Dynamic Recovery in Construction Activity in April
Overview
The construction sector showed a dynamic recovery in April, with a significant increase in the number of permits issued compared to the same month in 2023. According to data from ELSTAT, a total of 2,823 permits were issued nationwide, corresponding to 612,905 square meters of surface area and 2,700,893 cubic meters of volume. This marked a 40.1% increase in the number of permits, a 38.6% increase in surface area, and a 29.9% increase in volume.
Private Construction Activity
Private construction activity accounted for 2,798 permits, representing 604,732 square meters of surface area and 2,565,475 cubic meters of volume. The number of permits increased by 40.3%, surface area by 39.4%, and volume by 30.2% compared to April 2023. This sector played a significant role in the overall recovery of the construction industry.
Construction Permits Issuance Suspended in Several Municipalities
Many construction companies rushed to obtain permits in order to avoid delays caused by legal disputes regarding the benefits of the new building code. As a result, several municipalities have now suspended the issuance of permits if these benefits are being utilized.
Increase in Construction Activity in the First Quarter of the Year
During the first quarter of this year (January – April), the overall construction activity in the country has increased by 41.5% in surface area and 27.3% in volume.
Construction Permits on the Rise in 2024
During the period of January-April 2024, there has been a significant increase in construction permits compared to the same period in 2023. The number of permits has increased by 41.8%, the surface area by 40.2%, and the volume by 26.8%. This indicates a positive trend in private construction activity.
Over the last twelve months, from May 2023 to April 2024, a total of 30,320 construction permits were issued. This shows a steady growth in construction projects and reflects a promising outlook for the construction sector in the coming months.
Construction Activity on the Rise
Recent data shows a significant increase in construction activity in the region, with a 17% rise in the number of building permits issued, an 18.8% increase in surface area, and an 18.8% growth in volume compared to the previous period from May 2022 to April 2023.
During the same time frame from May 2023 to April 2024, private construction activity saw a further uptick, with a 17.1% rise in building permits, a 19.6% increase in surface area, and a 19.4% growth in volume compared to the previous year. This trend indicates a positive outlook for the construction industry in the coming months.
