Despite the crisis, late last year Croatia’s building industry started to recover from the shock generated by a drop in building permits issued and construction output.Thus, the year 2008 should end with stagnation in permits issued and a HRK 3-billion increase in construction output.

According to the latest data by the Central Bureau of Statistics (Crostat), 1,147 building permits were issued in November last year, as much as 13.6 percent more compared with November 2007, while the value of work based on permits was lower – HRK 2.12 billion compared with 3.86 billion in November 2007.

Comparative data for the first eleven months of 2008 and 2007 show that the building industry started to recover in July.At the end of November, the number of permits issued was “only” 6 percent down year-on-year, while the value of construction work rose 3 billion to HRK 31.75 billion.

At the same time, Eurostat reports that Croatia has one of the lowest costs of building among 37 European countries.