The property revaluation campaign will start on January 1st of next year. The tax to be paid in the event of the sale and purchase of properties is proposed to be at the rate of 5 percent. The Ministry of Finance has submitted the draft law “On the revaluation of immovable property” for Public Consultation.
"All individuals who own real estate have the right, from January 1, 2026 to September 30, 2026, to have this property revalued at market value. Requests for revaluation submitted to the State Cadastre Agency, which have not been processed by September 30, 2026, are considered subject to revaluation under this law, if the tax payment for them is made by December 31, 2026."
The law will also include assets that are in the process of registration or legalization, while for legal entities, a reassessment by licensed experts will be required.
"Through this process, tax revenues are expected to increase and a fairer fiscal treatment of real estate is guaranteed. The law also includes the revaluation of properties in the registration process and establishes procedures for submitting requests, calculating tax and paying it accordingly."
The continuous increase in housing prices is one of the main reasons that has prompted the government to take this step.
"Data from the Bank of Albania show that housing prices, nationally, have increased significantly. In the first half of 2024 alone, the Fischer housing price index increased by 16.9%, while in the second half by 23.6%. This upward trend, compared to the last revaluation period in 2022, makes it necessary to update the value of real estate in line with market reality."
In the last 13 years, there have been 5 property revaluations, all of which have occurred before local or general parliamentary elections, with rates ranging from 1 percent in 2011 to 3 percent in the last two revaluations.
In mid-May, Socialist MP Blerina Gjylameti submitted to the Assembly the draft law on the revaluation of real estate, but the initiative remained in the Assembly's drawers. (A2 Televizion)
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