Albania
A hidden gem of the Balkans, waiting to share its secrets.
We spent several weeks in Albania on three separate visits and stayed in Tirana, the capital, Vlores, Durres, Berat, Shkoder and Saranda on the Albanian Riveria. The people were very friendly, English was widely spoken and we felt safe everywhere we went.
The country is bound by Montenegro and Kosovo to the north, North Macedonia to the west and Greece to the south.
Albania’s dictatorship was among the harshest in Europe before political change in 1991. Albania is now an open, progressive state, and in order to align with the Western World, it joined NATO in 2009. It applied for EU membership on 28 April 2009 and has since June 2014 been an official candidate for accession. The Council of the European Union decided in March 2020 to open accession negotiations with Albania.
In the past 10 years, the country has experienced an increasing number of tourists, and the opening of the Vlores International Airport in June 2026 will significantly boost visitors. Plans are even afoot for the construction of an international airport near Gjirokaster, which will provide impetus to both the tourist and property markets.
Saranda has a population of around 33,000 and is the largest city in the south. It has stunning beaches with crystal-clear turquoise waters, and its charming promenade offers scenic walks with breathtaking views of the Ionian Sea. Nearby attractions include the UNESCO World Heritage Site at Butrint National Park, The Blue Eye freshwater spring, Ksamil Islands and beaches, and the beautiful island of Corfu, which is just a 30-minute ferry ride away.
Gjirokaster is only a 55-minute drive from Saranda and is a UNESCO World Heritage Site with cosy cobbled streets and spectacular views over the valley from the castle and the bazaar area. It is world-class.
In recent years, there has been a surge in the number of Italians visiting Albania, primarily due to significantly lower costs than in Italy. The added bonus is that there are car ferries from Brindisi, Italy, to Vlores, Albania, which are affordable and take 6-7 hours. We travelled on these and found them enjoyable and relaxing, avoiding the need to hire a car.
Property values have steadily increased in Saranda in recent years, with most buyers coming from Scandinavian and other European countries. The real estate company who we have a relationship with is one of the largest in Saranda and has a broad range of off-the-plan and existing properties. We inspected a number of these and were surprised at how affordable they were and often with views over the Ionian Sea.
After years of isolation and flying under the radar, we believe that the property market in Saranda and the surrounding coastal regions will continue to appreciate. The country and region are gaining increasing exposure and a significant increase in the number of tourists, which will be aided by the opening of the Vlores International Airport.
The general consensus of most professionals and tourist operators is that the Albania Riveria, in general, and Saranda, in particular, offer similar favourable conditions and attractions to higher profile destinations such as Greece and Croatia, etc., with significantly lower costs, which will continue to drive both the property and tourism markets.
Indicative Prices (2025) | Saranda Apartments (all with sea views)
*Prices shown are based on an exchange rate of 1.72 and do not include taxes or associated purchase expenses
€900,000 (AUD$1,548,000) – penthouse with 3 bedrooms and 2 bathrooms – 228 sqm (we inspected this apartment and the views were stunning)
€496,000 (AUD$853,000) – penthouse with 5 bedrooms and 5 bathrooms – 248 sqm
€360,000 (AUD$619,000) - apartment with 3 bedrooms and 2 bathrooms
€295,000 (AUD$507,000) – apartment with 3 bedrooms and 2 bathrooms
€265,000 (AUD$455,000) – apartment with 3 bedrooms and 2 bathrooms
€220,000 (AUD$378,000) – apartment with two bedrooms and 2 bathrooms
