Construction permits doubled in Q1 2018

The number of construction permits grew at rapid rates even in the first quarter of 2018. According to data from the Institute of Statistics, during the three-month period were granted 221 construction permits, up 119% compared to the same period of the previous year. Last year, the number of construction permits increased by 80% compared to 2016. For more than two years, construction permits are growing at rapid rates. This time coincides roughly with the lifting of the moratorium on issuing new permits and the introduction of the online permit system. The moratorium, but also the gradual improvement of the economy have added the need for new constructions. Construction permits this year are less concentrated in residential buildings. According to Instat, approved permits for residential buildings accounted for 57% of the total number of permits, from 75% that was their share in the same quarter of the previous year. During the first quarter, about 43% of new construction permits were granted for commercial and industrial constructions, which is evidenced by high investment rates in the immovable property market. However, based on the value calculated according to the permits, the first quarter of this year experienced a slight decrease compared to the previous year. The approximate value of the constructions for which the permits have been approved is about All 10.2 billion, from ALL 11.1 billion that had been in the first quarter of last year. The districts with the highest number of new constructions in the first quarter were Tirana and Fier. In Tirana were issued 65 permits or about 30% of the total.

Source: Scan TV