Building permits decrease by 14.5 per cent

Building permits fell 14.5 per cent in 2011 compared to the corresponding period of the previous year, according to data issued by the Statistical Services.

A total of 7,506 building permits were issued between January and December 2011.

At the same time, the total value of these permits decreased by 21.8 per cent and the total area by 22.8 per cent. Τhe number of dwelling units recorded a decrease of 38.2 per cent.

The number of building permits authorised by the municipal authorities and the district administration offices during December 2011 stood at 560. The total value of these permits reached €189.3 million euros and the total area 213.900 square meters. These building permits provide for the construction of 573 dwelling units.

Source: Cyprus-Mail.com