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The first signs of a construction "bubble" in Tirana, the real estate agent admits: The apartment sales market is 'cooling'

2025-07-04 23:10:41Biznes SHKRUAR NGA REDAKSIA VOX
Tirana

The first signs of a construction "bubble" in Tirana are clear. Even real estate agents, who were fighting to prevent this fact from being confirmed, now acknowledge this.

Real estate agent Armand Shkëmbi is one of many of his colleagues who are declaring that the construction and apartment sales market in Albania is "cooling off." Which means that prices have started to fall or apartments will remain unsold.

In a statement that Shkëmbi made on social networks, he also explained the reasons why. According to Shkëmbi, the problem in Albania starts with construction in the pit and the fact that builders do not use their own capital but the money from "orders" for apartments. But these buildings are not always built, which increases the risk of losing money, and we are talking about hundreds of thousands of euros. So there is also a piece of advice for all those who are interested in investing in real estate. 

"The property market in Tirana has started to show signs of cooling. What does this mean for you as an immigrant? Do not invest in empty mansions because there is a risk that they will not be built at all. Because Albanian builders build with buyers' money and not with their own capital. And since the market has started to cool, they have less money to build and risk not building the mansions at all. If you invested in such projects 6 months or 1 year ago, it is the ideal moment to sell these properties and get out of this situation in time. In responsibility, I would suggest that you keep in Tirana or in Albania any property with which you have an emotional connection, the house where you grew up, otherwise it is good to sell other properties and invest them where you live. Why? Because the Albanian market is good for speculation, but not for renting. Because the return from renting is 4-5% while markets like Northern England, for example, the return is "7% per year," Armand Shkëmbi says in the video.

The debate about "deflating" the construction bubble has begun after Albania has deepened its lead as Europe's "champion" in construction in 2024. But it seems that there are two parallels on the ground, as while in our country there are still big questions about people buying property, new buildings and towers are being built every day. Recently, the issue of construction has returned to everyone's focus, reports Zëri.

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