THE NUMBER of building permits authorised in September 2014 stood at 407 compared with the 422 authorised in September last year; a fall of 4%, according to figures released by the Cyprus Statistical Service.
Compared to September 2013, the total area of these permits rose by 11% to 70,103 square metres from 63,022, while their value rose 11% to €77.9 million from €70.4 million.
During September, building permits were issued for:
- Residential buildings – 286 permits
- Non-residential buildings – 80 permits
- Civil engineering projects – 15 permits
- Division of plots of land – 20 permits
- Road construction – 6 permits
New home construction
The 286 residential building permits authorised in September provided for the construction of 308 dwelling units comprising 144 single houses and 164 multiple housing units (such as apartments, semis, townhouses and other residential complexes).
Year to date performance
During the first nine months of 2014, a total of 3,714 building permits were authorised; a fall of 7% compared to the 3,993 permits authorised during the same period last year. The total value of these permits has fallen by 26%, while their total area has fallen 27%.
According to the Cyprus Statistical Service, building permits constitute a leading indicator of future activity in the construction sector.