Albania's building permits decline 27% y/y in Q4

As many as 232 permits were issued for the construction of residential buildings, INSTAT said in a quarterly report.

The approved permits covered projects with a total area of 592,660 square metres, a 6.6% increase from the same period in 2022.

The estimated value of approved construction projects decreased to 25.3 billion leks ($263 million/243 million euro) in the period under review, a drop from 26.6 billion in the fourth quarter of 2022.

The highest number of permits, 94, were issued for buildings in the capital Tirana, followed closely by 92 in the coastal city of Durres.

(1 euro = 104 Albanian leks)