Croatia's construction sector has finally hit bottom and a mild recovery is expected in the coming period, according to a Raiffeisenbank Austria analysis.
According to data by the national statistical office, 698 construction permits were issued in April 2016, up 22% on the month and 26.2% on the year. The number of permits issued for buildings rose 21.9% on the month and 24.4% on the year. The number of permits issued for other structures rose 22.4% on the month and 34% on the year.
The value of construction works for which permits were issued in April 2016 was estimated at HRK 1.5 billion, down 10% on the month. Over 67% of those works referred to buildings and 32.8% to other structures.
Over four months in 2016, 2,291 construction permits were issued, up 17.1% on the year, RBA said. The estimated value of those construction works totalled HRK 5.67 billion, down 21.1% from the first four months of 2015.