The Albanian economy is most dependent on the construction sector. In 2022, the added value of construction in Gross Domestic Product (GDP) was 12%, twice as high as the average in Southeast European countries. Kosovo follows closely behind with nearly 11%.
These data are presented by the Central Bank of Austria in an analysis of the real estate market in the southeast.
According to the institution, Albania tops the ranking for investment in housing, accounting for 12% of GDP, indicating that they are seen as a form of investment with quick returns.
But what funds the real estate market in Albania?
The Austrian institution notes that the credit taken for home purchases is nearly four times lower than in Southeast European countries. The Austrian Bank observes that a significant source of financing is precisely the money from emigrants.
As for prices, Albania has the strongest growth since 2019, with a 90% increase according to the Fischer index of the Bank of Albania. In Serbia, the growth was 58%, while in North Macedonia, it was around 40%.
