The Cyprus Statistical Service issued a report that indicate that building permits issued by the government declined by  6.4% in the first ten months of 2014 compared to the year before.

466 permits were issued by the municipal authorities and the district administration offices during October.

“The total value of these permits reached €74.1 million and the total area 70.1 thousand square metres. These building permits provide for the construction of 271 dwelling units. During the period January – October 2014, 4,180 building permits were issued, registering a decrease of 6.4% compared to the corresponding period of the previous year,” according to CNA, and “The total value of these permits decreased by 26.9% and the total area by 28.3%. Τhe number of dwelling units fell by 3.9%.”