INSTAT: Booming construction permits in 2010
20/08/2011 08:10
State nurse is paid without going to work, instead sells drugs from the pharmaceutical warehouse with the support of the director in Bushat 18/04 21:24
2010 was considered a lucky year for the construction companies, except
for those in Tirana. INSTAT declared that during the last year,
municipalities and communes approved around 51% more construction
permits than during 2009, the period of the strong economic crisis.
The number of residence construction permits was 57% higher than during 2009. More specifically, 2298 construction permits were given, compared to 2321 during 2009, making 2010 as the year with most construction permits ever released.
The total investment cost, predicted as based on these permits, reaches 93.5 billion ALL (668 million EUR), while in 2009, the programmed investment value was 62 billion ALL.
INSTAT calculated the investment value by multiplying the surface of the buildings officially permitted, which is 200 Eurm2 in average. According to the institute of statistics, the biggest growth is for residential permits, a total of 77.5 billion ALL from 49.1 in 2009.
The Association of Construction Companies in Albania has complained in the last two years for slow sales due to the crisis. For the first time in the history of our country, thousands of apartments ended up unsold, when construction companies used to sell them before the construction was finished. Real estate prices have slightly decreased or have kept the same level as two years ago. Many of the apartments that were built before the crisis have remained unfinished, or the working pace has fallen significantly.
All these problems gave the impression that the demands for permits would decrease. INSTAT DATA report a drastic decrease of apartment and shop sales, not only during 2010 but also during 2011. This decrease has been noted also in bank mortgages.
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