TIRANA, March 29 Foreign Direct Investments (FDI) to Albania in 2020 were down 13 percent to an estimated Euro 933 million, according to data issued by the Bank of Albania (BoA). However, BoA says that the contraction in FDI flows was moderate despite the global health crisis. The Trans Adriatic Pipeline (TAP) project helped to...
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...
TIRANA, February 16 ‘Mandarin is the future’ was the motto of Konispoli farmers, who created the largest mandarin plantation in Albania over the last decade. Known for a borne sense for business, hard-working culture, and dedication to high-quality products, it’s no wonder that the Cham farmers are so successful. International trade data show that their...
TIRANA, September 30 Albania’s Gross Domestic Product (GDP) fell at a rate of 10.2 percent during the second quarter of 2020, the Institute of Statistics confirmed on Wednesday. The significant drop in outputs reflected the worst-hit period by the pandemic lockdown, travel restriction, and prevention measures to prevent the spared of the virus. Data from...
TIRANA, February 28 Residential buildings account for the major number of new permits issued in 2019 in Albania, while the number of permits for office buildings and industrial parks was zero. The number of construction permits issued during 2019 was 1,044 or 13 percent less compared to 2018, the Institute of Statistics confirmed on...
TIRANA, February 4 All the citizens, physical and legal persons, who own a real-property in Albania are granted the right to evaluate it until September by paying a reduced rate instead of the 15 percent on the real-property capital gain. The law no. 90/2019 ‘On revaluation of real property’ was published on the Official Gazette,...
TIRANA, January 27 Albanian authorities plan to adopt an amendment to the tax regime for foreign pensioners. The goal is to attract all those retired foreigners, who are eying for sunny places and friendlier tax regimes. According to Top Channel, the draft initiated by the office of the Minister of State for Diaspora was submitted...
TIRANA, December 16 Starting in 2020, any transfer of property to family members under a gift will not be considered as a taxable transfer. This amendment proposed by the ruling majority lawmaker Evis Kushi was adopted by the Parliamentary Committee of Finance and Economy, will enter into force when voted by the Parliament. The committee...
TIRANA, November Building permit activity in Albania increased by 48.4 percent over the period 2016-2018 with a total floor area of 1,442,783 square meters. The official data on the construction sector in the country were unveiled on Friday by the Institute of Statistics (INSTAT) on the regional statistical yearbook. According to the statistics on this...
TIRANA, October 14 Properties got harder to sell during 2019. The data was confirmed by a survey conducted by the Bank of Albania (BoA) with residential and commercial contractors and real estate brokers. According to the respondents in Tirana, the average time to sell a property in the capital city during the first half of...