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Building permits up 3.6%

Building permits up 3.6%

11.08.2022

Between January and May 2022, a 3.6% annual increase in building permits was recorded.

According to the Statistical Service, 3,272 building permits were issued between January and May 2022, compared to 3,157 in the corresponding period of the previous year, indicating a 3.6% increase. The total cost of these permits decreased by 6.8% and the total area by 9.4%. The number of residential units decreased by 9.4%.

The Statistical Office reports that the number of building permits issued by the city and district administrations during May 2022 was 761.

The total value of these permits reached 248.0 million euros, and the total area – 224.8 thousand square meters. These building permits provide for the construction of 893 housing units, he adds.

Source and photo: www.stockwatch.com.cy, Editor of estateofcyprus.com

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