The Bank of Albania published today the Survey on Financial Stability for Real Estate, according to which, the total number of properties sold was 1169 and this number was almost the same as in the first six months of the year. The average number of properties sold per subject remained unchanged at 7.
According to the data, the average time to sell apartments nationwide has increased slightly to an average of 10.9 months.

In the case of Tirana, the average sale time has dropped significantly to 8.3, from 10.5 months. The average time for sales in coastal areas increased slightly to 10.9 months, while for other areas, the duration of sale was significantly higher than in the previous half-year, marking 13.6 months from 10.9 months.

Referring to the survey, agents report increased rental demand, both for residential and commercial properties, and rental prices have increased.
Rental property activity is concentrated in the capital region and especially in the downtown area.
For the next six months, agents anticipate an increase in prices and an increase in the number of properties listed for sale.
Agents are optimistic about the performance of the real estate market in the territory where they operate, for the short-term and long-term future (up to two years). Also, they are optimistic about the future of this market in the entire territory of the country, the survey of BoA says.

/r.e/sm/