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Decrease in the number of building permits but increase in value

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Decrease in the number of building permits but increase in value

Construction activity declined in October, with building permits issued that month falling to 583 from 690 the previous month.

However, according to the Statistical Service, the value of building permits in October amounted to € 279.3 million compared to € 201.6 million in the previous month, while the total area of permits amounted to 239.3 thousand square meters. compared to 201.6 thousand square meters. meters in the previous month of 2020. The increase in both value and area is due to the increase in large projects that were licensed in October.

During the period January – October 2020, 5,689 building permits were issued compared to 5,864 in the corresponding period of the previous year, reflecting the effects of the coronavirus pandemic.

The total value of these permits decreased by 24.3% and the total area by 9.8%. On the contrary, the number of housing units increased by 1.3%.

By province, during the first ten months of the year, Nicosia recorded an increase of 7.10% on an annual basis, after a total of 2,217 permits were issued compared to 2,070 in the period January – October 2019. In Famagusta an increase of 5.03% per year was recorded with 271 building permits being issued in the first ten months of 2020 compared to 258 on an annual basis.

Larnaca showed the largest percentage drop with 14.5%, where the number of building permits in the first ten months of 2020 fell to 768 compared to 898 in the corresponding period last year.

Limassol fell by 7.41%, with building permits issued in the first ten months of 2020 amounting to 1,648 compared to 1,780 in the corresponding period last year, while the number of building permits in Paphos, where they were issued, fell by 8.5% on an annual basis. 785 in the first ten months of 2020, compared to 858 in the corresponding period.

Philenews / ΚΥΠΕ

Source: www.philenews.com

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