Building permits show 30% fall in area – Cystat

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By Stelios Orphanides

Building permits fell more than 30 per cent in January to August compared to a year before in terms of area and more than 29 per cent in terms of value mainly on a decline in residential projects, the statistical service said.
Overall area of the projects that received building permits in the first eight months of the year was 503.653 square meters, Cystat said in a statement on its website today. Overall value was 563.5 million euros.
The area of residential projects fell 36 per cent to 373,444 square meters while their value fell 35 per cent to 357.8 million euros in January to August compared to the respective period last year, the statement said.
Non residential building permits fell 0.7 per cent decline in terms of area to 125,366 square meters in January to August compared to a year ago, while their value rose 24 per cent to 145.7 million euros, Cystat said.

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About Author

Stelios Orphanides is a journalist at CyprusBusinessMail.com. To contact Stelios Orphanides: [email protected]