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Building permits down again

Latest figures from the Cyprus Statistical Service show that building permits for the construction of 1,285 residential properties were authorised in November 2009.

IN A PRESS release issued yesterday, the Cyprus Statistical Service (CYSTAT) announced that the number of building permits authorized by the Municipal Authorities and the District Administration Offices during November 2009 was 771, comprising:

  • Residential buildings – 559 permits
  • Non-residential buildings – 119 permits
  • Civil engineering projects – 32 permits
  • Road construction – 8 permits
  • Division of plots of land – 53 permits

Focusing on the permits issued for the construction of residential buildings, these provide for the construction of 1,285 dwelling units – 563 single houses and 722 multiple housing units such as apartments. Compared to the November 2008 total of 2,252 dwelling units, this represents a fall of 42.9%.

Building Permits for the Construction of Residential Properties
Month20082009Increase/
Decrease
%age
Change
January1,2291,58535629.0%
February1,5831,58740.3%
March1,5931,381-212 -13.3%
April1,6581,252-406 -24.5%
May1,7151,191-524 -30.6%
June1,6592,12546628.1%
July1,9251,161-764 -39.7%
August931900-31 -3.3%
September1,6921,557-135 -8.0%
October2,0881,020-1,068 -51.1%
November2,2521,285-967 -42.9%
Total18,32515,044-3,281 -17.9%

Source: Cyprus Statistical Service

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

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