Value of building permits doubles

The value of building permits issued in the first half of the year more than doubled compared to the first six months of 2018, according to data released Tuesday by the Cyprus Statistical Service.

During the period January to June 2019, a total of 3,393 building permits were issued compared to 3,110 in the corresponding period of the previous year.

At the same time, the total value of these permits increased by 115.9 per cent, coming to €1.7 billion compared to €788.7 million in the first half of 2018.

In June 2019 alone, the number of building permits authorised by municipal authorities and district administration offices came to 573.

The total value of these permits reached €208.7 million and the total area 189,100 square metres. The permits provide for the construction of 812 housing units.

Building permits constitute a leading indicator of future activity in the construction sector, the Statistical Service said.

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.