Greece’s Construction Sector on the Rise: Building Material Prices & Permit Trends in 2024-2025
Highlights of the Results from the Hellenic Statistical Authority
4.4% increase was recorded in the prices of building materials in January 2025 and
6.5% increase in the number of building permits for the 2024
14.9% increase in the Total Building Activity (private-public) in Greece
The Greek construction sector continues to show strong growth, with rising building activity and material costs shaping the industry landscape. The latest data from the Hellenic Statistical Authority (ELSTAT) highlights key trends in building material prices, construction permits, and total building activity across Greece.
Building Material Prices: A 4.4% Increase in January 2025
According to ELSTAT, building material prices rose by 4.4% in January 2025 compared to the same period in 2024. Notably, diesel fuel was the only material to record a price decrease (-2%), while several essential construction materials saw significant price increases:
Radiators (+9.6%)
Plastic pipes (+9.3%)
Copper pipes (+8.4%)
Bricks (+7.6%)
Electricity & Switches (+5.9%)
Plastic, synthetic, fiber cement pipes (+5.6%)
Ready-mixed concrete (+5.2%)
Floor and wall tiles (+5.2%)
Parquet flooring (+4.6%)
Cement & Aluminum frames (+4.5%)
Reinforcing iron (+1.5%)
This increase comes after a 6% rise in construction material costs in January 2024 compared to January 2023, signaling continued inflationary pressure on the sector.
Construction Permit Activity: A Dynamic Market
November 2024 Trends
In November 2024, 2,649 building permits were issued across Greece, marking a 6.4% increase compared to November 2023. This corresponds to:
595,635 m² of surface area (-5.7%)
2,573,852 m³ of total volume (-20.2%)
While the number of permits increased, the surface area and total volume decreased, indicating a shift towards smaller-scale projects.
Private vs. Public Sector Activity
Private Building Permits: 2,630 (+6.5%)
Public Building Permits: 19 (accounting for just 1% of total construction volume)
This data reflects strong private sector activity, with public projects playing a smaller role in the overall market.
Annual Construction Activity (December 2023 – November 2024)
Over the last 12 months, Total Building Activity (private-public) increased by:
+13.5% in permits issued
+14.7% in total surface area
+8.6% in total construction volume
Meanwhile, Private Building Activity saw:
+13.5% increase in permits
+14.3% increase in surface area
+7.6% increase in total volume
Public Building Activity accounted for just 3.2% of total construction volume, reinforcing the dominant role of private investment.
Year-to-Date Growth (January – November 2024 vs. January – November 2023)
The Greek construction sector has continued its upward trajectory throughout 2024:
Total Building Activity:
📈 +14.9% permits | 📏 +17.3% surface area | 📊 +11.1% volumePrivate Building Activity:
🏗️ +14.8% permits | 🔨 +17.2% surface area | 📌 +10.2% volume
This double-digit growth highlights the sector’s resilience and attractiveness for investors, despite rising costs.
Key Takeaways for Investors & Developers
✔️ The rising cost of construction materials is impacting project budgets, making cost-efficient sourcing and planning more critical than ever.
✔️ Private construction activity remains strong, driving the overall market growth.
✔️ While the number of building permits is increasing, project sizes are shrinking, indicating a focus on smaller-scale developments.
✔️ Public sector activity remains limited, with private investments leading the market.
📢 What’s Next for the Market?
As Greece continues to experience strong real estate and infrastructure growth, these trends suggest opportunities for investors, developers, and suppliers. However, careful budgeting and strategic planning will be essential to navigate rising material costs.
Official Announcement from ELSTAT
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