Tirana and Vlora were the two cities with the highest property price increases in Europe last year. The ranking comes from the "Real Estate Index 2025" report prepared by international giant Deloitte.
According to the report, the city with the strongest property price growth in Europe was Krakow, where real estate prices rose by 28.1 percent on an annual basis. But in second and third place with the highest price growth in Europe were two Albanian cities.
Capital cities with the highest property price growth in 2024
In Tirana, prices rose by 25 percent, the same as in Vlora. Meanwhile, in fourth place was another Polish city, or more precisely its capital, Warsaw, with 21.8 percent.
"Both Albanian cities have experienced increased interest from domestic and international buyers. Vlora in particular has benefited from rapid tourism expansion and several major infrastructure projects," notes Deloitte.
Albania
According to the report, housing prices in Albania increased by an average of 16.5% nationally during 2024, reaching an average of €1,620/m². Tirana (+25%) and Vlora (+25%) had among the highest increases in Europe. Durrës, at €1,330/m², remains among the most affordable cities.
The Deloitte report highlights that Albania is gaining ground as a new destination for real estate investments. This is because 18% of buyers are non-residents, mainly from EU countries, who see Albania as an emerging market with profit potential.
Meanwhile, the report highlights that major infrastructure projects, such as the new Vlora airport and improved road connections, are further increasing interest in the country's coastal areas.
Deloitte highlights that Albania still continues to have competitive real estate prices, which are lower than the European average, making the Albanian market attractive to investors seeking the combination of rapid growth with low entry costs.
The report shows that the Albanian market is dynamic but with affordability challenges. Prices are rising faster than incomes, especially in Tirana and coastal cities. If demand continues to outpace supply, affordability will remain a problem.
Editorial
