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Tourism

Greece Construction Market to Expand in Real Terms by 2.3% in 2025

Strategic Insights

— 2 min read

The construction industry in Greece is expected to expand in real terms by 2.3% in 2025, driven by investments in transport and electricity infrastructure projects, as well as an increase in building permits issued. According to the Hellenic Statistical Authority (ELSTAT), the total number of building permits issued in the country grew by 14.8% year-on-year in the first eleven months of 2024. The average construction production index in Greece also rose by 20.1% year-on-year in 2024, following a 9.4% annual growth in 2023. The industry is expected to register an annual average growth of 3.4% from 2026 to 2029, supported by public and private sector investments in the residential and tourism sectors.

Key Takeaways:

  • The Greek construction industry is expected to grow by 2.3% in real terms in 2025, driven by investments in transport and electricity infrastructure projects.
  • The total number of building permits issued in Greece grew by 14.8% year-on-year in the first eleven months of 2024, with the total surface area of buildings for which permits were approved rising by 17.2% year-on-year.
  • The average construction production index in Greece grew by 20.1% year-on-year in 2024, following an overall annual growth of 9.4% in 2023.
  • The industry is expected to register an annual average growth of 3.4% from 2026 to 2029, supported by public and private sector investments in the residential and tourism sectors.
  • Three tourism projects worth EUR1.2 billion ($1.3 billion) were approved in March 2025, including luxury holiday villas in Evia, a luxury tourist resort in Ermioni, and a nautical and industrial port in Astakos.
  • The Greek construction industry is expected to be driven by public and private sector investments in the residential and tourism sectors, with a focus on developing luxury tourist infrastructure.

Statistics:

  • 2.3%: Real growth rate of the construction industry in Greece in 2025
  • 14.8%: Year-on-year growth in the total number of building permits issued in Greece in the first eleven months of 2024
  • 17.2%: Year-on-year growth in the total surface area of buildings for which permits were approved in Greece in the first eleven months of 2024
  • 20.1%: Year-on-year growth in the average construction production index in Greece in 2024
  • 9.4%: Overall annual growth of the construction industry in Greece in 2023
  • 3.4%: Annual average growth rate of the construction industry in Greece from 2026 to 2029
  • EUR1.2 billion ($1.3 billion): Total investment in three tourism projects approved in March 2025
  • EUR224 million ($244.1 million): Investment by GH Hotel and Tourism in luxury holiday villas in Evia
  • EUR474 million ($516.5 million): Investment by Hydra Rock Real Estate in a luxury tourist resort in Ermioni
  • EUR524 million ($570.9 million): Investment by Astakos Terminal International Commerce and Services in a nautical and industrial port in Astakos

Sources:

  • ResearchAndMarkets.com
  • ELSTAT (Hellenic Statistical Authority)

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