The bottom is falling out of the market of new flats in Durr쳠seashore

Durr촩, June 3 – Everywhere along the Durr촩 beach, you can see For Sale signs. However, builders and real estate dealers are complaining that buyers are few and far between. The price per square meter of construction for new flats built in this area has never been so low. It is believed that uncontrolled and unregulated construction has turned the five miles long beach into a densely built-up area. The builders have now been forced to low their prices as they try to outbid each other. The noise, lack of clean premises, and the lack of a stable power supply and running water, is forcing many families to abandon their flats and they are trying to sell their flats at a sacrifice. For the moment, the price per square meter is around Euro 300, while commercial property currently costs 650 to 700 Euro per square meter. According to the real estate agents, even at these prices, there are at least 1,000 new flats lingering in the market.
On the contrary, the price of new flats in Durr쳠is almost two times higher than at the beach. In Durr쳬 you must pay at least Euro 550 per square meter for a new flat, and Euro 1,200 to Euro 2,000 per square meter for a new office or shop. The reason is that many new families want to live close to the centre of the town. Also, the municipality of Durr쳠has issued fewer construction licenses during the past two to three years. (Tirana Times Staff)