BOUNCING BACK

BOUNCING BACK

There is evidence of growth in building construction It is recorded that the number new homes being built on the island during the second month of 2015 and, the number of building permits approved for homes increased over the second month of 2014.

Approved permits issued in February 2015 was 401 compared with the 409 issued in February 2014; a drop of 2 per cent, according to figures released yesterday by the Statistical Service of Cyprus. Compared with 2014, the total area of these permits increased by 26% to 97,685 square meters from 77,633, the value increased 6% to €108.9 million from €102.9 million. During this period, building permits were issued for: Homes – 270 shops, factories etc – 82 permits Civil engineering projects – 14 permits Division of plots of land – 24 permits for roads – 11 permits

New homes 270 permits approved in February provided for the construction of 384 new homes comprising 123 single houses and 261 multiple housing units (such as apartments, semis, townhouses and other residential complexes). Increase of 68% compared with January 2014 when building permits were issued for the construction of 229 new homes.