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Increase in area and value recorded in 2023 as regards building permits

08:02 - 12 March 2024

Economy Reporter

An increase both in area by 4.3% and in value by 16.4% was recorded in 2023 as regards building permits.

CySTAT has announced that the number of building permits authorised by the municipal authorities and the district administration offices during December 2023 stood at 587. The total value of these permits reached €242.2 million and the total area 203.4 thousand square metres. These building permits provide for the construction of 942 dwelling units.

During the period January – December 2023, 7,170 building permits were issued compared to 7,604 in the corresponding period of the previous year, recording a decrease of 5.7%. The total value of these permits increased by 16.4% and the total area by 4.3%. The number of dwelling units recorded an increase of 12.2%.

Building permits constitute a leading indicator of future activity in the construction sector, the press release says.

(Source: CNA)

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