Building Permits Up 1% Jan-Oct 09

The number of building permits issued by municipal authorities rose by 1.3 percent year-on-year for the period January to October 2009, said the Cyprus Statistical Service.

The month-on-month comparison for 2009 shows that building permits for the month of October amounted to 716, falling from the 775 permits issued in September 2009.

The total value of October permits reached €225,3 million and the total area 203,3 thousand square metres. These building permits provide for the construction of 1.020 dwelling units.

During the period January –October 2009, 7.388 building permits were issued.

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