Albania is becoming a "paradise" for retirees/ Why are foreigners choosing to live in Albania?
Albania is rapidly becoming one of the most attractive retirement destinations in Europe. With its warm Mediterranean climate, Adriatic coastline and a significantly lower cost of living compared to Western European countries, the country is attracting more and more foreign retirees seeking a more affordable and quality life.
According to a study published by Investropa, the main reasons driving this trend are precisely low costs and favorable fiscal policies. Pensioners who stay more than 183 days a year in Albania can be considered tax residents, which in theory means taxation on global income. However, in practice, foreign pensions are often exempt from taxes for those who meet the criteria and are provided with the relevant residence permits.
Another important factor is the affordable cost of living. Foreign retirees usually choose private health insurance, which ranges from 8,400 to 26,000 lek per month, offering faster services and convenience in the economy.
In terms of daily expenses, a single retiree who cooks at home can afford a monthly food budget of 26,000 to 42,000 lekë, depending on lifestyle and consumption choices. This makes Albania a much more economical alternative compared to other European countries.
In terms of housing, new apartments in well-maintained buildings are considered the most favorable choice for retirees, as they require less maintenance and offer modern living conditions. On the other hand, individual houses outside of large cities may be cheaper, but often require additional investment and face infrastructure challenges.
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