Pandemic hits the real estate market – BoA: Sales fell by 37% especially on Tirana, citizens begin to rent
The latest survey of the Bank of Albania shows that Covid 19 has hit the real estate market hard, while the effects of the decline will be felt for the next two years. The survey was conducted in 230 construction companies and real estate trading agents, representing about 75% -80% of the total population.
According to the interviewed subjects, the general situation in the real estate market during the first half of this year was significantly more pessimistic compared to the previous half.
The net balance of responses was -54%, indicating that the number of agents who think that the situation has deteriorated during the first half of the year is greater than the number of those who think otherwise. The value of the net balance is the largest negative value recorded since the first year of the survey, while the average value of the net balance is about -20%. Compared to the previous six months, the responses by areas have balances with more negative values for the coastal area (-70%) and other areas (-62%), while for the Tirana area the balance of responses for the general situation was – 42%.
Agents, meanwhile, report increasing demand for rent, both for housing and commercial properties. In line with rising demand, agents report rising rental prices. The activity of renting and renting properties is concentrated in the region of the capital and especially in the center area.
*Material i përgatitur nga portali SCAN. Ripublikimi mund të bëhet vetëm kundrejt citimit të autorësisë dhe burimit origjinal.