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Shkruar nga Pamfleti
Less is being built in Albania. After the construction boom in the last two years in Tirana and coastal cities, the first half of the year is showing signs of slowing down. According to BSH's June business confidence survey, the construction sector is not optimistic.
The construction businesses in the survey show that this year they expect the number of ordering contracts to decrease, this will also affect the decrease in the price of apartments. Real estate agents say that properties costing 1,500 euros per square meter are being bought less and less.
This price is too high for Albanian families, for this reason the demand for apartments located on the outskirts of Tirana increased, where the price per square meter went from 1000 to 1200 square meters. Another factor that has restrained the request is related to SPAK's investigations. According to real estate agents, buyers with regular income are reluctant to buy in buildings whose builders may be subject to SPAK.
While Albanians are buying less property, on the other hand, it is foreigners who are buying property in the coastal areas of our country.
The latest data from the Bank of Albania revealed that during the first quarter of 2024, incoming foreign exchange flows in the form of foreign direct investments were mainly concentrated in real estate, to the extent of 23%. In terms of value, foreign investments in real estate were around 84 million euros in the first quarter with a 40% increase.
In 2023, according to INSTAT, real estate transactions reached 137 billion ALL, or about 1.3 billion euros. This is the highest level of sales ever recorded. / Top channel
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