Building activity declines 28 pct in a year

Greek public and private building activity, measured by the number of permits issued, fell 28 percent in April from a year earlier compared with a 9.6 percent drop in March, the Hellenic Statistical Authority (ELSTAT) said on Monday.

The number of permits fell to 2,009.

The surface area of planned buildings dropped 21 percent to 390,500 square meters and their volume fell 27 percent to 1.38 million cubic meters, the agency said in a statement on its website.

Construction slowed most in the western Ionian Islands, a popular location for holiday homes, and dropped almost 44 percent in Athens and its metropolitan area.

Private building nationwide fell 28.3 percent in April. Demand in Greece for cement is expected to mark a “further substantial decline” in 2012 given the low rate of building activity, Titan Cement Co SA, the country’s largest producer of the building material, said in May.

[Bloomberg] - 

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