According to the expectations of entrepreneurs in the construction sector, the rise in price of apartments will continue in the coming months.
In the business survey conducted regularly with enterprises by the Bank of Albania, construction entities were asked about their price expectations, reports Monitor.al . Referring to the answers, the vast majority think that prices will rise.
Contacted by Monitor.al, the builders gave as the main reason for the increase in prices the significant increase of raw materials. Arben Dervishi, secretary of the Builders Association said that “Construction costs have become more expensive due to rising prices of construction materials. The biggest increase has been for iron by 80 to 90% over the years. Costs for iron have increased by 30 to 40 euros per square meter of construction. There is also an increase in prices for other building materials, such as concrete, cement, aluminum doors and windows. "There has also been a rise in prices for materials used for electrical installations."
Dervishi said that the construction cost for the apartments in the suburbs has reached 600 euros / m2 from the previous 400 euros, due to the increase in the price of raw materials.
In the first quarter of 2022, average prices are estimated at 1,143 euros / m2, an increase of 3.2% compared to the end of last year. In the area within the ring road in the capital, prices are reaching an average of 1,300 euros / m2. In the Block area, prices have exceeded 1,600 euros / m2. Even outside the Ring area, on average an apartment costs about 1,000 euros / m2.
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