Tirana’s property prices continue to soar

Exit -- May 10
The price of real estate in the Albanian capital of Tirana has continued to rise during the first quarter of 2022 with the average price at EUR 1,143 per square meter.

Property prices have soared in recent years as developers swoop in to constructed new builds throughout the city.

The cost per square metre increased by 3.2% compared to the end of December 2021. The average price of property inside the main ring of Tirana is EUR 1,300 per square metre, rising to EUR 1,600 in the Blloku area. Outside the main ring, in suburban areas, the price is EUR 1,000 per square metre.

Much of Tirana’s construction boom however, is believed to be driven by dirty money. The Global Initiative Against Transnational Crime Initiative estimated that between €300-700 million in dirty money enters Albania each year, much of which is destined for the construction sector. ...continue reading