23.10.2008 - Cyprus property developers appear to shift strategy
From Financialmirror.com: The number of building permits authorised in Cyprus fell for the 11th straight month in August, but the value of permits authorised was up. The total number of permits was 504, 9.7% lower than August 2007. Building permits in January - August 2008 fell by 12.7% compared with the same period of 2007, to 5,613. A different pattern was seen in terms of value, however. The total value of permits in August reached EUR 151.3 mln. This was 1.5% higher than in August 2007 and was the third consecutive month of increase..... Full Article: Source
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