Construction keeps falling

The slowdown in building activity became even more acute in June, as the economic crisis has not only seen a huge drop in home construction in urban areas, but also in holiday resorts.

Hellenic Statistical Authority (ELSTAT) data show that there were just 1,962 construction permits issued in the whole of Greece, which was 41.8 percent less than a year earlier.

They accounted for 299,500 square meters of surface area, a reduction of 42.9 percent over June 2011, and 1,111,100 cubic meters in volume, or 40.6 percent less than the previous June.

In the 12 months to June 2012, the yearly decline in permits amounted to 19.7 percent compared to the previous 12-month period, illustrating that the building sector is going from bad to worse.

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