- Cyprus Property News Magazine - https://www.news.cyprus-property-buyers.com -

Building permits continue fall in August

THE Cyprus Statistical Service (CYSTAT) has announced that the number of building permits authorized by the Municipal Authorities and the District Administration Offices during August 2010 was 536, comprising:

Focusing on the 397 permits issued for the construction of residential buildings, these were approved for 797 dwelling units – 351 single houses and 446 multiple housing units such as apartments and other residential complexes.

Compared to the August 2009 total of 900 dwelling units, this represents a fall of 11.4%.

Cyprus building permit numbers August 2010

Source: Cyprus Statistical Service

Between January and August 2010 building permits were issued for the construction of 7,289 residential properties. Compared to the same period last year, when permits were issued for the construction of 8,010 residential units; a fall of 9.0%.

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