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 December 2009 was 791, comprising:
- Residential buildings – 551 permits
- Non-residential buildings – 150 permits
- Civil engineering projects – 38 permits
- Road construction – 7 permits
- Division of plots of land – 45 permits
Focusing on the permits issued for residential buildings, these provide for the construction of 1,624 dwelling units – 506 single houses and 1,118 multiple housing units such as apartments. Compared to the December 2008 total of 1,757 dwelling units, this represents a fall of 28.1%.
During the whole of 2009, building permits were issued for the construction of 15,044 dwelling units compared to the 18,325 issued during 2008; a reduction of 3,744 or 17.9%.
Building permits constitute a leading indicator of future activity in the construction sector.