The Albanian real estate market continues to grow, but if in 2023 the prices for real estate in Tirana and Dubai were close, now the capital of Albania is more attractive — the average cost of luxury real estate there is about €2000-€3000 per sq.m. Moreover, investors from the EU, where the cost per square meter of luxury properties has long exceeded €3000-€5000, are also paying attention to it.

Therefore, today we will answer the current questions related to the Albanian market: how to buy real estate in Albania? How much do properties cost in the country? Can foreigners take out a mortgage to buy a home, and what associated costs await you during the transaction?

Foreigners have the same rights to buy real estate in Albania as local residents — both in the capital and on the coast. The exception is agricultural land with an area of ​​more than 1000 sq.m. — to buy them, you will need to open a company in the country.

And through the purchase of real estate, you can also get a residence permit in Albania: for this, the living area of ​​the apartment must be at least 20 sq.m. per person. The cost of the property does not matter.

Contents:

  1. Buying Property in Albania Step by Step
  2. Additional Costs When Buying Property in Albania
  3. Average Cost of Property in Albania
  4. Buying a Home in Albania with a Mortgage

Buying Property in Albania Step by Step

What you need to do to buy a property in Albania:

1. Book the property and make a deposit.

You can reserve the selected property by signing a preliminary contract with the seller and making a deposit.

First, the notary checks the property and makes a request to the National Cadastral Agency. Within a few days, it provides up-to-date information about the property in electronic form, which is valid for 30 days. After that, the notary draws up the contract’s text and certifies it.

Then, for the period specified in the contract, the notary blocks the property in the cadastral agency. This means that during this time, no legal actions can be performed with respect to the property.

Immediately after signing the preliminary contract, you must deposit 10% of the total cost of the property on the secondary real estate market, or 30% of the price on the new building market.

However, in the case of new buildings, the amount of the advance payment and the possibility of concessions will depend on the developer.

2. Pay for the deal.

Full payment must be made within a week after signing the preliminary agreement. If payment is made in installments, the payment period is up to several months. The buyer transfers the money to the notary’s transit account to ensure the transparency of the transaction. Notaries also sometimes accept cash (this is legal). The funds in the notary’s transit account are kept until the purchase agreement is signed and the buyer is issued a certificate of title.

3. Conclude a sales contract.

The main sales contract is signed only after the transaction has been fully paid for.

If you are buying a property from a developer, the final contract or notarial deed of sale is signed only after the construction is completed and the property is put into operation.

The official transfer of the owner’s title rights is documented in the state registry.

Important. When signing the final sales contract, the presence of a translator certified by the Ministry of Justice of Albania is required if the buyer does not speak the language in which the contract is drawn up. The contract is signed by a notary and a certified translator.

4. Register ownership.

Once the notary has certified the purchase and sale agreement, the transaction will be registered with the National Cadastre Agency. This occurs within 30 working days after the agreement is registered with the notary. The new owner of the residential property can receive a certificate of ownership in either paper or electronic form.

Additional Costs When Buying Property in Albania

When buying real estate in Albania, you should expect the following associated costs:

  • Registration fee — €15—€35 depending on the region and type of property.
  • Notary fee — €150—€450.
  • Real estate agent commission is split between the seller (2%) and the buyer (1%). In some cases, the agent commission may already be included in the price.

For new buildings, the following are additionally paid:

  • Municipal fee of 0.1–2.5% of the contract amount (depending on the region).
  • Real estate insurance — 1% of the transaction amount. Insurance is valid for 10 years.

There is no property tax in Albania, except for a local tax, which is levied only in the capital, Tirana, and amounts to approximately €20. However, the government is actively discussing the introduction of a countrywide property tax of €1 per square meter per year.

Average Cost of Property in Albania

You can buy a 90 sq.m. apartment in Albania for €105,000—€180,000 in Tirana (≈€1,171—€2,000 per sq.m.) and for €80,000—€150,000 (≈€900—€1,700 per sq.m.) in coastal cities such as Durrës, Vlora, Saranda.

The rent for a one-room apartment in Albania is approximately €300—€450 per month, in coastal cities the cost is slightly lower — €250—€400 per month. You can rent a three-room apartment in the capital for €500—€800, and on the coast for €400—€700.

Utility bills for an 85–90 sq.m. apartment in 2025 are €50—€120 per month, depending on the region and season. The Internet costs €10—€20 per month.

“An apartment that cost €90,000 a year ago is now worth about €130,000.” Realtor on the real estate market in Albania

Buying a Home in Albania with a Mortgage

Mortgage financing is not available to non-residents, although some banks may consider applications from foreigners with a residence permit or when registering a company in Albania. Conditions are individual and require consultation with the bank. For local residents, most banks offer interest rates of 5.5–7.39%, depending on the bank and loan terms.

On our website, you can find the right real estate agency in Albania.