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Coastal and Tirana Properties Are Getting Harder to Sell
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Coastal and Tirana Properties Are Getting Harder to Sell

TIRANA, October 14 Properties got harder to sell during 2019. The data was confirmed by a survey conducted by the Bank of Albania (BoA) with residential and commercial contractors and real estate brokers. According to the respondents in Tirana, the average time to sell a property in the capital city during the first half of...

House Prices Rise but at Slower Pace in Jan-Jun 2019
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House Prices Rise but at Slower Pace in Jan-Jun 2019

TIRANA, October 10 House prices in Albania grew by 1.8 percent during the first half of 2019 according to the Bank of Albania (BoA). The finding was based on a report conducted by BoA with over 300 real estate agencies throughout Albania. The data show that house prices growth rate slowed a tad in 2019....

Buying a Property: Decennial Liability Insurance Mandatory by Law
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Buying a Property: Decennial Liability Insurance Mandatory by Law

TIRANA, October 3 If you are planning or closing a deal on a residential or commercial property, make sure that the contractor or seller provides decennial liability insurance along with the property sale agreement. Based on a decision adopted Wednesday by the Council of Ministers, decennial mandatory insurances or inherent defect insurance will be mandatory....

Housing Loan Trend to Watch For in 2019
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Housing Loan Trend to Watch For in 2019

TIRANA, August 14 The individuals have received around €100 million credits for their houses in the first half of 2019. According to data by the Bank of Albania, housing loan is in increase even this year. Between January-June 2019, the banking system has given Lek12.3 billion new credits for this purpose. Compared to the first...

Where and How is Housing Tax Calculated for Tirana?
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Where and How is Housing Tax Calculated for Tirana?

TIRANA, August 2 The water supply and sewerage system of Tirana have announced on its official website, for all the inhabitants of the capital city, to hurry up and make the calculation of the housing tax for their residences, which at the end will be included in the water bill. They are invited to all...

Revenue from Property Taxes Declines in Q1
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Revenue from Property Taxes Declines in Q1

TIRANA, July 3 Property taxes are a considerable source of revenue for local power, but the latter confirm that expectations for January – March 2019 were not met. According to the report on local finances Jan-March, all the 61 municipalities across the country collected a total of Lek 784.3 million from property taxes for the...

Residential Property Prices Rose 15% in Five Years, BoA Says
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Residential Property Prices Rose 15% in Five Years, BoA Says

TIRANA, May 28 Home prices grew 15.2 percent between 2013 and 2018, the Bank of Albania (BoA) confirmed. The house price index was measured based on the data provided by real estate agents as well as property and construction companies. According to the participants in BoA’s survey, over 54 percent of the residential and commercial...

Tirana’s High-End Real Estate Market Hottest in the Region
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Tirana’s High-End Real Estate Market Hottest in the Region

TIRANA, March 18 Housing prices in the market of high-end apartments and condos in central areas of Tirana have skyrocketed. The real estate prices are reaching up to Euro 4,000 per square meter in a new project by the Presidency, hence marking the highest level in the region. Monitor magazine reports that when it comes...

A Building Boom in Tirana, New Mix-Use Luxury Project in Durresi Road
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A Building Boom in Tirana, New Mix-Use Luxury Project in Durresi Road

TIRANA, October 29 Investment in the construction sector is increasing in the Albanian capital with many new projects.  A new mixed-use building is planned to be constructed at Durresi Road, Monitor reported. Based on the available information, the new project named ‘Greenside Out’ was designed by Dutch Joubert Architecture (JA) studio for Eurocol Construction Company...