TIRANA, Sept 10 /ATA/ – House prices in Albania rose 16.9% compared to the second half of 2023 and 8% compared to the same period of the previous year, the Bank of Albania said on Tuesday.
According to central bank, real estate price index in Tirana rose 23.5%.
Central Bank highlights that the increase in the average price has been driven by the increase in the share of transactions in the most expensive areas, such as central Tirana, with the property sales in the central areas accounting for around 46% of the entire sales volume.
Lower property sale prices were reported compared to previous periods in Tirana outskirts.
A total of 928 properties were sold during the reviewed period. The average time it takes to sell homes fell slightly to 10.5 months from 10.9 months in the previous survey.
According to real estate agents, around about 53% of the residential and commercial properties were purchased through bank loans.
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