TIRANA, April 30 /ATA/ Investments in the construction sector and public works have driven up prices in the real estate market in the second half of last year.
The Bank of Albania announces that the house price index in our country increased by 6.2% compared to the previous six months and by 11.3% compared to the corresponding period of the previous year.
In Tirana, prices increased by 2.3% on a semi-annual basis and 8.9% on an annual basis. The BoA survey confirms the perception that immovable property prices continue to go up, despite the strong shock to the economy triggered by the pandemic.
On the demand side, the survey showed that the demand from households for the purchase of housing has grown dynamically, driven by soft loans for purchase of real estate extended by second-level banks.
The stock of loans for real estate investments by households reached ALL 127.4 billion at the end of 2020 and was about 9% higher compared to a year ago.
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