Property revaluation, high price "crash" - Pipiria: AirBnbs also affected the rental housing market
The postponement of property revaluation was one of the main reasons for the 44.5% increase in housing prices in the second half of 2024, which has also led to an increase in rents.
According to the Executive Director of the Albanian Real Estate Association (NAREA), as a result of the wait for the revaluation, many properties that were for resale have not been put up for sale.
AirBnb has also contributed to the increase in rental prices, as many apartments are being rented out for short-term rather than long-term rentals.
Regarding the decline in demand for property from foreign residents, Pipiria also stated that this has come as a result of the lack of documentation, namely the lack of ownership certificates for new constructions.
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