NICOSIA Building permits in Cyprus for January - September 2012 reached 5.365, registering a decline of 6.7% year on year, figures released by the Statistical Service show.

In terms of value these permits, a leading indicator of future activity in the construction sector, decreased by 24.0% and the total area by 33.2%. Dwelling units recorded a decrease of 37.2%.

Furthermore, the number of building permits authorized by the municipal authorities and the district administration offices during September 2012 stood at 604. The total value of these permits reached €135,1 million and the total area 116,3 thousand square metres. These building permits provide for the construction of 491 dwelling units.