permits authorized by the municipal authorities and the district administration offices during July 2017 stood at 492, according to the Statistical Service of Cyprus.
The total value of these permits reached €202.3 million and the total area 176.1 thousand square metres. These building permits provide for the construction of 537 dwelling units.
During the period January – July 2017, 3,362 building permits were issued compared to 3.053 in the corresponding period of the previous year. The total value of these permits increased by 49.2% and the total area by 41.6%. Τhe number of dwelling units recorded an increase of 39.7%.
Building permits constitute a leading indicator of future activity in the construction sector.