According to the Fisher Index calculated by the Central Bank of Albania, residential property prices in the Balkan country from the beginning of the current year have increased by 16.9% compared to 2023. In Tirana, the increase is even greater. The price index in the capital increased by 23.5% compared to 2023.
The dynamics of the index is mainly determined by the high registered prices in the central areas of the capital. There are no significant changes in coastal cities and other areas.
The central bank's statistics reflect a market recovery in 2024. In 2023 the dynamics are much more moderate. At the end of the second half of 2023 prices increased by only 3.2%. However, the regulator emphasizes that the increase in the average price can be strongly influenced by an increase in the share of transactions in the most expensive locations, including the center of Tirana.
The share of sold real estate in the central areas of Albanian cities represents about 46% of the total number of transactions for sale in the first half of 2024. This figure is much higher compared to previous periods.
The number of unsold properties, both residential and commercial, continues to decrease. Since the beginning of 2016 positive dynamics are observed in this area. This trend shows that demand consistently exceeds supply. Even with rising prices.
You can see detailed statistics on average property prices in Bulgaria by cities and neighborhoods HERE