- Cyprus Property News Magazine - http://www.news.cyprus-property-buyers.com -

Building permit numbers slow in April

IN A PRESS release issued earlier today, the Cyprus Statistical Service (CYSTAT) announced that the number of building permits authorized by the Municipal Authorities and the District Administration Offices during April 2010 was 668, comprising:

Focusing on the 501 permits issued for the construction of residential buildings, these were approved for 1,176 dwelling units; 441 single houses and 735 multiple housing units such as apartments. Compared to the April 2009 total of 1,252 dwelling units, this represents a decrease of 6.1%.

Cyprus building permits - April 2010

Source: Cyprus Statistical Service

Between January and April 2010 building permits were issued for the construction of 5,915 residential properties. Compared to the same period last year, when permits were issued for the construction of 5,805 residential units; an increase of just 1.9%.

According to the Cyprus Statistical Service, building permits constitute a leading indicator of future activity in the construction sector.