By Francisco Cortez

Many Balearic construction companies have remained open for business over the last two years only thanks to building renovation work.

Palma.—The demand for  building new properties has fallen over the last few years following the crisis that affected the industry, and around 85 percent of construction companies in the region have only managed to survive thanks to odd renovation and refurbishment work, according to the Balearic Construction Association (ACB).
“Renovation work on building fronts, private houses and shops have allowed the business to survive in 2012 and 2013, specially after the decline in promoting large scale property developments,” ACB president Manuel Gomez said yesterday.