THE NUMBER of building permits issued in July stood at 519 compared with the 613 issued in July 2012; a fall of 15%, according to figures released earlier today by the Cyprus Statistical Service.
Compared with July 2012, the total area of these permits fell to 81,682 square metres from 142,702 (-43%), while their value decreased to €91.098 million from €147.947 million (-38%).
During July, building permits were issued for:
- Residential buildings – 350 permits
- Non-residential buildings – 97 permits
- Civil engineering projects – 17 permits
- Division of plots of land – 47 permits
- Road construction – 8 permits
During the first seven months of 2013 a total of 3,220 building permits have been authorised; a drop of 25% compared with the 4,284 permits issued during the same period last year. Their total value has fallen by 20% and their total area by 28%.
New home construction
The 350 residential building permits approved in July provided for the construction of 321 new homes comprising 162 single houses and 159 multiple housing units (such as apartments and other residential complexes).
This is a fall of 39% compared with July 2012 when building permits were issued for the construction of 569 new homes.
During the first seven months of 2013, the number of new homes for which permits were authorised has fallen by 25% compared with the same period last year.
According to the Cyprus Statistical Service, building permits constitute a leading indicator of future activity in the construction sector.