Financial Mirror (Cyprus)

Building permits rose despite lockdown

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Constructi­on improved in the first two months of 2021, with the number of building permits issued increasing 1.9% on the year before despite a lockdown in January.

A second national lockdown that began on January 10 was gradually lifted from February 1.

According to the Cyprus Statistica­l Service, 1,150 building permits were issued in January- February compared to 1,129 in the same period last year.

However, the total value of these permits decreased by 4.6% and the total area covered by 5.1%.

The number of housing units planned for also recorded a small 0.8% decrease.

For February alone, building permits authorized by local authoritie­s stood at 656.

The total value of these permits reached EUR 170.1 mln, and the total area covered 155,900 square metres, providing for the constructi­on of 663 dwellings.

Building permits are considered a good indicator of future constructi­on activity.

According to CyStat data, the area of licensed projects across Cyprus showed a decrease of 12.6%, with only Nicosia and Paphos increasing the land for constructi­on.

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