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Building permit numbers improve in October

Figures released today by the Cyprus Statistical Service show that the number of building permits issued for the construction of residential properties rose in October compared to the same month 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 October 2010 was 676, comprising:

  • Residential buildings – 497 permits
  • Non-residential buildings – 90 permits
  • Civil engineering projects – 30 permits
  • Road construction – 4 permits
  • Division of plots of land – 55 permits

Focusing on the 497 permits issued for the construction of residential buildings, these were approved for 1,257 dwelling units – 376 single houses and 881 multiple housing units such as apartments and other residential complexes.

Compared to the October 2009 total of 1,020 dwelling units, this represents an increase of 23.2%.

Between January and October 2010 building permits were issued for the construction of 12,430 residential properties. Compared to the same period last year, when permits were issued for the construction of 13,779 residential units; a fall of 9.8%.

Building permits for residential properties in Cyprus - October 2010

Source: Cyprus Statistical Service

Looking at the broader picture, during the first 10 months 2010 of a total of 7,311 building permits were issued. This represents a fall of 1.0% compared to the first 10 months of last year. The total value of these permits fell by 6.6% and their total area fell by 4.8%.

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

Readers' comments

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  • Costas Apacket says:

    Perhaps CYSTAT could publish a monthly running total of outstanding Title Deeds so that we can see if the number is reducing or increasing?

  • Oh dear says:

    @Nigel,

    I agree with your comments.

    Like I said….”Don’t you just love Statistics”

    :-)

  • @Oh Dear – just because 497 permits have been issued it doesn’t necessarily mean that these projects will be built.

    Also, developers start construction work before the permits have been issued, even though this is illegal. As a consequence, some of the permits that have been issued could be for developments that have already been completed.

  • Oh Dear says:

    Don’t you just love Statistics.

    Example: The latest survey shows that 3 out of 4 people make up 75% of the world’s population.

    “Focusing on the 497 permits issued..these were approved for 1,257 dwelling units”

    I wonder if 1,257 Titles will be issued on completion of 497 projects?

    – Division of plots of land = 55 permits (title)

    Are they using some sort of new ‘Euro’ calculator?

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