Today the tax is 15% and burdens the citizens’ budget when buying and selling a property, and the rate reduction is expected to be formalized in the first part of October.

Revaluation is a process where the citizen benefits, as it increases the value of the property, pays a lower tax if he wants to sell it, makes it easier to get a loan and keeps enforcement offices away.

With a simple example, if after the 90s you bought a property in Tirana for 20,000 euros and you will sell it today for 120,000 euros, mathematically you will earn 100,000 euros. But, from this transaction, the state will withhold 15 thousand euros in tax, while with the revaluation that will come into force, you will pay 10 thousand euros less.

Since the release of the majority initiative to offer property revaluation at a reduced tax since the beginning of the year, the market has stagnated as citizens and businesses have held back sales.

With the approval of the new tax, in the procedure, there are two ways of revaluation of movable assets; with experts from the Cadastre Agency or with licensed private experts.

The initiative for the revaluation was proposed in the spring, but was not approved because there was a lack of a complete and updated map with reference prices, both for Tirana and for the coast, which bear the largest weight of transactions.