Housing in Albania rose in price in January-June 2024, according to the Fischer index calculated by the Central Bank of Albania, by 8% compared to the same period in 2023. In Tirana, the growth was even higher - 11% year on year.
The market has become more active this year, which is confirmed by statistics. For comparison: in the 2nd half of 2023, prices rose by only 3.2%.
However, the regulator emphasizes that the dynamics could be strongly influenced by an increase in the share of transactions in the most expensive locations, including the center of Tirana. The central districts of Albanian cities accounted for about 46% of the total number of purchase and sale transactions in the 1st half of 2024. There were no significant changes in resort towns and other areas.
The report also notes that the stocks of unsold properties on the market of both residential and commercial real estate are declining. This suggests that demand exceeds supply, despite the rise in prices.
Source: Albania News
