| World and foreign property news | 17.06.2010 |
International property / World and foreign property news / Construction volume decreases in South Africa
Construction volume decreases in South Africa
Total value of buildings constructed in the country during January-April has plunged by 26.7%, year-on-year.
The decline was most pronounced in the segment of residential buildings – 33.2% year-on-year, AllAfrica.com reports citing official statistics.
In geographical terms, the indicator has plunged most significantly in Gauteng province. Over January-April, aggregative value of buildings constructed in Johannesburg, the largest South African city and administrative center of Gauteng province, has plummeted by 26.7% in annual terms.
During the specified period, total value of approved construction projects has decreased by 11.5%. In the segment of non-residential buildings the figure has plunged by 23.4%, while declining by 3.1% in the segment of housing construction.
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