Mortgages in Albania: What Locals Can Access vs. Foreign Buyers

If you’re thinking about buying property on the Albanian Riviera, chances are you’ve asked the same question I hear almost every week: “Can I get a mortgage in Albania as a foreigner?”

Let me give you the short answer right away, because there’s no reason to keep you guessing. No — foreigners cannot get mortgages inside Albania.

That reality surprises many first-time investors. I’ve seen people walk into my office in Saranda, fresh from a coffee on the promenade, convinced they’ll just do what they would in Italy, France, or Greece: walk into a local bank, sign a loan, and finance their seaview apartment. But Albania works differently. Let’s break it down.

Mortgages for Locals

For Albanian citizens, mortgages are very much an option. Local banks — Credins, Raiffeisen, OTP, Intesa — all provide long-term property loans. Depending on the bank, terms can stretch to 20 or even 30 years.

Interest rates usually float between 5–7%, sometimes a bit higher if it’s a riskier profile. Most loans are issued in Albanian Lek (ALL), though you’ll occasionally see Euro-denominated mortgages for certain developments in places like Tirana or Durres.

Still, the borrowing culture here is more conservative than in Western Europe. I remember sitting with a young couple from Gjirokastër last year. They were buying their first home in Saranda, excited about starting a family near the sea. Their loan covered 70% of the purchase price, but the bank required significant paperwork, guarantees, and even family collateral. That’s just how things work here — slower, stricter, but still possible if you’re a local.

Foreign Buyers: No Mortgage Access

Now here’s the key part for international investors: foreign citizens cannot get property loans from Albanian banks.

That means if you’re from Germany, Italy, the US, or anywhere else, you can’t walk into a bank in Tirana or Saranda and get a mortgage for your beachfront property. The system simply doesn’t allow it.

So what are the options? Either:

• Pay cash.
• Finance in your own country (personal or business loan) and bring the funds over.
• Or — and this is increasingly common — work directly with developers who offer installment plans during construction.

Why This Matters for Investors

For foreign buyers, this rule changes the game. You need more liquidity upfront to secure your apartment or villa.

There’s an upside, though. With no local debt tied to your name, your ownership here is cleaner, simpler, and less exposed to banking risks. Many clients tell me they actually feel more secure knowing that their property in Saranda or Ksamil is entirely theirs — no bank can ever touch it.

The obvious downside? Higher initial capital. You can’t spread the payments over 20–30 years the way locals do. You need to be ready with cash or alternative financing from back home.

Alternatives for Foreign Investors

Here’s where things get interesting. Just because you can’t get a mortgage in Albania doesn’t mean you’re locked out.

• Developer payment plans: A lot of new projects let you pay in tranches. For example, 30% on signing, then staged payments during construction, and the balance on delivery. That can stretch over 18–24 months, which eases the burden.
• Financing abroad: I’ve had clients from Scandinavia take personal or business loans at home (where interest rates are lower) and use those funds here.
• Partnerships: Some investors team up with local Albanians — friends, business partners, even extended family — to split capital and opportunities.

Last spring, I walked a Dutch client through a new project in Ksamil. He couldn’t get Albanian financing, but he structured the purchase with installments. When he saw the residence’s private pool sparkling under the morning sun, he just smiled and said, “This feels like a smarter move than putting money in my bank back home.”

Real Examples from the Market

Let me give you some context. If you’re looking at Saranda apartments for sale, one of the strongest opportunities right now is at Gold Residence . These are first-line units with full sea view, a private pool for residents, and even a private beach just one minute away. Of course, you’ll need cash or external financing, but the lifestyle — imagine stepping out of your building straight onto the Ionian coast — is unmatched.

In Ksamil, the brand-new White Residence just completed. Luxurious apartments, private swimming pool for the community, a quiet neighborhood, and only 7 minutes’ walk from the turquoise beaches. It’s the kind of place where you sip your morning coffee and hear nothing but seagulls and the occasional fisherman heading out to sea.

And for those who want something grander? Our own construction company has built White Villas in Borsh . Four luxury villas on the main road, each with three floors, private pool, big veranda, private parking, and 300m² of land. Surrounded by nothing but nature and open sea views, they’re just a short drive (7 minutes) from Borsh beach. I’ve visited them countless times during construction, and I’ll be honest: the evening silence there, broken only by cicadas, is something you don’t forget. These villas are available with 0% commission, because they’re direct from us as developers.

A Quick Tangent (Because This Is Real Life)

Sometimes when I take clients to viewings in Borsh, we stop at a small roadside café where the owner insists on giving us figs from his garden. That’s Albania for you. Transactions here are wrapped in hospitality. And those small cultural touches — the extra coffee you didn’t order, the neighbor dropping by to chat about your future garden — are what make owning property here different from anywhere else.

Back to mortgages, though.

Conclusion

So here’s the bottom line:

• Locals can get mortgages. Terms up to 20–30 years. Rates 5–7%. Mostly in ALL, sometimes in Euros.
• Foreign buyers cannot access Albanian mortgages. Cash, developer plans, or financing abroad are the only routes.

It may sound limiting, but it’s part of what keeps our market stable. Unlike other Mediterranean countries where easy credit fuels speculation, Albania’s real estate remains grounded. Prices rise steadily, not in bubbles. Ownership is cleaner. Investors know what they’re getting into.

And personally? I truly believe Saranda still offers the best value on the entire Mediterranean coast. Walk the promenade on a September evening, with the lights of Corfu twinkling across the water, and you’ll understand why.

If you’re ready to explore what’s possible, whether it’s a beachfront property in Ksamil, a seaview apartment in Saranda, or a quiet luxury villa in Borsh, the opportunities are here. They just require clarity — and sometimes, a bit more cash upfront.