Property Price Increase in Albania for 2024

The Albanian government has recently approved new reference property prices, marking a significant rise across the country. This reflects market trends and the growing demand for real estate, especially in urban and coastal areas.

 

Prices in Tirana: Which is the most expensive area?

In the capital, the average price per square meter (m²) has increased to 124,300 ALL, driven by urban development and high demand.

Most expensive area: The vicinity of Liqeni Artificial (Artificial Lake), with prices reaching 227,400 ALL/m².

Least expensive area: Unit 11 (near Paskuqan), where the price is 62,500 ALL/m².

Beyond Tirana, Farkë Administrative Unit holds the record as the most expensive area nationwide, with property prices near its lake climbing to 257,000 ALL/m².

Prices in coastal areas

Coastal areas have also seen a noticeable rise in property prices:

Dhërmi leads the way, with prices reaching 190,000 ALL/m².

This trend highlights the high demand for properties near the sea, whether for personal use or investment purposes.

Prices in other regional centers

In cities such as Durrës, the average property price has risen from 67,500 ALL/m² in 2023 to 71,200 ALL/m² in 2024. Similar increases have been observed in other regional centers, with annual changes reaching up to 14,000 ALL/m².

What does this mean for you?

The reference prices are not just market indicators but also tools to help citizens and businesses make informed investment decisions. They also assist the National Housing Agency and the government in designing better housing and fiscal policies.

The rising property prices reflect economic growth and increased demand but also underscore the importance of thoughtful investment. Urban and coastal areas remain the most sought-after, offering excellent opportunities for long-term investments.

For those planning to buy or invest, these reference prices are a valuable guide to Albania’s real estate market.

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