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Cyprus building permits March 2009

It is difficult to draw any conclusions from the CYSTAT figures as developers in Cyprus often start construction work before the authorities have issued the building permits.

ACCORDING to the latest figures published by the Cyprus Statistical Service (CYSTAT) building permits for the construction of 1,381 dwellings were authorised in March 2009; down slightly on the 1,593 authorised in March last year.

During the first quarter of this year building permits for the construction of 4,553 dwellings have been authorised; up slightly on the 4,405 issued during the first quarter of 2008.

As a consequence, it is likely that a number of these permits have been issued for the construction of dwellings that have already been completed.

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