The value of building permits spiked by an annual 46% in January – September 2018 to €1.55 billion owing to rise in large projects, according to data released on Tuesday by the Cyprus Statistical Service (Cystat), cna.org.cy reports.
The number of building permits issued in the period of January – September 2018 reached 4.702 marking an increase of 9.38% compared with 4.281 permits issued in the respective period of 2017.
According to Cystat, the biggest increase was recorded in the value of large project which spiked by 78% to €0.97 billion compared with €0.53 billion in the respective period of 2017. The number of permits for large projects rose by 61.4% to 394 while the area of these permits rose by 50% to 681.128 square metres.
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