Association of Builders of Albania: Demand for apartments on the coast increases by 30%; 40% of purchases from foreigners

The demand for buying apartments in this period is led by the sale and purchase market of properties on the coast.

While in Tirana, according to the Association of Builders of Albania, the demand for apartments is the same compared to years.

The Chairman of the Association of Builders of Albania, Erjon Harizi, told “Monitor” that compared to years, the demand for properties on the coast has increased by 20 to 30% compared to last year. Among the most preferred areas for purchasing real estate is Vlora, Palasa and Saranda.

The Chairman of the Association of Builders said that 40% of buyers of properties on the coast are citizens with foreign passports.

Earlier, the sales office of the “Concord Investment” company stated that there is an increase in demand for the resorts in the south of the country, which is more dominated by foreigners, influenced by the high flow of tourists.

Foreign buyers, according to them, are showing more interest in purchasing property for investment purposes due to the affordability of the prices compared to their neighbors.

At the beginning of the spring season, property prices on the coast, according to data from real estate agencies for Monitor, were on average 25% more expensive compared to last year.

In resorts in coastal areas such as: Palasa, Orikum and Sarandë, the maximum selling price of apartments reached 4,000 euros per square meter.

On the front line of the resort construction in Lungomare, apartments are being sold at a price of 3,500 euros per square meter. Compared to years, the prices of properties on the front line of Lungomare in Vlora have increased by 25%.

There was an increase in prices in Orikum and Radhimë areas. The price of property for residents in Radhima and Orikum within the year increased by 67 to 88% according to the data on the sale prices of real estate agencies.

Real estate agents claim that in the first line for the coastal areas of the south you will not find real estate with a price below 3,000 euros.

In Golem, the maximum selling price reached 1,500 euros per square meter and in Gjirin e Lalez, values ​​range from 2,400 to 3,300 euros per square meter.

In the area of ​​the rock of Kavaja, the maximum sales prices have reached 1,800 euros per square meter from 1,500 euros that were years ago (20% increase).

Within the city of Saranda, the prices of apartments, as stated earlier by Eron Çumani, a manager of one of the oldest agencies in the city “Saranda Property”, range from 1,500 euros per square meter for buildings built 10 years ago to 2,200-2,500 euros per square meter. in new constructions located 500 to 1,000 meters from the sea.

As for the new apartments under construction on the seafront, the prices start at over 3,000 euros per square meter.

 

The demand for properties in Tirana does not change

From the data of the Association of Builders of Albania, the demand for apartments in Tirana in this period is the same compared to years.

Real estate agents have claimed that the increase in prices, especially in the center, has shifted the demand of young families to the suburbs. But it is happening that even in the suburbs the prices are no longer below 1,000 euros per square meter.

One of the areas with the highest demand currently according to the association of builders is Paskuqani, due to the development that the area is taking, where new residential areas are being built with prices from 900 euros per square meter compared to the center where prices start from 2,000 or 2,500 euros per square meter and reach up to 5,000 euros for the towers./D.Azo

 

ARTICLE SOURCE: Revista MONITOR

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