Bulding permits issued, in Cyprus, decrease by 30% first quarter

The Cyprus Statistical Service announces that the number of building permits authorized by the municipal authorities and the district administration offices during March 2013 stood at 428. The total value of these permits reached €82,4 million and the total area 87,3 thousand square metres. These building permits provide for the construction of 303 dwelling units.During the period January–March 2013, 1.397 building permits were issued, registering a decrease of 30,0% compared to the corresponding period of the previous year. The total value of these permits decreased by 5,3% and the total area by 13,2%. Τhe number of dwelling units recorded a decrease of 7,0%.Building permits constitute a leading indicator of future activity in the construction sector. Cyprus statistical Office