Post by account_disabled on Jan 24, 2024 2:40:42 GMT -5
The sad thing about vacations is that no matter how much fun you have, they have to come to an end. Just consider that demand for vacation homes has fallen below its pre-pandemic baseline for the first time in two years. High house prices, along with economic uncertainty and a rise in second home loan rates, have put the holiday home boom on the wane. According to DevInf's market observations, the second home on the coast is definitely a long-term investment, but demand has been declining in our country.
This, taking into consideration two years of the pandemic, as well as Job Function Email Database current Job Function Email Database price increases that have burdened consumers and overwhelmed investors. Also, it should be noted that home buyers must specify whether they are applying to secure a loan for a primary home, second home or an investment property and the procedures may be another reason the requirements are reduced. Another element to emphasize is undoubtedly the demand for the purchase of properties on the coast by foreign citizens, since before the pandemic, a trend which has increased prices in the last three years and made it less attractive for locals. 70% of the properties on the coast of Durrës and Qerret are being .
Bought by foreign citizens, such as Czechs, Poles, Hungarians, Albanians from Kosovo living in Switzerland and Ukrainians, while 20% of the demand is met by citizens from Kosovo, about 10% from Macedonia of the North and only 1% are Albanians. However, the increase in the prices of construction materials also has an impact on the increase in housing prices, according to the observations of the last two years by DevInf. However, it should be considered that, in the conditions where rents and sale prices of apartments on the coast have increased, investing in real estate assets in areas such as Durrës, Qerreti, Saranda, Vlora, etc., can be considered a very profitable business.
This, taking into consideration two years of the pandemic, as well as Job Function Email Database current Job Function Email Database price increases that have burdened consumers and overwhelmed investors. Also, it should be noted that home buyers must specify whether they are applying to secure a loan for a primary home, second home or an investment property and the procedures may be another reason the requirements are reduced. Another element to emphasize is undoubtedly the demand for the purchase of properties on the coast by foreign citizens, since before the pandemic, a trend which has increased prices in the last three years and made it less attractive for locals. 70% of the properties on the coast of Durrës and Qerret are being .
Bought by foreign citizens, such as Czechs, Poles, Hungarians, Albanians from Kosovo living in Switzerland and Ukrainians, while 20% of the demand is met by citizens from Kosovo, about 10% from Macedonia of the North and only 1% are Albanians. However, the increase in the prices of construction materials also has an impact on the increase in housing prices, according to the observations of the last two years by DevInf. However, it should be considered that, in the conditions where rents and sale prices of apartments on the coast have increased, investing in real estate assets in areas such as Durrës, Qerreti, Saranda, Vlora, etc., can be considered a very profitable business.