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Construction output in Greece fell by 60%

13.12.2012
Homesoverseas.ru editorial office
43
According to the report of the Bank of Greece, the Greek construction sector experienced the largest decline in the volume of construction in September this year with the start of the crisis, thus demonstrating continued deterioration of the situation in the real estate market, reports Internet portal Ekathimerini.com Based on the number of building permits issued, the total construction output in September fell by 60.4%, compared to the same period last year. The steady decrease in the volume of construction is celebrated since 2007, the overall decline was about 75% compared to 2005-2006. Many construction companies do not sign new contracts because they want to reduce the stock of unsold apartments, of which there are about 180 000. This figure is several times higher than it was at the end of 2008. The report stresses that a large supply of unsold homes due to the fact that the decline in construction and the inflow of new investments directly related to a decrease in the number of transactions in the market. HomesOverseas.ru
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from 170 000 €
1 bedroom
build area 52 sq. m
sea/ocean view
garage
air conditioning
terrace
seller: RENTSALE
from 295 000 €
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build area 63 sq. m
household appliances
negotiable price
air conditioning
furniture
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274 000 €
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build area 58 sq. m
household appliances
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