The decline is what always follows a growth cycle. But this has not arrived yet for real estate builders, due to the increasing demands for new houses, even during the pandemic crisis.
The General Secretary of the Albanian Builders Association, Arben Dervishi, declared that there has been a boom of permits during this year.
According to him, the market is not showing any signs of saturation, since most of the permits are for hotels, warehouses, and industrial premises. The construction of residential buildings, however, remains stable.
“The growth hasn’t been everywhere. The trend can be seen in Tirana, Durres, and coastal areas. We need to be vigilant against oversupply, but this is not the case at the moment. The reasons are that after the pandemic and the earthquake, people are looking for safer apartments”, declared Arben Dervishi, the General Secretary of the Albanian Builders Association.
The boom of the construction industry started after the November 26th earthquake, but the pandemic gave it a greater chance, allowing it to absorb many skilled workers who couldn’t travel abroad, due to restrictions. However, while the high demand for specialists continues, there is a shortage.