The construction of new apartment buildings, especially along the historic area, and in the seaside area, has made Vlora one of the most vibrant real estate markets for the past years.
However, this industry is facing a severe slowdown due to the COVID-19 pandemic, the same as many other businesses.
One of the sale agents confirms that this market has almost reached point zero in 2021, without selling a single apartment.
Albanian immigrants and foreigners, mainly Italians, used to bring most of the demand for apartments in Vlora’s touristic areas.
Real estate agents hope to see a revival after borders are reopened and free movement is allowed once again.