Quality Rental Property Trends for International Professionals in Tirana

Quality Rental Property Trends for International Professionals in Tirana

TIRANA, April 30

Accommodation is one of the top considerations when planning to move to Albania as an international civil servant or professional. Most people in the Albanian capital live in apartments, but there are also numerous options for houses and villas for rent.

The housing demand in Tirana is high compared to the other major cities like Durres, Vlora, or Saranda. On the other hand, housing prices are high for locals, but they are not considered as too expensive for international professionals.

Latest figures from Eurostat 2018 Current Market Rents survey indicated that rental prices in Tirana had risen six percent for flats and five percent for houses on an annual basis.

Real estate Tirana

Yet, it is necessary to mention that the survey focuses on new residential areas of good quality that are favored by the expatriates and professionals such as international civil servants, doctors, managers, university staff, etc.

Moreover, the survey explains that neighborhoods surveyed may not necessarily be in those areas where expatriates actually live, but comparable with those actually occupied by officials in Brussels. Hence, the survey in Tirana focused in the areas of Elbasani Street, the former Block, Selita, Kodra e Diellit, and Sauku.

“Because of the importance of housing costs in the overall expenditure of a household, specific rent surveys are carried out annually in cooperation with relevant real estate agencies,” it is written in the survey.

Based on the finding of Eurostat’s survey the average monthly rent for a three-bedroom flat increased from Euro 670 in 2017 to Euro 730 in 2018
The price for a two-bedroom flat changed from Euro 520 to Euro 540. (Euro 1,350 in Belgrade, Euro 820 in Sarajevo)
The price for a one-bedroom flat changed from Euro 350 to Euro 370.
The average monthly rent for a villa changed from Euro 1,350 to Euro 1,400.

The data provided by the survey confirm that good quality properties for rent in Tirana are less expensive compared to Belgrade and Sarajevo, but higher than Skopje. Those three capital are located far from the sea, compared to Tirana.

According to the survey, the most expensive capital cities in 2018 were the following:

European Union: London

Non-EU countries: Reykjavik

America: New York

Asia: Tokyo

Source: Eurostat

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