Can foreigners buy property in Albania?

Yes. Foreigners are eligible to purchase any type of property - except land - under no specific restriction. The only type of property that can be purchased in specific circumstances is land. A foreigner can buy a land in Albania through an established company in the country.

Is residence permit required to buy a property in Albania?

No, you don’t need a residence permit to buy a property in Albania. As a foreigner you can buy a property in the country with no restrictions.

What are the step-by-step purchase procedures?

Buying a property in Albania is not that different from other countries. First step would be to research the market based on your needs, filter and select the alternatives. Negotiate the conditions. Then choose the property that suits you most. When it comes to ownership documents, the process depends on whether the property is still under construction or is it finished (see the difference between the documents here). If the property is still under construction, you must be at the nottary office to sign a PURCHASING CONTRACT FOR THE RIGHTS. That contract is signed also by the seller and is noterized. The nottary uploades an original copy to the Local Cadastre Agency. The Agency releases a registration document of the property under the buyers’ name and with the contract attached. When the property gets delivered and finally certified, you will be signing the final Ownership Transfer Contract and be equipped with the Certificate of Ownership.

What are the total costs of of buying a property in Albania?

The cost of buying a property in Albania correspond to:

1. Agency costs (usually buyer pays 1-2% for the work done by the agency).

2. Nottary fees including the papers and the registration (about 0.5% for a property under construction adding here another 0.5% when the property gets delivered and certified).

3. 10-year property insurance (paid when property gets certified which correspond to a price of 10 Euro / sqm).

Total costs for a property about 100k would be around 1,500 - 2,500 Euros.

Can foreigners get a mortgage in Albania?

It depends on the bank regulations and the type of deal that some banks have with Real Estate developers. Non Resident loans usually offer about 60% coverage. Book a consultation our staff to discuss more in details regarding your request.

Which regions are more affordable in Albania?

The most afforable beach areas are Qerret, Golem in Durres, and Shengjin. Prices for a one-bedroom apartment start from 55,000 Euro up to 150,000 Euro. The distance with the beach is about 300-500 meters.

For living purposes, most affordable areas in Tirana are the suburban areas where the prices for a one-bedroom apartment start from 70,000 Euros.

Other unpopular cities, prices start from 50,000 Euros.

Which regions are most premium in Albania?

Albanian riviera and Saranda have the most premium resorts offering sea-view one-bedroom apartments starting from 200,000 Euros up to 400,000 Euros.

Can I rent out the property?

Yes you can. You can rent it out by yourself via Airbnb, Booking and other platforms or you can make a deal with a local property management service to manage the property on your behalf. You can also use the property yourself anytime.