Luxury apartments from €300,000 for sale in Tirana, Albania

Apartments asking €300,000 or more in Tirana have a median asking price of €372,500 and €2,692 per square metre, with half of them between €325,000 and €468,000. In Albania that budget buys the top of the market: a large flat or penthouse in a new tower in central Tirana, a first-line apartment with a wide sea view in Vlorë or Sarandë, or a new apartment on the Riviera above Dhërmi or Himarë. Compare the price per square metre with the whole market of apartments for sale in Tirana to see what the premium buys: floor, view, finish and the building's name, more than size.

59% of these apartments are still under construction. At the top of the market the developer matters even more than elsewhere: the premium is paid for the finish and the common parts, which exist only on paper when you sign, so visit the developer's completed buildings and write the specification into the contract.

In Tirana the luxury apartments are in the new towers around the centre, Blloku and the lake park: large flats, duplexes and penthouses with terraces, concierge buildings and underground parking, at prices per square metre that lead the country outside the Riviera. The market here is driven by Albanian buyers and the diaspora rather than by holiday demand, and resale is the easiest in the country.

The checks are the same as for any apartment, with the stakes higher: the title and the absence of mortgages at the State Cadastre, the building permit and the plans the unit is drawn on, the developer's track record, and for a flat sold from plans a notarised pre-sale contract registered at the cadastre under Article 50 of Law 111/2018, with the completion date, the penalty and the specification written in. Closing costs of about 4 to 7% apply at any price, and the annual property tax stays at about 0.05% of value. Our guide to property risks and due diligence in Albania lists the documents; our guide to investing in property in Albania explains why the expensive flats have the lowest rental yields and should be bought for use or for the long term.