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Prices don't stop: Apartments in Tirana reach their highest level ever

2026-07-23 08:13:14Biznes SHKRUAR NGA REDAKSIA VOX
Prices don't stop: Apartments in Tirana reach their highest level ever
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The average sale price of apartments in Tirana reaches record levels. By March 2026, the average price for apartments had reached 2,141 euros/m².

The median price has reached 2,046 euros per square meter.

Data on the performance of average apartment prices from 2005 to the first quarter of 2026 have been published in the "Keydata Albania" index of "Çelësi Media Group".

The index includes a mix of data, including resold and new apartment prices, however the majority of the market reflected in the index is based on resold apartment prices.

In 7 years, apartment prices in Tirana have doubled.

Compared to the first quarter of 2019, when growth accelerated, average apartment prices in the first quarter of 2026 have doubled. From 964 euros per square meter, the average price reaches 2,141 euros per square meter, or 122% more.

Compared to 2005, the earliest year when the calculation began, and the average price was 664 euros/m², the price increase is about 222% more.

The average price of apartments in 21 years has more than tripled compared to 2005.

There were also changes in average apartment prices for the three main areas analyzed by the index.

In the former Blloku area, the average sales price reached 3,003 euros per square meter by March 2026 from 1,574 euros per square meter, which was the price in the first quarter of 2022. Compared to the same period 4 years ago, the average price in this area has increased by 90%.

Within the Small Ring Road of Tirana, the average price has reached 2,431 euros per square meter from 1,269 euros in the first quarter of 2022. Even here, prices have increased by about 92% compared to 4 years ago.

There has also been a price increase for apartments outside the Small Ring Road. In this area, the average price is 2,022 euros per square meter, up from 1,056 in the first quarter of 2022. An increase of 91.4%.

According to the report, Chart 1 presents the time evolution curve of the real apartment sales price index in Tirana for the period of 2020-2026. As a comparative basis for all periods included in the assessment, Keydata experts have defined the year 2005 as a period that meets the criteria and conditions of a stable moment for the real estate market. The index value for 2005 is set at 100.

Prices don't stop: Apartments in Tirana reach their highest level ever

From the first quarter of 2020 to the first quarter of 2026, the real sale price of apartments in Tirana has increased by 117%. Cumulative inflation for the quarters 2020-2026 is estimated at 77.3%.

Referring to the graph above, the apartment sales price index curve in Tirana has undergone slight fluctuations during this time period, among which we would highlight:

The main growth moments are listed below:

Third quarter 2020 to second quarter 2023; the index increased by: 3.17%; 2.2%, 0.41%, 0.69% and 0.63%, 1.89%, 0.85%, 1.70%, 5.56%, 3.00%, 0.72% and 6.24% respectively from one quarter to the next. From the third quarter to the fourth quarter the index increased by a higher percentage, namely by 21%, from the fourth quarter to the first quarter of 2024, the index increased by 10.09%, from the first quarter to the second quarter of 2024, the index increased by 2.26% and from the second quarter to the third quarter it increased by 4.19%. The current period, the second quarter of 2025, is associated with an increase of 23% compared to the first quarter of 2025, while the third quarter compared to the second quarter has increased by a very small percentage, 0.91%. In the first quarter of 2026, real sales prices have increased by 9.5% compared to the last quarter of 2025.

A decline in the index is observed from the first quarter to the second quarter of 2020, a decrease of 2.37% in the apartment sales price index in Tirana, a decrease of 1.04% from the second quarter to the third quarter of 2023, a decrease in the current period from the third quarter to the fourth quarter of 2024 by 2.57% and from the last quarter of 2024 to the first quarter of 2025 by 5.26%. The last quarter of 2025 has been accompanied by a decrease in the apartment sales index in Tirana by 3.1% compared to the third quarter of 2025.

Prices don't stop: Apartments in Tirana reach their highest level ever

Chart 2 above shows the real average sale price of apartments in Tirana in Euro/m2 for the period of quarters 2020-2026, expressed in real value (deflated by the inflation rate) as well as the median prices (middle value). From the first quarter of 2020 to the first quarter of 2026, the level of real average prices in Tirana has moved within the interval of €1,030/m2 – €2,141/m2, while the median prices within the interval of €984/m2 to €2,046/m2.

In the first quarter of 2026, the average and median prices are estimated at €2,141/m2 and €2,046/m2, respectively. Compared to the last quarter of 2025, in this quarter, the average real sale prices of apartments in Tirana have increased by 2.4% and the median prices have increased by 4.5%.

Average prices, unlike the price index, are calculated in proportion to the number of apartments for sale in a given period. Thus, an increase or decrease in average prices should not necessarily be interpreted as a phenomenon that may have occurred in the real estate market. It can be interpreted as the fact that at a given moment, the supply of apartments has increased or decreased.

Prices don't stop: Apartments in Tirana reach their highest level ever

Chart 3 shows the real average and median sales price of apartments in Tirana (Euro/m2) in the area within the Small Ring Road for the period of 2020-2026. As can be seen from the chart, the real average sales price in this area has been increasing, in the range of 1,128 – 2,478 €/m2. Median prices fluctuate in the range of 1,074 – 2,282 €/m2.

A slight downward trend in prices in the area within the Small Ring Road is observed in the first quarter of 2026. In this quarter, the average price is estimated at €2,431/m2; the median price is estimated at €2,282/m2. Compared to the last quarter of 2025, in this quarter, average prices have decreased by 1.9% and median prices have increased by 1.3%.

Prices don't stop: Apartments in Tirana reach their highest level ever

Graph 4 shows the evolution curve of the real average price and median price (Euro/m2) of apartments in the Blloku area. In this area, average sales prices have undergone considerable fluctuation, varying in the range of €1,462/m2-€3,003/m2, while median prices are within the range of €1,387/m2 -€3,004/m2.

A decrease in the level of real average prices is observed in the second quarter of 2020, 13.7%, followed by a larger increase of 20.7% compared to the previous quarter, a decrease of 3.2% from the fourth quarter of 2020 to the first quarter of 2021, followed by an increase of 6.2% and again an increase of 2.9% from the second quarter to the third quarter of 2021, with a decrease from the third to the fourth quarter of 1.4%, from the first to the second quarter an increase of 9.8% and an increase of 13.4% from the third quarter to the last quarter of 2022. Regarding the current period, in this first quarter of 2026, on average an apartment in the block area is sold for €3,003/m2, the median price is calculated at €3,004/m2. Average prices in this quarter compared to the fourth quarter of 2025 have increased by 1.8% while median prices have increased by 9.7%.

Prices don't stop: Apartments in Tirana reach their highest level ever

Chart 5 shows the evolution of the real average price and median sale price in Euro/m2 of apartments in the area outside the Small Ring Road. Real average prices in this area range from a range of €959/m2 to €2,022/m2 in the first quarter of 2026. Median prices range from €930/m2 – €1,951/m2.

The first quarter of 2026 is characterized by an increase in the average sale prices of apartments in this area. The average real prices are estimated at €2,022/m2, while the median prices are at €1,951/m2, experiencing an increase of 3.3%, while the median prices have increased by 5.7% compared to the fourth quarter of 2025. / D.Azo

 

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