6 hours agoKosovo real estate market paradox built without stopping, but who can buy?
Periskopi(a year ago)
(a year ago)In Kosovo, according to the Statistics Agency, there are a total of 581 thousand and 95 residences. Of them 356 thousand and 959 are inhabited by one or more inhabitants, while 207 thousand and 165 residences or 35.7 percent are uninhabited, including those destined for sale, rent or other uses. However, [...]
However, new housing construction is continuing with high intensity, while prices per square metre are increasing steadily.
At the centre of Kosovo's capital, housing prices per square metre range from 2,000 to 2 thousand and 300 euros. In neighbourhoods such as Aktas, the Mihraman Quarter, the Sun Coast, or Arberi, prices per square metre range from 1,000 and 500 euros to a thousand and 635 euros.
Meanwhile, the cheapest prices per square metre between 1,000 and 1,000 euros are in neighbourhoods like New Pristina, Matti 1 or A Street.
Something cheaper in terms of prices per square metre performs the second largest city in Kosovo, Prizreni c. 80km from Pristina, ranging from 800 to 500 euros per square metre, depending on the location.
But, according to the head of the Association of Kosovo Builders, Faton Hoxha, in Kosovo the price per square meter is free compared to the countries in the region, instead of the fact that land prices, materials, and to some extent the pay of workers is more expensive in the region.
“As long as there is demand for new housing is normal for construction not to be stopped, the price is determined by many factors, not the amount of housing”, it says for Albanian Post, broadcast Periscope.
Hoxha, among other things, says the diaspora, based on last year's Central Bank data, are the top buyers in the country.
According to Kosovo Central Bank data, the diaspora takes first place in terms of foreign investments that are made mainly in real estate.
Of over 856m euros in foreign investment last year, over 647m were invested in the real estate sector.
On the other hand, Burim Halili, from Access Real Estate, estimates that the price of the square meter in Kosovo can hardly be cut.
The price for square metre is currently on the rise and is expected to continue”, he tells the Albanian Post.
In its assessment, the price of dwellings is affordable to a certain degree for a layer of society and not too close to the center.
“Centre is difficult to reach for those who do not have good material conditions”, he points out.
The unemployment rate in Kosovo is over 10 percent, while among young people between 15 and 24 is almost 20 percent.
Kosovo remains extremely dependent on imports of goods, but also on remittances, whose value amounts to over 1 billion euros annually. /Periscope
