A sustained increase in demand in building permits will help Cypriot banks to improve their asset quality in the real estate sector, rating agency Moody’s says, as building permits in Cyprus reach a new high since the 2013 banking crisis.
The Statistical Service of Cyprus published data showing that the number of building permits issued in the country during the first four months of 2017 reached their highest level since the 2013 banking crisis.
According to Moody’s, in the first four months of 2017, 1,861 building permits were issued, 8% more than the year-earlier period.
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Photo Source: Wikimedia Commons Copyright: Michael W. Pendergrass License: CC-BY-SA
Source: CNA
