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New local tax triggers hike in Tirana apartment prices

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2 mins read
9 years ago
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TIRANA, Jan. 26 – Apartment prices in Tirana are expected to undergo a hike ranging from Euro 50 to 120 this year due to higher taxes the municipality of Tirana has imposed on new constructions. The new prices reflect a 2016 review of the tax on the impact on infrastructure for new constructions in Tirana, increasing from 4 percent of the construction costs to 8 percent of the sale price, which developers described as four-fold hike. Apartments prices in Tirana vary from 700 to 2,500 euros/m2 in downtown Tirana compared to 400-650 euros/m2 in uptown areas of new ring road…

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Story Highlights

  • The new prices reflect a 2016 review of the tax on the impact on infrastructure for new constructions in Tirana, increasing from 4 percent of the construction costs to 8 percent of the sale price, which developers described as four-fold hike.

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