Albanian Real Estate Market Sees Significant Drop in Transactions, High Prices Recorded
A recent report from the Registry of Prices and Rents of the Agency for the Cadastre of Immovable Assets reveals a notable shift in the Albanian real estate market during the first quarter of 2024. Data indicates a substantial decrease in transactions alongside significant price points for new apartments. The highest recorded price per square meter occurred in the Kisella Voda Municipality, reaching 177,667 Albanian denars, equivalent to approximately 130,000 euros.
This price was achieved for a property covering 45 square meters, resulting in a rate of 2,888 euros per square meter. The report highlights a decline in activity within the market. A total of 712 newly built apartments, developed by a single investor, were registered during January-March.
This represents a decrease of 292 apartments, or -29 percent, compared to the fourth quarter of 2023. Analysts attribute this trend to a combination of factors, though the precise reasons remain under investigation. The data underscores the continued importance of tracking prices per square meter and the overall volume of transactions within the Albanian real estate sector.
Topics: #square #meter #euros
