Over 100 real estate sales offices are calling on the government to lower the revaluation rate further than the proposed 5%.

In a press statement, the association of real estate agents argued that the current 15% tax on every sale-purchase transaction blocks the market, and that a 3% tax rate, instead of the proposed 5%, would have a positive impact for both consumers and the government.

“A comparison of the past five years shows that during 2020–2022, when the tax was at 3%, the state budget generated an average of €44 million annually from real estate resales—up to about 60% more compared to the years when the tax stood at 15%. In this context, such a high fiscal burden of 15% slows transactions, negatively affects budget revenues, and fuels informality,” the association’s request states.

At the same time, real estate offices raised concerns that a nine-month revaluation period is insufficient.

According to housing census data, two-thirds of occupied homes in Albania are over 25 years old, and only 12% are less than 10 years old. Based on NAREA estimates, potentially around 500,000 homes require revaluation.

Over 100 real estate sales offices are therefore urging the government that the upcoming revaluation campaign should take into account several changes to the proposed draft.

In their communication with the media, the association of real estate agents reiterated that the current 15% tax on transactions is blocking the market and needs revision. They argued that for the next revaluation campaign, a 3% tax rate, instead of 5%, would generate a positive impact for both consumers and the government.