Construction finally on the up in Paris

The construction industry in Paris can breathe a small sigh of relief. Nominations for new housing starts rose 5.5% in late February after 0.9% in late January.

Such a rise is being heralded as a sign that the sector has turned a corner from the slow growth spurned from the Eurozone sentiments of yesteryear.

In late January, the increase was only 0.9%, according to figures released by the Ministry of Housing. On their side the building permits granted for new homes posted a strong rebound of 18% year on year to 102,300 over the same three months.

This positive trend is being welcomed across the market, with multiple property apartment buildings representing 53% of the permits issued.