Durrës, the coastal city known for its history, culture, and stunning landscapes, has entered a rapid development phase, particularly in the real estate sector. Following a challenging period after the pandemic, 2024 has brought a significant increase in interest in real estate, marking a positive turnaround for the market. This blog will explore the progress of the real estate market in Durrës during 2024, analyzing key developments, trends, and opportunities the city offers to investors and buyers.
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Increasing Demand for Coastal and Luxury Properties
One of the most noticeable changes in the Durrës real estate market during 2024 is the growing demand for coastal properties and luxury real estate. Known for its marvelous coastline and major port, Durrës has seen increased investments, especially in areas near the sea. Coastal properties are increasingly sought after by those looking to live near the sea, as well as by investors aiming to develop tourism and commercial projects.
Another factor driving this demand is improved infrastructure, which has made Durrës more accessible and attractive to both local and international buyers. The demand for luxury apartments, villas, and coastal complexes has peaked, especially in popular areas such as Kavaja, Rrashbull, and Golem, where prices are rising and development opportunities abound. -
Rising Prices and Market Stability
Durrës has seen moderate increases in real estate prices during 2024. While prices remain competitive compared to other coastal cities in the region, the high demand for properties, especially near the coast and in urban centers, has contributed to price growth.
The year 2024 has been marked by market stabilization, with the most sought-after properties, such as those near beaches and modern complexes with developed infrastructure, recording price increases. Meanwhile, other peripheral areas of the city remain more affordable, offering excellent opportunities for those looking to invest in properties with development potential.
Rental prices have also risen, reflecting the increasing demand for apartments and villas, especially during the summer period when Durrës attracts a large number of tourists and visitors. -
Major Projects and Infrastructure Development
Another key factor influencing the development of the real estate market in Durrës is significant infrastructure investment. The expansion of the Port of Durrës, construction of new roads, improvements in public transport, and tourism development have contributed to the rising value of real estate and attracting investors.
A concrete example of major developments is the new tourist port project, which has started construction and will provide immense opportunities for tourism development and significant investments in commercial and residential real estate. This project will enhance Durrës’ connections with other cities in the region and create new opportunities for tourism and luxury real estate development.
Additionally, investments in road improvements and faster connections to Tirana and other cities in Albania and the region have made Durrës more attractive to buyers and investors seeking development opportunities and high long-term returns. -
Demand for Commercial Spaces and Tourism
One of the sectors experiencing substantial growth is the demand for commercial spaces. Foreign investors, especially those from Italy and Greece, are interested in spaces for restaurants, hotels, shops, and other businesses leveraging the tourism opportunities in Durrës. The demand for hotels and resorts has also reached high levels, prompting real estate developers to focus on projects offering good conditions for tourism and accommodation.
Another aspect driving growth is sustainable tourism development, with many investors seeking opportunities to develop environmentally friendly projects that provide eco-friendly and sustainable vacation options. Durrës has great potential in this area, offering a marvelous coastline and suitable spaces for developing this type of tourism. -
Conclusion: Future Perspectives
The year 2024 is a pivotal year for the real estate market in Durrës, with a steady increase in demand and ongoing developments that make this city one of the most attractive destinations for investors and buyers. Durrës is undergoing a period of modernization and development, offering numerous opportunities for those interested in investing in a coastal city with great potential.
The real estate market in Durrës remains an excellent opportunity for those looking to benefit from increasing demand and infrastructure development. With a strategic position, rising tourism, and ambitious infrastructure projects, Durrës has excellent prospects for the future.
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