Albania or the region, where is the property market more volatile? Prices have increased at a faster pace than in neighboring countries
According to Investropa's study, since the beginning of 2026, the real estate market in Albania is exhibiting a higher level of volatility compared to more consolidated markets such as Greece and Croatia, but similar to emerging countries such as Montenegro and North Macedonia. The relatively small size of the Albanian market makes it more sensitive to fluctuations in foreign investment and tourist flows, factors that directly affect demand and prices.
Over the past decade, price growth has been strong. In Tirana, apartments have increased from around 800–1,000 euros per square meter in 2015 to 2,300–2,700 euros per square meter in 2025, tripling in value in a decade. In comparison, more mature markets such as coastal Croatia have recorded more steady growth, around 40%–60% over the same period. On the other hand, property prices in Greece increased by around 7% across the country in the 12 months ending in January 2026, continuing the upward trend that has characterized the Greek market since 2018. Property prices in Montenegro also increased by around 20% in the last 12 months, based on official statistics comparing the third quarter of 2024 with the third quarter of 2025.
Analyses based on BIS, Eurostat and the Bank of Albania Financial Stability Report data show that Albania has experienced more pronounced cyclical fluctuations. However, the market has demonstrated moderate resilience during crises. During the global financial crisis of 2008–2012, prices fell by around 10%–20% in nominal terms and took 5–7 years to return to pre-crisis levels.
Historically, the areas that have held up best during downturns have been apartments in the center of Tirana, especially in areas like Blloku and near Skanderbeg Square, as well as beachfront properties in Saranda. These areas benefit from continued demand from both local buyers and foreign investors, making them more resilient in times of economic uncertainty.
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