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Building permits: Area increased, value decreased

Building permits: Area increased, value decreased

31.03.2022

The number of building permits issued by municipal authorities and district administrations in December 2021 rose to 778.

According to the Statistical Service, the total cost of these permits reached 241.1 million euros, and the total area – 224.8 thousand square meters. These permits provide for the construction of 1,040 housing units.

Between January and December 2021, 8,164 building permits were issued compared to 7,023 in the corresponding period of the previous year, representing a 16.2% increase. The total cost of these permits decreased by -7.8%, while the total area increased by 3.8%. The number of housing units increased by 13.1%.

Building permits are an important indicator of future activity in the construction sector.

Source and photo: www. inbusinessnews.reporter.com.cy.com, Editor estateofcyprus.com

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