Building activity in Greece continues to crumble

The drop in the February figures for surface and volume was less pronounced at -15.1 and -5.9 percent respectively.

The number of building permits remained below the 1,000-mark for the second successive month, leading the two-month figure down 28.5 percent. Similarly, surface and volume fell by 28.4 and 25.6 percent respectively in the first two months of 2014.

The aggregate figures over the trailing 12 months, which smooth out the monthly fluctuations, indicate a decline of 24.8 percent in building permits, 25.6 percent in surface and 23 percent in volume.

The highest drop in building activity was recorded in Epirus and the Ionian Islands at 35.6 and 34.5 percent respectively, more than 10 percentage points greater than the country average. Building activity in absolute numbers is among the lowest in the country in these two prefectures.
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*Photo: Hellenic Statistical Authority.

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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.

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