The total value of these permits increased 20.9% from €1.6 billion to €1.9 billion and the total area covered by 17.1%. The number of homes provided for also increased 23.5% to 5,697 from 4,614. Building permits constitute a leading indicator of future activity in the construction sector. The biggest rise in permits over the 11-month period was a 97.6% spike in the Famagusta district, followed by Nicosia with an increase of 31.1%. However, this was offset by a decrease of 6.4% in Paphos and a 1.2% decline for Limassol – two regions which are the main drivers of the home-building industry. The number of building permits authorised by local authorities during November alone stood at 597. The total value of these permits reached €156.6 million, covering a total area of 151,500 square metres. These building permits provide for the construction of 580 housing units. Source: Financial Mirror