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Reduction in the number and value of building permits in the seven-month period

Reduction in the number and value of building permits in the seven-month period

07.10.2022

According to the Statistical Service, the number of building permits issued in the first seven months of 2022 decreased by 4.2% compared to the corresponding period last year.

In particular, 4,521 building permits were issued by the city and district administrations between January and July 2022, compared to 4,717 in the corresponding period of 2021.

According to the Statistical Service, the total cost of these permits decreased by 4.0% and the total area by 9.9%. The number of residential units decreased by 5.8%.

In addition, in July alone, the number of building permits issued by municipal authorities and district administrations in July 2022 reached 623.

The total value of these licenses reached 245.6 million euros, and the total area – 199.2 thousand square meters. With these permits, it is planned to build 776 housing units.

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

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

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