TIRANA, Sept 22 /ATA/ – Bank lending to the construction sector in Albania rose 38% year-on-year to 22..7 billion lek during the first seven months, data from the Central Bank showed on Thursday.
Total value of the loan portfolio for the construction industry amounted to 70.4 billion lek in the end of July, recording an annual growth by around 30%.
Experts say that bank lending to construction has increased to respond growth of construction, real estate sector in Tirana and in the country’s coastal cities in particular.
Data from the National Institute of Statistics, INSTAT, show that the value of the construction permits issued in the first half of the year was estimated at around 60 billion lek, up by 54% compared to the same period of the previous year.
Central bank said in its latest report that the home and real estate prices was up by 9% last year.
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