Albania Building Permits Rise in Q4, 2020

Albania Building Permits Rise in Q4, 2020

TIRANA, February 26

The number of newly issued permits for new buildings during the fourth quarter (Q4) of 2020 rose 51.5 percent, the Institute of Statistics (INSTAT) reported in its latest publication on Friday. Based on the data, the number of permits issued to construct new buildings in Q4 was 306. Further on, the floor area of the projects approved in Q4 was 554,325 square meters, or 2.3 times more compared to Q4 2019. Meanwhile, the approximate value of the new permits were estimated at Lek 28.9 billion or 2.5 times higher compared to in Q4 2019.

However, the report shows that the total number of new permits issued in 2020 rose by 12.2 percent compared to 2019, while the floor area declined by 20.5 percent. At the same time, the estimated value of the new permits declined from Lek 80.8 billion in 2019 to Lek 76.6 percent in 2020.
Capital city Tirana had the highest number of new construction permits over the 2020 quarters. The list continued with Durres, Elbasan, and Fier.

Read also: Real Estate in Albania

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Source: INSTAT

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