Ιn June alone, the construction area of projects which acquired a building permit was 79,809 square meters and their value was €83.6m, Cystat said in a statement on its website on Wednesday.

The area of non-housing projects that secured a licence from local authorities in the first six months of the year rose 7.4% to 95.820 square meters compared with the respective period of 2016, while their value rose 0.6% to €108.2m, Cystat said.

The overall construction area of new projects rose 31% to 597,134 square meters and their value rose 34% to €655.3m, Cystat said citing building permit data issued by local authorities.

The building permits issued in the first half of the year show a 25% annual increase in the number of detached houses to 1,144, 59% increase to 1,126 of buildings with two or more housing units, including a 57% rise in the number of houses with two apartments and 86% increase in the number of residential apartment blocks to 675, Cystat said.

Building permits data are an important leading economic indicator.

Source:Cyprus Mail