Albania Residential Prices

Luciana Koprencka () and Redian Hysi ()
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Luciana Koprencka: University of Vlora ”Ismail Qemali”
Redian Hysi: Deloitte Albania

Acta Universitatis Danubius. OEconomica, 2016, issue 12(2), 174-193

Abstract: The real estate market is complex and influenced by too many factors. Real Estate market in Albania has experienced a boom after the 1990. We have inherited from the communist system a very poor market of housing. The number of dwellings in 1990 in Albania was 219 dwellings per 1000 inhabitants and the useful floor space was 5 m² per person, but in Bulgaria number of dwellings per 1,000 people varies 465 and in Romania average useful floor space per person was 37 sq. The data used in this study are derived from the database of the World Bank, the Institute of Statistics, reports of Bank of Albania also from information provided individually on the ground and different sources. In this study is analyzed the relationship that exists between economic growth, remittances and the price of dwellings in Albania. The dependent variable is the average price of housing in major cities of Albania. Independent variables in the model are GDP per capita and the remittances. The Econometric model is a Linear Regress equation and the period are the years from 1998 to 2013. The model used is the statistical program EViews 6.0. Unfortunately the information let the desired, so we do not have an official detailed information on prices of Albanian real estate market. In Albania few researchers have been studying real estate market in Albania.

Keywords: housing market; economic growth; remittances; price of dwelling; linear Regress equation. (search for similar items in EconPapers)
Date: 2016
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