High demand from foreign citizens has led to a 40-60% increase in prices of existing apartments from Shkembi Kavaje to Saranda during the year. In the new resorts under construction on the Riviera, apartment prices start from 2,000 to 4,500 euros / m2. Prices for villas on the coast have also increased this year. Luxury villas with sea views are sold for 1.2 million euros, the price in 2021 was 1 million euros. In the resorts of the South, real estate is bought more by Albanians to invest in rent or resell it to foreigners due to the increase in prices from year to year.
New apartments on the coast are sold at a price of more than 900 euros / m2 this year. Real estate agencies say that prices for new buildings have increased in places such as Durres, Cerret, Saranda and Vlora.
In Durres, prices for apartments away from the beach have increased by 20%, while the biggest difference is in the first line properties of Shkembi Kavajes, where prices are higher by 46%.
In Cerreta, prices for new homes from 1,200 euros / m² in 2021 have reached 1,400 euros / m² this year (an increase of 16%). In Saranda, apartment prices have also continued to rise this year. In new buildings for the period 2021-2022, prices have increased by 40%. The same increase is observed in standard apartments built 10 years ago.
VIP apartments continue to be sold in this city, thanks to the desirable location by the sea and the large area of the verandas, with prices up to 3,500 euros / m² (a year ago, agents claimed that VIP properties were sold for 4,000 euros / m²). m²).
Market participants claim that the price increase was caused by higher construction costs due to the improvement in the quality of building materials, the standards of new projects and high demand for the purchase of coastal real estate by foreign citizens.
High prices this year are also distinguished by apartments in unfinished 2-3-storey buildings in the main resorts. In the tourist complex «Cape Merlit» in Ksamil, apartment prices reached 4,500 euros / m², in «San Nicolas», a palace 2,500 euros / m², in «San Pietro» in the Bay of Lalez from 1,700 to 2,200 euros / m² and in Vlora up to 2,000 euros / mW. It is expected that prices for these complexes will increase by 10-15% by 2023.
How have prices for apartments changed in Durres
This year, prices for apartments in new buildings away from the beach in Durres have increased by 20% compared to previous years. Market agents say that in addition to the increased demand from foreigners, the new port project has also influenced the growth of prices for real estate on the first line in Durres. For apartments near the port, sales are stagnating, as owners predict a high price increase after the completion of the project.
Arian Gjuzi, a broker in Durres, says that new buildings in zone B (former police station and stadium) from 750 euros, which have been for years, are sold at 900 euros / m². There is no demand for these apartments.
«We are talking about buildings located far from the sea, or, as we call them, in zone B. The rise in prices was influenced by the rise in the cost of building materials, especially iron, which this year marked a high price. year. The quality of the buildings is also better, but there is no demand due to the high price in relation to the location. In these areas, more apartments are sold at a price of 500 to 750 euros/m².» According to him, apartments in Zone A of Durres (near Currilava and the port) cost between 900 and 1,300 euros/m² (with a sea view). There has not been much new construction in these areas this year.
In Shkëmbi i Kavajës, prices for apartments in the first line of construction have increased sharply for 2022 due to increased demand from foreigners. «Apartments on the first line are sold at a price of 1,000 to 1,100 euros/m², from 700 to 750 euros/m² last year.
The demand for them is very high, mainly from Czech citizens who want to buy houses with a sea view. «This year, the demand for apartments in the first stage of construction from foreign citizens has been very high, both in Durres and in Cerreta,» Mr. Guzi.
Apartments on the first line are sold at a price of 1000 to 1100 euros/m2, from 700 to 750 euros/m2 last year. Demand for them is very high, mainly from Czech citizens who want to buy houses with a sea view.
Golem, a destination for Kosovo Albanians and Macedonians
If 10 years ago, residents of Tirana, Fier and Elbasan were buying up apartments in the Golem area en masse, using them as holiday homes, then in the last 2-3 years they have been sold to Kosovo Albanians and citizens of North Macedonia. High demand for real estate from foreigners, mainly on the first line, has increased their prices in Golem from 800 euros to 1000 euros/m2.
Source: shqiperiaime.com.al
