Sales of apartments in Durr쳠scarce, prices drop by 10 to 15 %

The stock of unsold apartments is increasing not only in Tirana, the capital city, but also in other places such as the tourist city of Durr쳬 with a sea-port and tourist filled beaches, less than 40 kilometers from Tirana. In the pages of Telegraf (14.07.2009) Andrea Xhavara, head of the Chamber of Commerce and Industry of Durr쳬 estimates the number of unsold apartments to amount to 2000. This is a bad situation, considering that the construction sector is the locomotive which drives the development of the economy in the coastal town. Dependent on the construction sector are a lot of other industries like cement works, metal works, interior design, glass works and appliances.
Emigrants falling out of the market
Emigrants are less interested or are not actually able to acquire properties at home. The global downturn seems to have curbed their investing abilities and interests. Telegraf reports a decrease in sale prices, but asserts this has not been sufficient to draw in sales. Sales are very scarce and buyers are mainly interested in smaller properties. Prices have fallen 10 to 15 % declares Ever Burgija, owner of one of the oldest real estate agencies in town, but this has not produced noticeable interest.
Being a seaport city, Durr쳠is one of the cities whence a large number of migrants are from.