Number of building permits and total area recorded a significant decrease in 2022 compared with the previous year.
According to the Statistical Service, the number of building permits authorized by the municipal authorities and the district administration offices during December 2022 stood at 618.
The total value of these permits reached pound 213,2 million and the total area 187,1 thousand square metres. These building permits provide for the construction of 863 dwelling units.
Meanwhile, during the period January – December 2022, 7.604 building permits were issued compared to 8.164 in the corresponding period of the previous year, recording a decrease of 6,9%. The total value of these permits remained at the level of the preceding year, while the total area declined by 6,3%. The number of dwelling units recorded a decrease of 6,3%.
Building permits constitute a leading indicator of future activity in the construction sector, the Statistical Service says.
Source Cyprus News Agency