Major Changes in the Construction Sector: Early Sales Are Now Prohibited

Prime Minister Edi Rama has announced an immediate ban on the practice known as “pre-construction sales” the sale of apartments before the completion of construction. This decision is expected to cause significant disruption in the real estate market, particularly in the capital.

For years, this type of sale has been essential for developers, who relied on buyers’ advance payments to finance their projects. With this practice now prohibited, the aim is to protect consumers from the risks associated with unfinished developments and to increase transparency in the market.

According to experts, the initial phase will likely bring a period of uncertainty and a slowdown in market activity. However, in the medium term, the decision may lead to lower prices and a more stable system, where financing comes through banks rather than citizens’ upfront payments.

Developers will face new challenges, including the need for more initial capital and a reassessment of their project financing strategies.

“KORÇA BOOM”