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The news that the Tirana Ring Road would open to traffic in December 2024 has been a strong signal for the real estate market to reassess prices.
Ervin Demirxhiu, real estate agent, says that before the completion of this project, a significant increase in property prices began.
" Today, along the Great Ring Road, Paskuqani and the 5 Maji neighborhood are two new poles that have an increased interest in purchasing. We have two very sought-after areas as there are many buildings under construction. Above all, they are areas that have large and serious projects and have aroused the interest of citizens. In the areas along the ring road, prices have increased by 200-300 euros per square meter. Specifically, in Shkoza, the price has gone from 900 to 1100-1200 euros per square meter. In Paskuqani, more or less the same prices. Constructions in the pit, in Bathore, are being sold for 800 euros per square meter. I am not mentioning Farka because it is considered an elite area", explained Ervin Demirxhiu, a real estate agent, during an interview for the E-ZONE show.
According to him, demand remains high even at the beginning of the year. According to him, there are no overvalued areas, as long as there are sales in them.
" I think that prices may stabilize this year. We do not expect a decrease. But we do not expect an increase in general either. An exception may be undeveloped areas that are considered good and have high interest in purchasing. Individuals have a bigger problem with the payment method. The bottleneck for most of them is the lack of collateral to get a loan ," Demirxhiu explained on Vizion Plus.
Regarding the rental market, with the increase in these investments and the completion of construction, there will be an increased supply in the market, therefore the signals coming from the market are that rental prices will not increase.
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