NICOSIA - The number of building permits issued was down by 25.3% in June, on an annual basis, data published by the Cyprus Statistical Service, on Tuesday, shows.
The total value of permits was down by €70.97 million compared to the value of permits issued in June last year.
The total value of permits issued in June this year came to €64.6 million, compared to €135.59 million last June, recording a fall of 52.34%.
Total permits issued in June 2013 came to 416, compared to 557 in June 2012.
Total area of properties under permit was also reduced in June by 48.9% to 63,700m2 compared to 124,700m2 in June of last year.
According to the Statistical Service’s data, the 416 permits issued in June will equal with 197 dwelling units, compared to 523, which were going to be built in June 2012, equaling to a drop of 62.33%.
During the period of January – June 2013 a total of 2,701 building permits were issued, down by 26.4% compared to the same period of 2012.
The total value of these permits was down by 16.7% and the total area covered by 25.1%, whilst their number fell by 22.5%.
Building permits constitute an important indicator on future activity in construction.