ECONOMY

Construction goes up in December

construction-goes-up-in-december

Construction activity enjoyed major growth over 2019, in spite of some fluctuations that were to be expected due to the market’s low starting point. According to figures published by the Hellenic Statistical Authority (ELSTAT) on Thursday, last year’s private construction activity showed permits rising at an annual rate of 13.3 percent, surface area increasing by 9.2 percent and volume by 9.8 percent.

A surge in growth was recorded in the last month of the year, data showed: Permits rose 51.7 percent from December 2018, surface area increased 49.9 percent and volume expanded by 46.8 percent.

That jump in December was quite predictable due to the decline recorded in October and November owing to the uncertainty on the waiving of value-added tax for new buildings. Clarifications sent activity soaring in December.

In Attica, for the whole of 2019, private construction activity amounted to 3,625 new building licenses, accounting for 955,800 square meters and 4.3 million cubic meters. This translated into annual growth of 18.1 percent for licenses, 39.7 percent for surface area and 27.2 percent for volume.