08.07.2022
The Cyprus Statistical Office (Cystat) on Thursday announced that the number of building permits in April 2022 fell by 10.7% year on year.
Building permits fell to 560 during this time, compared to 627 in the corresponding period last year.
At the same time, the total cost of these permits amounted to 144.8 million euros, and the total area reached 127.1 thousand square meters. m compared to 230.6 million euros and 192.8 thousand square meters. m in 2021.
With these permits, it is planned to build 601 residential units. Building permits are an important indicator of future activity in the construction sector.
Between January and April 2022, 2,511 building permits were issued compared to 2,524 in the corresponding period of the previous year, reflecting a decrease of 0.5%.
The total value of these permits was €748.2 million , down 1.6%, while the total area was down 6.7%.
Between January and April, the number of residential units decreased by 7.4% year on year.
Inflation in Cyprus in June approached double digits, primarily due to a sharp increase in electricity prices, which continue to rise due to the war in Ukraine.
According to a report from the Cypriot Statistical Service of Cyprus (Cystat) released on Thursday, the annual inflation rate rose to 9.6% in June.
In addition, the consumer price index reached 112.4 units against 111.37 units in the previous month.
In terms of an increase of 9.65 units compared to June 2021, approximately 55% of the impact comes from fuel prices (3.84 units) and electricity (1.55 units).
The report states that between January and June 2022, the CPI rose by 7.8% compared to the corresponding period of the previous year.
At the same time, the largest annual changes by economic origin compared to June 2021 were observed in petroleum products from 46.1%, electricity from 40.4% and agricultural goods from 7.3%.
Compared to the previous month, the largest positive change was observed in oil products – 7.9%.
The biggest negative change was noted in agricultural commodities, which decreased by 7.8%.
The Cyprus Stock Exchange (CSE) ended Thursday, July 7 with a marginal gain.
The overall Cypriot stock market index stood at 67.46 points at 12:47 pm during the day, reflecting an increase of 0.03% from the previous trading day.
The FTSE/CySE 20 index stood at 40.37 points, up 0.02%.
The total value of the transactions was 9,150 euros.
As for the sub-indices, the alternative and hotel indices rose by 0.15% and 0.88%, respectively, while the main indices and investment company indices remained stable.
Cyprus Cement Company (-0.8%), Atlantic Insurance (no change), Salamis Tours (+1.11%), Pandora (+3.33%) and Vassiliko Cement Works (no change) generated the highest investment interest.
