Cyprus Property News magazine for overseas buyers & real estate investors

Tuesday, June 2, 2020
Home Property Statistics Building permits fall for tenth consecutive month

Building permits fall for tenth consecutive month

ACCORDING to the Cyprus Statistical Service (CYSTAT), the number of building permits issued in July fell for a tenth consecutive month as developers anticipated weaker demand.

CYSTAT figures show that the number of building permits authorised by the municipal authorities and the district administration offices during July 2008 stood at 810, compared with 848 in July 2007.

The total area provided for was 329,300 square metres, down 3.1% compared with July 2007.

On a more positive note, the total value of these permits rose slightly, by 1.1% to € 258.7 million.

These building permits provide for the construction of 1,925 dwelling units.

During the period January-July 2008, 5,109 building permits were issued; a decrease of 13.0% compared to the same period in 2007; their total value of these permits fell by 5.6% and their total area by 7.9%.

?he number of dwelling units dropped by 8.2%.

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