Fewer chances to buy a house in Tirana
06/05/2011 08:00
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More than one year after, the apartment prices in Tirana have started to increase again, driven by several factors.
The lacking of construction licenses, the blocking of bank loans and panic of the consumers due to the economic crisis have influenced recent apartment price increase in the Albanian metropolis, which had stopped the growing trend for the first time in 10 years .
But now the situation seems to have changed. Data indicate a revival of this sector, and the Bank of Albania notes that in the first trimester of 2011, real estate prices have increased.
More specifically, in the first trimester of 2011, apartment prices have increased by 1.5% compared to the first trimester of 2010.
The Bank of Albania says that from the end of 2009 and during all 2010, prices had remained almost unchanged. Different to other periods, constructors stopped the price increase, and there have been even lucrative offers for short periods.
The chances to buy a house in Tirana now are shrinking. Real estate agencies advertise offers starting from 80,000 Euros to 300,000 Euros around the center of Tirana, with spaces not greater than 130 square meters.
Compared to the fourth trimester of 2010, the price increase is 0.9 %, softer than one year ago.
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