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Real Estate Market in Albania
AII Data Processing, April 2011, Pages: 13
The recently booming Albanian real estate market, mainly propelled by low prices, strong demand and high yields, faced a slowdown in 2009 and the beginning of 2010 due to the effect of the global economic crisis and the restrictive regime for the issuing of building permits in the capital Tirana.
In 2010 the market revived, driven by the residential sector and the efforts of government to attract foreign investors. The office and retail real estate markets however experienced a standstill with a lack of new supply and a fall in rental rates.
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