THE NUMBER of building permits issued in May 2013 stood at 380 compared with the 618 issued in May 2012; a fall of 39%, according to figures released by the Cyprus Statistical Service earlier today.
Compared with May 2012, the total area of these permits fell to 74,157 square metres from 134,085 (-45%), while their value decreased to €107.762 million from €126.585 million (-15%).
During May, building permits were issued for:
- Residential buildings – 272 permits
- Non-residential buildings – 58 permits
- Civil engineering projects – 19 permits
- Division of plots of land – 29 permits
- Road construction – 2 permits
During the first five months of 2013 a total of 2,285 building permits have been authorised; a drop of 27% compared with the 3,114 issued during the first five months of 2012. Their total value has fallen by 9% and their total area by 21%.
New home construction
The 272 residential building permits approved in May provided for the construction of 308 new homes comprising 178 single houses and 130 multiple housing units (such as apartments and other residential complexes).
This is a fall of 33% compared with May 2012 when building permits were issued for the construction of 459 new homes.
During the first five months of 2013, the number of new homes for which permits were authorised has fallen by 14% compared with the same period in 2012.
According to the Cyprus Statistical Service, building permits constitute a leading indicator of future activity in the construction sector.
True. ‘Just deserts’ do eventually restore some measure of retribution to the situation when what goes around eventually comes around. As Macbeth put it: “Bloody instructions, which, being taught, return to plague the inventor”!
Not only that Mark but the lawyers and bankers are not earning or creating more victims.
Its Funny !! No. No, no its not. Its not funny at all. No, not funny. But…but Yes it is….Its so Funny!
The cheating builders are getting their just desserts !.
True?