15.7 Years of Salary for a Home / Albania Ranks Third in Europe for the Gap Between Wages and Housing Prices

Buying a home in Albania requires an average of 15.7 years of full income from the average salary, not counting living expenses and taxes. The data come from the latest United Nations report for the period 2010–2023, which ranks Albania third in Europe for the gap between wages and property prices.

According to the report, only Monaco and Serbia have a larger disparity between citizens’ purchasing power and housing costs. Meanwhile, in some Western Balkan countries, such as Serbia and Bosnia and Herzegovina, this indicator has been declining in recent years, whereas in Albania the trend has been upward since 2015.

The UN report highlights that housing affordability in Albania has worsened, as real estate market prices have risen faster than household incomes.

Beyond high housing costs, the report also raises concerns about living conditions. Albania ranks among the lowest in Europe for the safety of residential structures, with about 80% of the population living in dwellings considered safe and built with durable materials.

Another highlighted problem is overcrowding. According to UN data, around 58% of the Albanian population lives in overcrowded homes, where by international standards overcrowding is defined as more than three people per room.

On this indicator, Albania ranks second to last in Europe, only ahead of Montenegro, reflecting the high pressure on the housing market and the difficulties citizens face in securing affordable shelter.