Building permits decline in first seven months

The first seven months of the year saw a considerable decline in the value and surface area of premises for which building permits were granted.

According to data released by the Statistical Service (CyStat), 3,893 building permits were issued from January to July this year, compared to 4,136 permits in the same period in 2019.

The total real estate value of these permits was 22.3 per cent lower, while the total surface area fell by 7.5 per cent.

However, the number of permits issued for residential units – a sub-group of the total – went up by 1.6 per cent.

CyStat said building permits constitute a major indicator for future trends in the construction sector.

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.