"Old palaces will remain unsold!" Reference prices, Demirxhiu: All eyes on the coast
After the publication of new reference prices, old buildings risk being left out of the market.
"Always the ones that are most affected, or that will be damaged the most, are the old buildings, buildings that have been on the market for years will be penalized or may even remain unsold," says real estate agent Ervin Demirxhiu after the publication of the new reference prices.
The reference prices for apartments are preparing citizens for a new wave of growth in the coming years. But on the other hand, they bring a direct penalty for old buildings. Tirana, the beach area in Durrës and Sazan Island are among the points where the new price effects are expected to be felt the most.
"Normally, they will have a negative impact because it will be a burden on the citizen, and this will be more noticeable in properties that are below the reference price level," he said.
The largest increase in reference prices has certainly been seen in the areas where the new Port of Durres is being built by billionaire Mohamed Alabbar, with prices reaching up to 2,000 euros/m², as well as Sazan Island, where luxury resorts are expected to be built by the son-in-law of US President Donald Trump.
"For the coast, it was expected that we would have a large increase because reference prices have not been reviewed on the coast for years and market prices are very high," Demirxhiu declared.
Other coastal areas such as Shkëmbi i Kavajës, Golemi, Lezha and Saranda have also experienced significant increases in reference prices, shifting investors' attention towards the coast.
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