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Selling properties? Slower in Tirana, those on the coast and suburbs lead

2024-09-10 13:28:22Biznes SHKRUAR NGA REDAKSIA VOX

Selling properties? Slower in Tirana, those on the coast and suburbs lead

The first half of the year recorded fewer properties sold compared to the previous period. According to a survey conducted with real estate agents by the Bank of Albania, the number of entities that made sales was somewhat lower than that of the previous six months.

The total number of properties sold was 928, also down from the previous period. Meanwhile, the average number of properties sold by each entity during the first half of 2024 resulted in around 5, from the value of 7 reported during the second half of 2023.

Although properties located in the center and outskirts of cities again result in the highest number of sales, properties outside the city have recorded the greatest growth. This shows that more and more people prefer or consider it more affordable to buy an apartment away from the noise of the city.

Specifically, about 35% of the sales realized during the first half of 2024 throughout the territory are represented by those located in the most preferred areas within the city, from the 43% that was during the previous period, 43% of the properties sold were built in the suburbs, within the city, from 48% in the previous period and about 22% built outside the city, from 9% last six months.

The average time to sell homes nationally fell slightly to 10.5 months from 10.9 months in the previous survey. For Tirana, the average sales time has increased slightly, from 8.3 to 9.7 months. The average time of sale in coastal areas has shortened significantly, to 5.9 from 10.9 months, while for other areas the duration of sale was only slightly shorter than in the previous six months, falling from 13.6 to 12.9 months.

 

 


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