In a live communication via his “Sy m’Sy’ social media show, PM Rama responded to a commenter regarding the real estate re-evaluation process.

The government head said that the process has been postponed for the second half of the year for a number of reasons, adding that the real-estate re-evaluation process entails large volume of work.

“Maps are being drawn, because a complete inventory of the sales and purchases is being made so that a favorable re-evaluation process is ensured for all the interested individuals,” PM Rama added.

He underlined that the goal is to complete the entire re-evaluation process within 2025, so that all Albanian citizens have their properties re-evaluated according to the current market prices as of January 1, 2026.

The initial phase is expected to 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 previously 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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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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Referring to data from the Albanian Cadastre, so far there are over 41 thousand individuals and businesses that have approximated the value of their property with that of the market by paying a small tax rate, only 3% for individuals and 5% for businesses. In the first months of this year alone, over 9900 properties across the country have been re-evaluated.

During 2020, in the Region of Tirana, which includes the municipalities of Tirana, Kamza, Vora and Kavaja, over 13,600 objects were re-evaluated, while in the first months of this year over 4,500 objects.

Meanwhile, there has been interest in the coastal areas, Durrës, Vlora and Saranda. According to data since the opening of the process in February 2020, 8934 properties have been re-evaluated.

In total, the revenues from the re-evaluation of assets collected in the budget since February 2020 are estimated at ALL 4.3 billion.

Re-evaluation is a process that approximates the value of property to the current market price, done voluntarily by citizens within a certain time frame, creating the possibility that the tax paid to the state in case of a sale, is much lower.

From this re-evaluation, there will be able to benefit about 50 thousand assets, the positive effect on the state budget is expected to be 6 billion.

This is the third re-assessment being done. In 2011-2013, there were re-evaluated 95 thousand houses./p.s./