Building permits constitute a leading indicator of future activity in the construction sector. The latest figures, announceв by the Statistical Service of Cyprus on June 16, 2019, show an increase in the number of permits issued.
The number of building permits authorized by the municipal authorities and the district administration offices during March 2019 stood at 522. The total value of these permits reached €178,3 million and the total area 142,1 thousand square metres. These building permits provide for the construction of 615 dwelling units.
During the period January – March 2019, 1.591 building permits were issued compared to 1.515 in the corresponding period of the previous year. The total value of these permits increased by 13,2% and the total area by 12,7%. Τhe number of dwelling units recorded an increase of 26,6%.