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Slump in construction activity continues

The Cyprus construction industry’s slump continued in July with building permit numbers rising slightly compared to July last year, according to the latest figures from the Cyprus Statistical Service.

Construction sector continues to deteriorate

The island’s construction industry is suffering from the impact of the economic crisis and lack of liquidity as the number of building permits continue to fall with no signs of a recovery on the horizon.

Continued decline in building permits

Cyprus construction activity continued to decline in May as building permit numbers fell once again compared with the same period last year, according to the latest figures from the Cyprus Statistical Service.

Construction production index plummets

Conditions in the island’s construction industry have worsened dramatically in recent times, with production in the first quarter of the year shrinking at the highest rate since records began.

Cyprus construction sector decline continues

Latest figures from the Cyprus Statistical Service paint a very bleak picture of the construction sector which continues to decline as the Island’s financial and banking crisis deepens.

Cyprus new homes down fifty percent

Home construction in Cyprus is showing no signs of a recovery with the number of new residential properties authorised in March falling by more than half those authorised in March 2011.

New home construction in February down a third

There are still no signs of a recovery in the Island’s construction sector with the number of new residential properties authorised in February falling by a third compared with February 2011.

Forty percent fall in residential buildings

The number of new houses authorised in January fell by forty percent compared with January 2011 and the number of new residential properties being built is unlikely to increase until the number of unsold apartments and houses is reduced.

Construction sector in recession for second year

In its annual report on construction and housing, the Cyprus Statistical Service (CySTAT) says that the Island’s construction sector continued to exhibit signs of recession for the second consecutive year during 2010.

Cyprus construction output falls 17 percent

Construction output in Cyprus experienced one of the highest falls in the 27 EU member states during the third quarter of 2011 and prospects for improvements in the short-term are not favourable.

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