TIRANA, April 28 /ATA/ – House prices slightly dropped in the first half of 2023 compared to the second half of the previous year, the Bank of Albania said on Friday.
According to the Fischer House Price Index, calculated by the Bank of Albania, the average price of apartments sold in the second half of 2022 rose 16.6% year-on-year, but the house prices fell by 9.1 % compared to the first half of this year.
The real estate price index in Tirana went up 13.9% year-on-year, but it fell by 11.4% compared to the previous half of the year.
According to central bank, the trend indicates normalization of the real estate prices following a significant increase by 28.4% in the first half of the year compared to the previous six months.
On the other hand, central bank also notes that the increase house prices in the first half of 2022 were driven by the high number of sales reporting at relatively high prices.
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