During the 2Q of 2016 prices on Tirana property has risen by 5.2%. This information leads the Central Bank of Albania.
In the 1Q price growth was 11.2%. The cost per square meter in the capital of Albania is continuously growing since the middle of last year. Analysts say the situation on the local real estate market is improving significantly.
As for the rental market, the trend here is the opposite. The average rental cost in Albania in 2Q decreased by 10%. This is due to the increased interest of Albanians to purchase their own homes. A large part of the population realizes that to buy your own property is much more profitable than constantly spend for rented apartments or houses.
Moreover, mortgages in Albania are available at very attractive terms. Because the returns on deposits were close to zero, many residents prefer to invest in local property, which has good investment prospects.
Based on the materials of albania-news.ru