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High prices scare even foreigners, the number of investments in properties on the coast falls

2023-06-27 11:34:04Biznes SHKRUAR NGA REDAKSIA VOX
High prices scare even foreigners, the number of investments in properties on
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The tightening of real estate throughout the last year in our country has reduced the flow of foreigners to properties in Albania.

The Bank of Albania says that in the first three months of this year, foreigners bought properties with a total value of almost 50 million euros.

The figure shows a 25 percent decrease in the value of the flow of foreigners who bought properties in Albania compared to the first 3 months of last year, when their investments in properties amounted to 67 million euros.

The real estate sector is one of the main items of foreign direct investment in our country and in one of the last press conferences, the governor Gent Sejko described it as one of the main factors of the record devaluation of the euro against the lek.

The properties where foreigners invest the most are those on the coast and in Tirana. In these areas, since the start of the war in Ukraine, there has been an increase of almost 40 percent in prices.

Unlike properties, financial activities attracted foreign investments twice as much as the first quarter of last year, approaching the figure of 60 million euros.


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