The prices of luxury apartments in Tirana, the capital of Albania, are already almost equal to those in Dubai. And this is not the limit.

Here are some examples. In the residential area of Marina in Dubai, housing prices start at €5,100 per square meter. In this quarter, residents have access to the following services—gym, golf course, swimming pool on the terrace, etc.

As for Tirana, in 2022, the price of apartments in one of the city's luxury buildings, the “Book Building,” reached €5,000 per square meter, according to one sales office. And in the Rainbow Center, a 7-story building with shopping centers on two floors, apartments were sold for €5,000 per square meter.

It is worth pointing out that there are disputes over the prices announced by sales offices for luxury properties in Tirana. NAREA (National Albanian Real Estate Association) claims that the prices of real estate sold in Tirana do not exceed €3500 per square meter. “Above this level, the sale price is not available to buyers,” the organization states.

We stress that the majority of apartments in high-rise buildings in the capital are sold through the sales offices of construction companies. At the same time, real estate agencies sell only a few properties in such buildings.

“An apartment that cost €90,000 a year ago is now worth about €130,000.” Realtor on the real estate market in Albania

If we talk about resort real estate on the Albanian coast, property prices have reached a level of €3500 per square meter. If we compare with Dubai, then in the “Dubai Maritime City,” for example, prices for apartments in the first line start at €4900 per square meter.

What about new buildings? In new buildings in Tirana, for example in the area of the Block, apartment prices are offered in the range of €3500 per square meter. In new buildings at the entrance to the Paris Commune, prices have reached €2200 per square meter.

Experts predict the following: Ilda Zaloshnya of real estate agency “Tochka” believes that the upward trend this year will be only in elite areas of Tirana, while in other residential areas will be price stagnation; Jonian Antoni, the CEO of Century21, also says that in the short term, for the next 2–3 years, there will be no more growth in real estate prices.