I get this question almost every week now.
Usually it comes after a long walk along the promenade, maybe after a viewing on Skënderbeu Street, when the sun is starting to drop behind Corfu and the light hits the sea in that silver-blue way only Saranda knows how to do.
“So… is this a bubble?”
It’s a fair question. Prices have gone up. Construction cranes are part of the skyline. More foreigners are asking about Saranda apartments for sale than ever before.
But living here. Working here. Watching this market from inside, not from headlines — I see something very different.
Let me explain.
First, What Does a Bubble Actually Feel Like?
A bubble feels irrational.
It feels like people buying without seeing.
Like banks throwing money at anyone who asks.
Like prices rising without demand to support them.
That’s not what I see in Saranda.
What I see is steady demand. Measured decisions. Buyers who visit three times before committing. Families who sit down for coffee, talk to neighbors, ask about schools, about winter life — not just summer Instagram photos.
Just a few days ago, I was showing a newly renovated one-bedroom near Rruga e Flamurit, close to the city center. Nothing flashy. Just well done, practical, comfortable. The kind of apartment that works for long-term living or as a smart investment.
When the client stepped onto the balcony and heard the faint sound of church bells mixing with the traffic hum, he smiled. Not a loud reaction. Just a quiet nod. “This feels real,” he said.
That’s not speculation. That’s connection.
For reference, this is the type of property I mean — a simple, well-renovated apartment in the center that works both as a home and an income generator:
https://www.vivaview.al/en/properties/1-bedroom-apartment-for-sale-in-saranda-property-near-city-center-on-rruga-e-flamurit
Not hype. Just solid.
Yes, Prices Have Increased. But Why?
Let’s be honest — prices are not what they were five years ago.
Beachfront property that once felt almost underpriced compared to the rest of the Mediterranean is now aligning closer to its true value. Seaview apartments that were once overlooked are now carefully designed, better built, and priced accordingly.
But here’s the difference:
We started from very low levels.
Compared to Italy, Greece, Spain — the Albanian Riviera is still significantly more affordable. And I truly believe Saranda offers the best value on the entire Mediterranean coast. I say that not as a salesman, but as someone who has watched buyers compare numbers side by side.
And more importantly, the infrastructure is improving at the same time demand is increasing. That’s not bubble behavior. That’s maturation.
What I See on the Ground (Not Just Online)
In the mornings, I sometimes stop by a small café just above the old port area. Builders, engineers, agents — we all pass through there. You can tell a lot about the market from those conversations.
Nobody is saying, “Buy anything, it will double tomorrow.”
Instead, we talk about quality. About which developer finishes properly. About insulation. About long-term rental demand in winter.
That tells me something important:
The market is thinking long-term.
Even projects like the new 2025 duplexes in Ksamil — yes, they’re luxury. Yes, they have two swimming pools, underground parking, security, privacy, and they’re only 300 meters from the beach and center. But they’re not random. They’re responding to a very specific buyer profile: families and investors looking for controlled ROI, sometimes up to 16% annually.
Here’s the type of project I’m referring to:
https://www.vivaview.al/en/properties/luxury-duplex-for-sale-in-ksamil-new-building-pool-near-beach-139m2
It’s refined. Structured. Thought through.
That’s not bubble energy. That’s strategic development.
Let’s Talk Supply and Demand
Saranda is not a massive city. Geography limits over-expansion. You can’t build endlessly into the sea. You can’t create new hills with seaview overnight.
And the demand side? It’s not just tourists anymore.
It’s:
Northern Europeans seeking affordable properties in warmer climates
Albanians from Tirana investing in second homes
Diaspora returning with long-term plans
Small investors diversifying into beachfront property
That diversity protects the market.
When one segment slows, another often continues.
A Quick Tangent (But Important)
Sometimes people forget this: Saranda is alive in winter.
Yes, summer is intense. Cafés are full. Ksamil is buzzing. But come November, you still see locals walking by the sea, fishermen near Limani, families gathering for Sunday lunch.
Real communities create stable property markets.
If this were purely a seasonal playground with empty streets six months a year, I would worry more.
The Villa Market: A Different Story
Now, villas are another conversation.
There’s strong demand for privacy. Especially in quieter neighborhoods like Surra, just outside the busy center. Spacious layouts, private swimming pools, safe areas for children.
A project like this — a private villa in Saranda with a pool in a peaceful area — reflects that shift toward quality over quantity:
https://www.vivaview.al/en/properties/private-villa-for-sale-in-saranda-albania-with-swimming-pool-surra
It’s not mass-produced. It’s rare. And rarity supports value.
I’ve noticed that villa buyers are even more cautious than apartment buyers. They ask detailed questions. They bring architects. They negotiate based on facts, not emotion.
That’s healthy.
What About Land?
Land prices in places like Borsh have also increased. But again, context matters.
Borsh is still largely untouched. Olive trees. Long quiet beaches. A completely different rhythm compared to Saranda.
When someone buys seaview land there, it’s usually with a 5–10 year horizon in mind.
For example:
https://www.vivaview.al/en/properties/seaview-land-property-for-sale-in-borsh-albania
That’s not speculation. That’s patience.
And patience is the opposite of a bubble.
Commercial Spaces: The Market’s Health Indicator
Here’s something most people overlook.
Commercial spaces tell you the truth about a city’s health.
If shops are empty and restaurants closing, then yes — you worry.
But in Saranda? First-line commercial spaces near the beach are in demand. Businesses want exposure. Tour operators, cafés, boutique shops.
A commercial space 50 meters from the beach with terrace and parking isn’t sitting empty for long:
https://www.vivaview.al/en/properties/perfect-commercial-shop-for-rent-in-saranda-234m2-terrace-parking-50m-from-beach-first-line-location
Active business = active city.
Active city = sustainable property demand.
Are There Risks? Of Course.
No market is perfect.
Some developers overprice. Some buyers expect unrealistic returns. Construction must remain controlled. Infrastructure must keep pace.
But those are growth challenges — not collapse signals.
And honestly, if you walk through the neighborhoods and talk to people instead of scrolling headlines, you feel stability more than frenzy.
So… Is There a Bubble?
In my opinion?
No.
There is growth.
There is international attention.
There is rising visibility for the Albanian Riviera.
But there is also real demand, real community, and still — very importantly — affordable properties compared to the rest of the Mediterranean.
Prices may adjust. They always do. Markets breathe. But what I see is a city finding its value, not inflating beyond reality.
Final Thought
Yesterday evening, I drove up toward Lëkurësi Castle after a long day of viewings. From there, you see everything — the curve of the bay, the lights of Corfu in the distance, the buildings spreading gently across the hills.
It doesn’t look like a bubble.
It looks like a city growing into itself.
And if you ask me — someone who has walked these streets for years, who has seen fishermen become restaurant owners, old houses turn into modern seaview apartments — this growth feels earned.
Not artificial.
If you’re considering investing, don’t ask only “Is it a bubble?”
Ask instead:
Is this a place people will still want to live in ten years?
From what I see every day, the answer is yes.
