The sale of properties in a year of crisis is "boiling", in 2022 Albanians pay 62 million euros in tax, 53% more than in 2021

The real estate market in the country continues to be dynamic and to have a significant contribution to the state treasury. Referring to official data from the General Directorate of Taxes, in 2022, Albanian citizens paid more tax for real estate transactions. Specifically, Albanians have poured 61.8 million euros into the state budget during the past year, or 53.1 percent more than in 2021. But what has influenced this high growth in a year of crisis for Albanian citizens, where they have faced prices increased fuel, food, services, etc.? According to the law in force on income tax, the capital gain realized as a result of the transfer of the right of ownership over real estate, building, land and agricultural land, is taxed at the rate of 15%. So, in other words, Albanian citizens pay a 15 percent tax on the difference between the purchase value of the property and its sale value for each sale of a home, commercial space or real estate. If an apartment was bought or revalued for 60,000 euros and sold for 80,000 euros, the seller pays 15 percent of the difference of 20,000 euros, or 3,000 euros. Thus, one of the reasons for the increase in the value of the tax paid may be the increase in housing prices during 2022, which has brought higher benefits to citizens but also more tax liability. Another reason is the fact that despite the crisis as a whole, real estate agencies have reported that there has been no decrease in transactions,