The deep economic recession that Greece suffers from in conjunction with the strict fiscal policy, had a negative impact in building activity which records a constant decline since the crisis outburst.
According to a survey conducted by Infobank Hellastast S.A, the Greek building activity compared to last year has fallen.
Another factor that has a negative impact on the construction industry is that the Greek banks cannot grant many housing loans, as well as the fact that the taxation of real estate has increased.
From the survey’s data it can be deduced that the construction activity in Greece has been falling constantly since 2005. In particular, the building activity in 2012 has fallen by 76 percent in permits compared to the building activity of 2005.
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