Live @Report TV, Narea Board Member – National Albanian Real Estate Association, Arbër Brahaj and The Executive Director of NAREA – National Albanian Real Estate Association, Reinaldo PIPIRIA, to talk about the latest developments of the Real Estate sector.
Representatives of the #NAREA stressed that the price increase was due to reflection of the increase in the cost of development of the land and raw materials used in construction. Demand for quality housing has also increased, especially after the 2019 earthquake. Some other factors that need to be considered are the emigration of the skilled labor force and the fact that very few unbuilt areas remain and often these constitute an exclusive offer for the medium term.
Rents in the capital are also on the same trend, with some cases also increasing by 20%. This is a quick access zone to the economic centers.
The topic of the interview was the latest developments regarding the regulatory framework affecting the actors of Real Estate Brokerage. #NAREA Emphasizes the fact that the draft Law on the Real Estate Broker Profession constitutes a positive development for this sector, especially when it is about structure of the certification process, preparatory programs and rights for real estate brokers, which will ultimately also translate to benefit clients.
#NAREA for several weeks now, has been pushing for this bill and shares concern that at some point this law may superimpose some other existing regulatory frameworks, some inspection institutions and implementing law, as well as create spaces for arbitrariness by discouraging already formalized market share.