<abstract xmlns="http://www.w3.org/1999/xhtml"><p>The construction industry, and especially residential building construction activity, represents a significant part of a country’s general economy, directly affecting GDP through construction, maintenance and renovation, as well as indirectly with notarial acts and banking transactions. Indeed, in many economies, residential building activity is at the heart of economic growth and, consequently, acts as a regulator in economic development. The main purpose of this paper is to contribute to the debate on the significance of pursuing a suitable government policy on the real estate market. The research objectives are: a) to review the existing literature regarding the importance of the housing sector in the general economy; b) to “capture” the link between residential construction activity and economic development in Balkan Peninsula, pursuing supplementary research for the country of Albania; and c) to present the results of the aforementioned study in order to draw important conclusions.</p></abstract>

The construction industry, and especially residential building construction activity, represents a significant part of a country’s general economy, directly affecting GDP through construction, maintenance and renovation, as well as indirectly with notarial acts and banking transactions. Indeed, in many economies, residential building activity is at the heart of economic growth and, consequently, acts as a regulator in economic development. The main purpose of this paper is to contribute to the debate on the significance of pursuing a suitable government policy on the real estate market. The research objectives are: a) to review the existing literature regarding the importance of the housing sector in the general economy; b) to “capture” the link between residential construction activity and economic development in Balkan Peninsula, pursuing supplementary research for the country of Albania; and c) to present the results of the aforementioned study in order to draw important conclusions.

Housing Construction as a Leading Economic Indicator

Panteion University of Social and Political Science

Studies in Business and Economics

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

{"article-title":"Housing Construction as a Leading Economic Indicator"}

The construction industry, and especially residential building construction activity, represents a significant part of a country’s general economy, directly...

Housing Construction as a Leading Economic Indicator

Published Online: Jan 21, 2020

Page range: 33 - 49

DOI: https://doi.org/10.2478/sbe-2019-0041

Keywords
Residential Building Construction, Real Estate Market, Housing Policy, Economic Growth, Balkan Countries

© 2019 Bormpotsialou Olga et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Housing Construction as a Leading Economic Indicator

Published Online: Jan 21, 2020

Page range: 33 - 49

DOI: https://doi.org/10.2478/sbe-2019-0041

KeywordsResidential Building Construction, Real Estate Market, Housing Policy, Economic Growth, Balkan Countries

© 2019 Bormpotsialou Olga et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Keywords
Residential Building Construction, Real Estate Market, Housing Policy, Economic Growth, Balkan Countries