Vlora and Durres, with the lowest rents in Europe / But they recorded an increase during 2024 due to tourism
According to the latest Property Index 2025 report by Deloitte, the cities of Vlora and Durrës are ranked among the most affordable for renters in Europe, but at the same time have also seen a significant increase in rental prices over the last year.
At the bottom of the list of European cities in terms of average rental price per square meter, Durrës and Vlora stand at €4.9/m² and €5.0/m² respectively, well below cities like Luxembourg (€43.4/m²), Paris (€32.0/m²) or Dublin (€31.7/m²), which have the highest prices in Europe. However, these Albanian cities have experienced strong annual rent growth, with Vlora marking +25% and Durrës +22.5% compared to last year.
The report notes that this trend is closely linked to the high seasonal demand for short-term rentals driven by tourism, especially during the summer months. Many owners have switched from long-term rentals to platforms like Airbnb, reducing the supply for local residents and increasing prices.
Compared to other European cities, such as Banja Luka which leads with a growth of 37.8%, or Debrecen with 24.8%, Vlora and Durres confirm that the Albanian rental market is entering a new phase of development. This growth reflects not only the strength of the tourism sector, but also the changing dynamics of the housing market in the country's coastal cities.
Meanwhile, several other European cities such as Antwerp and Istanbul have seen rents fall, showing a different picture of housing affordability on the continent. In contrast, Albanian cities are facing new pressures due to the combination of tourism and a lack of sustainable long-term housing supply.
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