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SPAK investigations reduce demand for apartments in Tirana, who was buying with informal money?!

2026-09-22 17:55:46Biznes SHKRUAR NGA REDAKSIA VOX
SPAK investigations reduce demand for apartments in Tirana, who was buying with
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The demand for apartment purchases in Tirana has returned to the downward trend of 2024.

At that time, real estate agents claimed that the decline in demand from buyers with financing sources from informal money was influenced by the intensification of SPAK investigations into political and entrepreneurial figures.

For the housing segment, the decline in demand was influenced by the unaffordability of prices.

Real estate market agents claim that the market has currently shown a decline in demand, both for the category of buyers with informal sources of money, including buyers for housing issues.

From buyers with informal money, the causes of the decline in demand are again related to the intensification of SPAK investigations, as well as the numerous seizures of properties in the real estate sector belonging to criminal groups.

According to real estate agents, SPAK's investigations and seizures have led to a decrease in demand for two categories, firstly, administration employees who mostly use informal money to purchase properties, and a decrease in demand from criminal groups.

There has also been a decline in real demand, which consists of the demand of young families for housing, or those looking to build a house for expansion purposes, and the demand of businesses for investment purposes.

Unaffordability continues to be affected by the gap between apartment prices and household incomes, which is limiting the demand of young families.

Real estate agents claim that there is a lack of supply in the market with properties valued up to 200 thousand euros, preventing buyers from entering the market for housing purposes.

Has the slowdown in demand begun to be reflected in apartment prices?

According to announcements from several real estate agencies, some units in Tirana's towers are being offered at promotional prices, below the initial levels requested by the sellers.

"Monitor" contacted real estate agents for a property in the "Tirana's Rock" building, where the promotional price offered was around 3,700–3,800 euros per square meter, while according to the agents, the usual prices for similar properties in this building range around 4,000–4,500 euros per square meter. For this market, apartment prices in Tirana range over 5 thousand euros per square meter.

According to data recently published by the Keydata Albania index of "Çelësi Media Group", the average apartment prices from the second quarter of 2025 to the second quarter of 2026 remain at values ​​of over 2 thousand euros per square meter.

By June 2026, the average price of apartments reached 2,116 euros/m². Compared to the previous quarter, the average price of apartments decreased by 1.2%.

A decrease was also noted for the median price, from 2,046 euros/m² in the previous quarter to 1,982 euros/m² in June 2026. The median price decrease is 3%.

The head of "Çelësi Media Group" Ylli Sula previously stated to Monitor that one of the main factors behind the price decline is the reduction in the tax on the sale and purchase of apartments since the start of the implementation of the revaluation process.

According to him, the reduction of the tax on profit from the sale of property from 15% to 5% with the start of the revaluation has created more flexibility for those who needed to sell their property as soon as possible. According to him, this has led to a decrease in sales prices by about 3–4% in such cases, as sellers have been able to negotiate more thanks to the lower fiscal cost.

The revaluation process with a reduced tax rate of 5% began to be implemented in February 2026.

Meanwhile, other real estate agents linked the price drop to the numerous investigations launched by SPAK, during which luxury properties suspected of belonging to criminal groups were seized. According to them, this has had an impact on curbing the circulation of informal money in the real estate market, resulting in a decrease in demand from this category of buyers./ Monitor


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