Building permits slump

THE number of building permits issued between January and October this year fell 8.4 per cent to 7,291 over the same period in 2007, the Statistics Department said yesterday.

The total value of these permits decreased by 0.1 per cent and the total area affected by 2.4 per cent. ?he number of dwelling units to be built under the permits recorded a decrease of 6.3 per cent.

Building permits constitute a leading indicator of future activity in the construction sector.

In October this year the number of building permits authorised by the municipal authorities and the district administration offices stood at 844. The total value of these permits reached €300 million and the total area 374,600 thousand square metres. These building permits provide for the construction of 2,088 dwelling units.

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