“The buyers of real estate in Albania are mostly emigrants or suspected criminals who can usually pay with cash for new luxury apartments in Albania,” Central Bank governor Adrian Fullani, said Wednesday in parliament. “Such sources make up majority of the demand in the construction sector, but they are not a constant source,” Fullani said.

A brake up in the flow of dirty money or in emigrants’ remittances could cause a strong crisis in the construction industry, which could then affect the whole economy, according to the Central Bank.

Every year the construction industry in Albania begins the construction of at least 1.5 million sqm new apartments with prices which always range beyond the income possibilities of most ordinary class Albanians. Average real estate prices range at about 800 euro per sqm for apartments and at 3000 euro per sqm for businesses.

Presently, in Albania authorities do not have any legal duties to ask or investigate about the origins of investments thus turning Albania into a free playground for illegal investments.