Building activity down 25.2 pct in Jan-Aug

Building activity in the private sector dropped 24.8 pct in August, for a decline of 25.2 pct in the January-August period this year, with industry officials remaining pessimistic over the outlook of the sector. Private sector builders’ hopes are focusing on home restoration and co-funded programs to saving energy.

Hellenic Statistical Authority on Wednesday said building activity in the private sector totaled 2,697 building permits, down 5.2 pct from August 2009, while it was down 24.8 pct in volume over the same period. Eastern Macedonia-Thrace (-48 pct), Epirus (-41.5 pct), Attica (-39.6 pct), Western Greece (-38.8 pct), Crete (-35.5 pct), Central Greece (-35.2 pct) and Western Macedonia (-30.3 pct) suffered the heaviest percentage losses in building volume among the country’s regions, while only three regions scored gains in building volume, Southern Aegean (16 pct), Thessaly (11.7 pct) and the Peloponese (8.4 pct).

Private building activity fell 10.2 pct in building permits in the eight-month period, and by 25.2 pct in volume, compared with the same period in 2009. All regions suffered declines in building volume, with Attica (-35.9 pct), Central Greece (-33.5 pct), Western Greece (-25.4 pct) and Central Macedonia (-23.7 pct) recording the heaviest percentage losses.