THE NUMBER of building permits authorised in July 2015 stood at 479 compared with the 449 authorised in July 2014; an increase of 6.7%, according to the latest figures from the Cyprus Statistical Service.
Compared with July 2014, the total area of these permits rose 39.6% to 89,551 square metres from 64,129, while their value increased 56.3% to €129.0 million from €82.5 million.
During July, building permits were issued for:
- Residential buildings – 318 permits
- Non-residential buildings – 107 permits
- Civil engineering projects – 16 permits
- Division of plots of land – 31 permits
- Road construction – 7 permits
During the first seven months of 2015 the number of building permits authorised for both residential and non-residential projects has fallen by 1.2% to 2,974 compared with the 3,009 authorised in the same period last year, while their value has risen by 24.6% to €641.5 million and their area has increased by 19.9% to 547.6 thousand square metres.
New home construction
The 318 residential building permits approved in July provided for the construction of 337 new dwellings comprising 140 single dwellings and 196 multiple dwelling units (such as apartments, semis, townhouses and other residential complexes).
This is an increase of 71.9% compared with July 2014 when building permits were issued for the construction of 196 new dwellings.
According to the Cyprus Statistical Service, building permits constitute a leading indicator of future activity in the construction sector.