Real estate development in Albania fell by 0.2% during the year

June 15, 2016

Real estate development in Albania fell by 0.2% during the year

In annual terms, the construction of real estate in Albania at the end of the 1Q of this year fell by 0.2%. Experts from INSTAT (National statistics Institute) indicate that this is the first time over the last 4 years.

INSTAT experts link the situation with fuel prices decline by 0.4 %. At the same moment building materials rose at 1.2%, and wages in all companies of Albania (including construction firms) increased on average by 1.6%. All this is happening against the backdrop of a gradual increase in the cost of the Albanian square meters. In the 1Q price growth was 11.3%.


Another trend is the increase in the share of foreign developers in the projects on commercial buildings construction. For example, Atlas Ward GmbH from Germany together with local company Kontakt build a large logistics center in Kasara, near Tirana.


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