Cyprus building permits up 14% in Jan-Feb - stats office

The number of building projects issued in Cyprus in January to February rose by 14% amidst a pick up in activity in the sector, according to the country's statistics service.

The Cyprus statistical service said that building permits authorized by municipal authorities and district administration offices in the two month period reached at 909, amounitng to 764 dwellings that amount 200 million euros. About two thirds of the total number of builing perimits relate to resdiential propoerty.

Building permits constitute a leading indicator of future activity in the construction sector.