TIRANA, Nov 5 /ATA/ – The real estate re-evaluation process in Albania will be delayed until 2025.
The Minister of Finance Petrit Malaj told lawmakers at the Parliamentary Committee on Productive Activities, Trade and Environment on Tuesday that the properties re-evaluation will proceed alongside the establishment of new reference prices across the country, aiming to benefit all citizens.
“This process will last throughout next year as we set new reference values,” Finance Minister clarified.
The decision comes after plans for a September launch were stalled due to unfinished reforms concerning national property reference values.
The initial phase will focus on determining reference prices in cities outside of the capital, Tirana, before beginning the broader re-evaluation process.
As the Prime Minister Edi Rama has already announced this is set to be the last re-evaluation process and the new price reference in other cities across the country and in the coastal areas in particular will automatically increase the value of properties.
In 2023, reference prices for Tirana were approved, resulting in property value increases of up to 30% in premium areas. The comprehensive re-evaluation will also account for a 1% depreciation related to the age of properties.
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