Apartments and villas in the coastal regions of Albania rose in price by a quarter in the year to April 2024. This is the average estimate of local realtors. According to their forecasts, prices will continue to rise, including due to foreign demand.
Last year, foreigners, according to agents, actively bought resort properties in the country, which pushed prices up. There are especially many Kosovars among non-residents, as well as citizens of Italy, Germany, Switzerland, the Czech Republic, and Poland.
In Saranda, apartment prices range from 1,500 euros per square meter (in houses older than 10 years) to 2,200-2,500 euros per square meter. m in newer buildings located at a distance of 500 to 1000 meters from the sea. Housing prices in new buildings on the first line start from 3,000 euros per sq. m. As a result of the rise in real estate prices in Saranda, sales have decreased by almost 50%.
In the southern part of the country, the construction of large infrastructure facilities in Vlora and the tunnel in Logar contributes to the price increase.
Realtors also note that offers cheaper than $100,000 have been washed out of the market. These are mainly 1+1 apartments (bedroom plus kitchen-living room).
Source: "Albanian News"
