Nearly 1 in 5 apartments sold in Albania are being purchased by foreign buyers, according to a recent survey by the Bank of Albania. Covering the second half of 2024 and involving 230 construction firms, the survey revealed that 863 residential properties were sold during this period.

Key findings include:

• 18% of the homes were bought by non-residents, with 77% of those buyers coming from European Union countries.

• Half of all purchases were financed through bank loans.

• The focus of sales activity was in peripheral areas of Tirana, where both prices and sales volume have increased significantly.

Coastal regions like Durrës, Vlorë, and Saranda are also seeing rising interest from both domestic and international buyers.

Faster Sales and Positive Market Outlook

• The average time to sell an apartment in Tirana dropped to 7.1 months, down from 9.7 months, reflecting strong demand and faster transaction completion.

• In other regions, the average time to sell has decreased to 11.6 months.

Developers and real estate agents remain optimistic:

• 56% expect price stability

• 39% foresee further price increases

• Only 4% anticipate a decline in property prices

This trend underscores Albania’s growing appeal as a property investment destination, particularly among EU nationals, with continued expectations for price growth, especially in Tirana and coastal areas.