Building volume in Greece falls 24.3% in July, with Attica down 32.8%

The decline was more pronounced in Attica, where building volume contracted by 32.8%, while the floor area covered by building permits decreased by 24.3%.

According to data released by the Hellenic Statistical Authority (ELSTAT), a total of 2,873 building permits were issued in July, compared with 3,134 in the same month of 2025, representing a decrease of 8.3%.

The permits covered a total floor area of 623,858 sq m and a building volume of 2.69 million cubic metres, representing annual declines of 15% and 24.3%, respectively. These figures point to a shift in the scale of projects being authorised.

Attica Loses One-Third of Its Building Volume

The slowdown is particularly pronounced in Attica, Greece’s largest real estate market. A total of 681 building permits were issued in the region in July, compared with 769 in the corresponding month of 2025, marking an 11.4% decrease.

The contraction in private construction activity in Attica was even more significant, with building volume falling by 35.9% and permitted floor area declining by 27.4%. This development is particularly important for the housing market, given that Attica accounts for a substantial share of demand for newly built properties.

Crete and the North Aegean Record Growth

In contrast to Attica, Crete recorded a significant increase in construction activity.

Despite a modest 2.1% decline in the number of permits issued, total permitted floor area rose by 47.1% to 68,897 sq m, while building volume increased by 47.2%.

An even stronger percentage increase was recorded in the North Aegean, where permitted floor area rose by 90.8% and building volume surged by 118.4%, despite a 6.2% decrease in the number of permits.

By contrast, substantial declines were recorded in Central Greece, where building volume fell by 75.9%; Western Macedonia, with a 74.7% decrease; and Thessaly, where it declined by 50.6%.

In Central Macedonia, the number of permits remained broadly unchanged, while building volume fell by 25.4%.

These pronounced regional differences highlight the uneven trajectory of construction activity across Greece, which can be significantly influenced by the permitting of individual large-scale projects.

A Different Picture Emerges Over the 12-Month Period

Despite July’s sharp decline, data for the latest 12-month period continue to indicate positive momentum.

Between August 2025 and July 2026, a total of 31,446 building permits were issued, representing an increase of 7.9% compared with the preceding 12-month period.

Total permitted floor area reached 7.21 million sq m, up 10.6%, while building volume amounted to 34.07 million cubic metres, an increase of 14.1%.

In Attica, the number of permits rose by 7.2% over the 12-month period, while permitted floor area increased by 12.4% and building volume by 14.8%.

Growth was even stronger in Crete, where permitted floor area expanded by 27.1% and building volume increased by 28.3%.

In Central Macedonia, building volume also rose by 28.3%, despite a relatively modest 2.8% increase in the number of permits issued.

The divergence between positive 12-month performance and the sharp monthly contraction suggests that the market is entering a period of heightened uncertainty regarding the short-term outlook for new building permits.