Real estate revaluation, Minister Malaj meets builders and business associations
Under the leadership of Minister Petrit Malaj, several meetings with interest groups were held today at the premises of the Ministry of Finance for the public consultation of the draft law "On the revaluation of immovable property" and the draft decision "On the approval of the methodology, rules and procedures for determining the taxable value of immovable property "Buildings", the calculation of the tax on the building and its payment".
Consultative meetings were held with the Builders Association of Albania, Chambers of Commerce and business associations, as well as with representatives of companies operating in the real estate market.
Minister Malaj assessed the importance of the public consultation process of these legal initiatives and stressed the need for dialogue with interested parties, in order to have their most efficient implementation, the highest possible benefit from citizens and businesses related to the real estate sector. In this context, the Minister invited representatives of interest groups to provide their professional opinions and comments, a process that, among other things, aims to increase transparency, predictability of tax policies, and partnership in addressing the issues correctly would be very important.
"The new methodology for calculating local taxes on real estate, the new reference prices and the revaluation will enter into force on January 1, 2026. This will give individuals and businesses sufficient time during the next year to evaluate their assets based on market value, and to make tax payments on these values", said Mr. Malaj.
The Minister emphasized that the draft law on revaluation aims to create a legal framework that enables individuals and legal entities to adjust the value of their properties to the market value, in conditions when real estate prices are increasing. Experience from previous laws has shown that citizens have had a high interest in taking advantage of the possibility of revaluation, which has been reflected in the increase in the number of applications and transactions registered with the State Cadastre Agency.
Regarding the reference prices, the Minister of Finance noted that they have not been revised since 2016, with the exception of the Municipality of Tirana, while market prices have increased significantly. For this reason, said Mr. Malaj, a new set of reference prices has been drafted by a large working group, based on a methodology that brings them closer to market values. To derive them, 16,800 transactions in 12 regions of Albania were analyzed, for a 3-year period. Also, new areas have been added, a total of 119 areas from the 65 that are currently there - with the aim of making the reference prices better reflect the market value in each specific area. These areas are accompanied by the relevant maps, where the boundaries and the average price per square meter of residential area have been determined. To facilitate the work of local tax and tariff structures, it is proposed that these maps be published electronically on the official website of the State Authority for Geospatial Information/ASIG.
Today's meetings with interest groups were held following the public consultation process for these two legal initiatives, which began with their publication in July 2025 in the Electronic Register for Public Notices and Consultations.
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