The end of the golden age? Construction is faltering, the market is showing the first signs of a downturn

The construction sector, which for years has served as the unstoppable engine of the economy in Albania, seems to have reached a turning point and has begun a sudden dive.

The latest data from the Bank of Albania survey shows a sudden decline in confidence in this sector during October 2026.

The Construction Confidence Indicator collapsed by -5.7 percentage points in a single month, marking the most severe negative blow to the entire economy and curbing the growth of the Economic Sentiment Indicator in the country.

New contracts collapse

Detailed data show that the plunge is being driven by a drastic slowdown in new orders. The order book balance fell, plunging from -15.0 percentage points in September to -24.9 percentage points in October.

This decline is officially confirmed by builders themselves on the ground. When asked about the factors that are limiting their activity, the percentage of firms directly complaining about “Insufficient Demand” increased to 45.93% in October (from 42.75% in September).

This shows that buyers are rapidly withdrawing from the real estate market. Current construction activity has also started to slow down, dropping to 13.0 points.

This sudden plunge in orders seems to have broken the arrogance of prices in the market. Faced with falling demand, builders themselves have lowered their expectations for further apartment price increases.

Future price expectations fell to 11.8 points, a strong signal that the market may be heading towards a forced correction or stabilization.

Although the sector still stands above its historical average thanks to the aggressive growth of previous years, this month has given the first warning that the golden and untouchable era of construction may be coming to an end. /Kapitali.al

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