ECONOMY

Construction activity expands significantly in the first five months of 2020

Construction activity expands significantly in the first five months of 2020

Construction activity, both public and private, in terms of the number of building permits issued, rose 16.1% in the first five months of the year, according to data released Wednesday by the Hellenic Statistical Authority (ELSTAT) as part of its monthly Building Activity Survey.

Construction also posted a 25% increase in surface area and a 25% increase in volume compared with the corresponding period in 2019.

According to sector professionals, construction activity was driven by strong demand from foreigners, who the government is appealing to to shift their tax base to Greece, provided they invest a minimum of €250,000.

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