The rise in apartment prices in Tirana has several implications and can affect many aspects of the economy and daily life. For some, it may bring development opportunities, but it will also deepen social divides and increase challenges for those who are economically weaker.

“The price increase will be more pronounced as demand also comes from foreign buyers. As construction costs rise, inflation increases, and this reduces the disposable income of the working class. The rise in prices also leads to inequality because those who cannot afford it tend to become poorer over time. This has significant impacts on social and economic stability,” said economist Arben Malaj.

Real estate agents say that high demand is what drives this increase, even though there are over 50,000 vacant apartments in Albania.

“Vacant apartments are already sold. The high price is set by the market. If there were no demand, it would never reach 5,000 euros. If there were truly vacant apartments, prices would never increase,” said real estate agent Velian Caka.

To manage the consequences that may arise due to rising prices, several coordinated measures must be taken by the government, local authorities, and the private sector.

“The only possibility is a social policy that the state must implement. If the housing stock runs out, developers should be required to pay a tax, no matter how small, and after 2-3 years, this could become a burden and the properties will be sold. This will increase supply and create better opportunities for the middle class,” added economist Arben Malaj.

Data from February showed that the former Bllok area is the most expensive, with prices reaching 5,000 euros/m², followed by the Komuna e Parisit area at 3,000 euros/m². In the residential complex near the Olympic Park and the Artificial Lake, the development is still in the excavation phase, with pre-sale prices ranging from 2,400 to 2,700 euros/m².