Tirana real estate demand falls amid SPAK investigations

The real estate market in Tirana is experiencing a decline in demand for apartments, driven by two primary factors: intensified investigations by the Special Anti-Corruption and Organized Crime Structure (SPAK) and unaffordable pricing.

Real estate agents report that SPAK’s investigations and the subsequent seizure of assets from political figures, administrators, and criminal groups have reduced demand from buyers using informal funds. Additionally, a significant gap between apartment prices and average family incomes has stifled demand from new families and legitimate investors.

Market indicators suggest potential price adjustments. Some agencies have begun offering units in Tirana towers at promotional rates. For example, in the ‘Tirana’s Rock’ development, prices have been seen at approximately 3,700–3,800 euros per square meter, down from the typical 4,000–4,500 euro range.