Construction permits slow down

TIRANA, July 23 – After a record 210 permits in the final quarter of 2013, the number of construction permits in the first quarter of 2014 dropped to 58, with the overwhelming majority in Tirana and Vlora, according to INSTAT data. However, the number of construction permits rose by 18 compared to the first quarter of 2013.
Dealing with construction permits ranks Albania with the worst global performance, 185th along with Eritrea. Albania and Eritrea are both “no practice” economies with barriers preventing private builders from legally obtaining a building permit, according to Doing Business 2013.
Latest INSTAT data shows the long-ailing construction sector, once the key driver of the Albanian economy but suffering since the outbreak of the global crisis in 2008, shrank 5.3 percent year-on-year and was down by 4.5 percent compared to the final quarter of 2013.