Recently published research from Timetric, "Construction in Greece - Key Trends and Opportunities to 2017", is now available at Fast Market Research

Boston, MA -- (SBWire) -- 06/10/2013 --The Greek construction industry valued EUR10.7 billion (US$13.8 billion) in 2012, after declining at a CAGR of -19.32% over the review period (2008-2012). The industry is expected to grow at a CAGR of 0.39% over the forecast period (2012-2017). Infrastructure construction was the largest market, accounting for 44.1% of the industry's total value. The market declined at a CAGR of -14.78% during the review period to value EUR4.7 billion (US$6.1 billion) in 2012. The Greek government has a strong pipeline of rail transit projects nationwide, and in July 2010, the European Investment Bank announced a loan worth EUR2 billion to Greece to finance infrastructure construction.

Key Highlights

- The Greek construction industry valued EUR10.7 billion (US$13.8 billion) in 2012, after declining at a CAGR of -19.32% over the review period (2008-2012). The industry is expected to grow at a CAGR of 0.39% over the forecast period (2012-2017).
- Infrastructure construction was the largest market, accounting for 44.1% of the industry's total value. The market declined at a CAGR of -14.78% during the review period to value EUR4.7 billion (US$6.1 billion) in 2012. The Greek government has a strong pipeline of rail transit projects nationwide, and in July 2010, the European Investment Bank announced a loan worth EUR2 billion to Greece to finance infrastructure construction.
- Residential construction was the second-largest market in the construction industry, accounting for a 27.5% share of the industry's output in 2012. It was also one of the worst performing markets, declining at a CAGR of -22.48% during the review period to value EUR3 billion (US$3.8 billion) in 2012. Depressed economic conditions due to government austerity measures are making it difficult for households to repay housing debt. Prospective buyers, especially those looking to get onto the property ladder, are also finding it difficult to secure mortgages without being asked to pay huge deposits.
- The country's budget deficit stands above the prescribed limit of 3%, which has forced the government to implement austerity measures including major cuts in the country's health and education sectors.
- The Greek unemployment rate stood at 27% in November 2012 and the budget deficit reached 6.6% of GDP in the same year. The domestic demand for goods and services also decreased.
- The government has announced a plan to focus on new transport infrastructure projects in order to boost growth in economy.

View Full Report Details and Table of Contents

Scope

This report provides a comprehensive analysis of the construction industry in Greece:

- Historical (2008-2012) and forecast (2013-2017) valuations of the construction market in Greece using the construction output and value-add methods
- Segmentation by sector (commercial, industrial, infrastructure, institutional and residential) and by project type

Companies Mentioned in this Report: Ellaktor SA, LAMDA Development SA, Michaniki SA, J&P - Avax SA, METKA SA

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