The slump in Portugal’s construction sector is deeper now than it was last year.
Data compiled by Eurostat show that construction was down every month over the last year save for a brief respite in the spring when it rallied by just 1.1%.
Portugal suffered a -5.7% drop in construction, which includes both building and civil engineering projects, for the year. This was the greatest fall in any of the eurozone states.
Italy experienced the second largest drop, -4.3% for the year while Spain, on the other hand, saw construction rise over the year by 14% - the eurozone’s largest increase.
Across the euro region as a whole construction grew by an average 1.4% for the year to October. The increase was due entirely to more building projects, as civil engineering works were down.
But everywhere this was against a backdrop of an almost constant slide down from the peak in October 2006.
The lowest point was in April 2013 following which there has at least been some upward momentum but far, far behind the 2006 high.
Comments
That we are just here to renovate or grow Portugal's housing sector. Then go ...
Almost everywhere in Portugal we will find properties and often to our mistake buy, that are just one course of bricks - Single skin houses. No insulation.
Many hundreds of thousands clearly thrown up, as their papers show, during a boom soon after Portugal entered the EU. Thrown up to avoid the forthcoming (in theory) tightening of building regulations. Totally mediocre design .... just boxes with no design flair at all.
Alleged as so often the transition to EU standards never happened. So bodging continued.
This is a link to a current discussion on insulating our house walls that so many of us must one day do. To improve Portugal's housing - finish doing something that would have been the law in a more developed country.
http://www.expatforum.com/expats/portugal-expat-forum-expats-living-portugal/616674-single-skin-houses-insulation.html
Particularly useful being the differences between a 'builder' who is licensed to just change a tap washer, one who can do structural changes to a house and lastly those able to build housing estates. The two latter paying increasing and substantial sums annually to keep their licences - so, in lean times, surrendering that licence and claiming to be 'trading down'.
So confusing us with the builders 'renting' from the higher licence holder - and us paying the 25% or more for this rental.
Without then the correct insurances?
All in full view of the municipal inspector who has trousered his bung to overlook this illegality.