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The average price of an apartment in Tirana is 1175 euros per square meter

2023-06-16 07:54:14Biznes SHKRUAR NGA REDAKSIA VOX
The average price of an apartment in Tirana is 1175 euros per square meter
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The average increase in apartment prices in Tirana in the first 6 months of 2022 is the same as the increase in property prices in Podgorica, Montenegro, according to market analyzes by the Bank of Albania and the Central Bank of Montenegro.

According to the analysis of the research department at the Bank of Albania, the average prices of apartments in Tirana for 2022 reached the level of 1,175 euros per square meter. Compared to the same period of 2021, the average price increase is 15.6% and for internal areas 18.3%.

The sample size consists of 30,467 notices, referring only to housing, excluding commercial properties.

The average increase in apartment prices in Tirana is the same as the average price change in the capital of Montenegro, Podgorica.

According to the analysis of the real estate market in the macroeconomic report of the Central Bank of Montenegro, the average price of apartments in Podgorica reached 1,248 euros per square meter. Compared to the first 6 months of 2021, the price increase in Podgorica is 15.7%, at the same levels as in Tirana.

While in Montenegro, the sample size is 58,295 apartments divided into three locations. Referring to the analysis data of the Central Bank in Podgorica for the first half of 2022, the highest average price of apartments was in the first zone and reached 1,449 euros per square meter.

In the second and third areas, the prices per square meter were lower and reached 1,249 euros and 1,140 euros per square meter, respectively.

The report emphasizes that the individual price of housing varied between 3,000 euros per square meter for properties in the center and 555 euros per square meter for properties in the suburbs.

Compared to individual property prices in Tirana, the Albanian suburb is many times more expensive than that of Montenegro.

In the peripheral areas of Tirana, such as Fresku, Astiri or Yzberishti, apartment prices, according to the data of real estate agencies, respectively, have reached the value of 800, 900 and 1,000 euros per square meter (1,000-1,1000 euros per square meter is the price of apartments in new constructions in Yzberisht).

While in new constructions such as the area of ​​the former Block, apartment prices are offered at 3,500 euros per square meter.

Real estate agents predict that for a short-term period they are not expected to have price increases in the peripheral areas, excluding the center, where the new constructions that will be completed are expected to be at higher prices than last year.


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