The number of building permits for the construction of newhomes in Cyprus rose 32.8 per cent in June 2018 compared to the correspondingmonth last year providing for the construction of 506 new residential homes.
The total number of building permits authorised in Cyprusduring June 2018 stood at 514 compared with the 502 authorised during June 2017according to official figures released by the Cyprus Statistical Service.
During June 2018, building permits were issued for: Residentialbuildings – 349 permits, Non-residential buildings – 94 permits, Civilengineering projects – 19 permits, Division of plots of land – 34 permits, Roadconstruction – 17 permits
The 349 residential building permits approved in Juneprovided for the construction of 506 new homes (dwellings). These comprised 193single houses (compared with 206 in June 2017) and 313 multiple housing unitssuch as apartments, semis, townhouses and other residential complexes (comparedwith 175 in June 2017); a rise of 32.8%. Of those 506 new residential homes,190 are destined for Nicosia, 165 for Limassol, 84 for Larnaca, 37 for Paphosand 30 for Famagusta.
During the first half of 2018, 3,110 building permits wereissued compared to the 2,870 issued in the same period last year; an increaseof 8.9%. The total value of these permits rose by 20.4% and the total area by26.2%.
According to the Cyprus Statistical Service, buildingpermits constitute a leading indicator of future activity in the constructionsector.