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Houses will become more expensive/ BoA: Fewer properties are being sold faster, 18% are bought by foreigners
2025-04-25 21:15:27 / EKONOMI&SOCIALE
Apartment prices continue to rise despite the high number of building permits. The Bank of Albania reports that last year banks provided more loans for the purchase of real estate, covering 50 percent of the total, but interest rates also fell.
However, the annual document of the central financial institution states that housing purchases were mainly by locals and a slight decrease was recorded by non-residents.
About 18% of the apartments were reported to have been purchased by non-resident citizens. Of these, about 77% were citizens of EU countries.
"The survey shows that the national House Price Index increased by 23.6% in six-month terms, and by 44.5% compared to a year earlier. The increase in the index value for Tirana was also strong," the report states.
The trend is expected to be the same for 2025. The Bank of Albania specifies that the number of unsold properties has continued to decline.
Even the time to sale from the moment the property is put on the market continues to decline, going to an average of 9 months from 10 months previously, while in Tirana it was 7.1 from 9.7 months in the previous study.
Rental prices have also increased. Agents even add that the situation will continue to be like this in the long term.
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