Real Estate Market in Albania During Covid-19

Abstract

In November 2019, the world first heard about a mysterious virus that was rapidly spreading in China but soon began spreading around the world. This spread resulted in a pandemic in early March 2020. Governments worldwide imposed strict measures to close citizens at home, close factories, shopping malls, schools, and universities. Like all other sectors, the real estate sector faced an unusual situation. Investor fears caused sales in real estate to fall, people abandoned homes in urban areas to live in quieter areas while many households because of losing jobs struggled in loan payments. Although a short period of time, several studies have been conducted on the effects of COVID-19 on the real estate sector in various countries of the world. In this paper, we aim to take a look at the conditions of the real estate market in Albania during COVID-19.