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Residential building permits fall in June

The recession in the Cyprus construction continues to bite with the number of building permits issued for the construction of residential properties in June 2010 down almost 44 percent on the number issued during the corresponding period last year.

THE Cyprus Statistical Service (CYSTAT) has announced that the number of building permits authorized by the Municipal Authorities and the District Administration Offices during June 2010 was 792, comprising:

  • Residential buildings – 563 permits
  • Non-residential buildings – 125 permits
  • Civil engineering projects – 35 permits
  • Road construction – 5 permits
  • Division of plots of land – 64 permits

Focusing on the 563 permits issued for the construction of residential buildings, these were approved for 1,193 dwelling units – 479 single houses and 714 multiple housing units such as apartments and other residential complexes. Compared to the June 2009 total of 2,125 dwelling units, this represents a fall of nearly 44%.

Cyprus building permits - June 2010

Source: Cyprus Statistical Service

Between January and June 2010 building permits were issued for the construction of 5,464 residential properties. Compared to the same period last year, when permits were issued for the construction of 5,949 residential units; a fall of 8.2%.

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

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