The real estate industry is a vital sector in Albania’s economy, driven by significant factors that make it attractive for investment and development. Expert Arsid Rraboshta explains several key reasons why the real estate industry is important in Albania.
Growth in the Construction Sector
“Since the early 2000s, there has been a noticeable increase in the construction sector in Albania, with a rise in the number of new buildings and significant investments in various projects,” Rraboshta explains.
Improvement in Infrastructure
“Investments in infrastructure, such as roads, bridges, and urban infrastructure, have helped increase property prices and made cities more attractive to buyers and investors,” he emphasizes.
Rise in Tourism
“The tourism sector is one of the main drivers of the real estate market in coastal and other tourist cities in Albania. This has increased the demand for accommodation and other benefits related to the real estate industry,” says expert Arsid Rraboshta.
Foreign Investments
In recent years, Albania has made efforts to attract foreign investments in the real estate sector by offering fiscal and other incentives to foreign investors.
Impact of the Domestic Market
The demand for housing and business premises in major cities like Tirana, Durrës, Vlora, and Saranda has been stable and growing, particularly due to population growth and urbanization.
Easing of Registration Procedures
New regulations and improvements in administrative processes for property registration have facilitated the procedures for buying and selling real estate in the country.
“Ultimately, the real estate industry in Albania has significant potential for future growth and development, being one of the key sectors of the country’s economy that contributes to GDP growth and employment,” Rraboshta concludes.
