TIRANA, February 10
Higher demand for purchasing a house or apartment in Albania. According to the Bank of Albania (BoA), the housing prices in capital Tirana increased for the first time after five years of declining prices.
Based on BoA’s data, throughout 2016, housing prices continued to rise by about 4.6 percent year-over-year.
Currently, the prices in the housing market vary from €400 per square meter to €2,500 or €3,000 in downtown area.
Moreover, the data confirms that housing prices during the last years reflected the economic developments. The demand for new apartments declined significantly after 2009 in Tirana and other cities. This caused the five-year period of decline. According to BoA, the hike in housing prices is related to economic growth.
News Source: Top Channel TV
Leave a Reply
You must be logged in to post a comment.