Property prices fell in the second half of 2022

1 Maj 2023, 08:25Economy TEMA

Albanians paid less for the purchase of new homes during the second half of 2022 than the first half of the year. A report released by the Bank of Albania suggests that the average price of properties sold in the second half of the year was down by 9%. As a result, sales have been higher.

In Tirana, the index of sales saw a fall of 11%. Nonetheless, compared to 2021, the average price of properties sold throughout the country remains 17% higher.

The analysis suggests that prices now may have entered a phase of normalization following a 28% increase in the first half of 2022.

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