Housing Price Index Remains Stable in Q2

The housing price index didn't reflect an important change in nominal terms during the second quarter of 2018, the Bank of Albania confirmed in the recent report on economic indicators. According to country's central bank, in real terms, the housing price index marked a decline by 2.5% compared to the consumer price index during the second quarter of 2018. In the meantime, the housing rent index saw a real decline by 7.6% during the second quarter of the year. The housing rent index remains stable and close to the historic average of the last ten years. Albanian capital Tirana is one of the cheapest cities for property investment for international citizens, but it highly expensive for the Albanian middle class. According to the current house price to income ratio, houses in Amsterdam, Berlin, Stockholm, Brussels, and Athens are cheaper compared to Tirana. Based on Numbeo's data, Albania ranks seventh out of 31 European cities regarding the housing prices for the first half of 2018.

Source: Albanian Daily News