It’s no secret that Albania’s dazzling coast has generated plenty of buzz among international investors, with massive foreign capital pouring into this tiny country’s beaches and waterfront locales. With Jared and Ivanka Trump buying the rights to develop Sazan Island into an eco-luxury resort, the Dubai-based Emaar Group pledging €2 billion to transform the port of Durrës into one of the Mediterranean’s most modern and upscale marinas and other big real estate investors entering the arena, Albania is now under the spotlight as a European luxury real estate investment destination.
The allure of Albania lies in its relatively new emergence on the world stage as a booming tourist destination sporting unique seaside vistas, a central location on the European continent, rising property valuations and an inviting business atmosphere. The Albanian Riviera in particular has been attracting international investors seeking beauty, exclusivity and long-term value in Southern Europe.
The country’s newest and most exclusive real estate development project, Folie Village, is setting a new benchmark for luxury living in Albania. A gated community that offers premium villas with private access to the iconic Jalë Beach, Folie’s units offer long-term value by using the highest-quality materials and building standards in Europe and provide a seamless, turnkey ownership experience tailored to the needs of international buyers.
To better understand the appeal of Folie Village and the unique opportunity it offers investors looking for their next luxury villa in Albania, we sat down with Sindi Xhillari, the real estate developer at Millennium Business Group in charge of the project driving Albania’s luxury real estate market forward. Sindi gave us an insider’s look into the project, explaining the advantages it offers investors and what the future holds for Albania’s luxury real estate market.
For those researching villas in Albania and hearing about Folie Village for the first time, how would you describe the project?
Albania is in an interesting place right now – the country is emerging as a very attractive real estate investment destination, especially among high net-worth individuals and developers who are looking for that last “undiscovered gem” in Europe. The European luxury real estate market is already saturated with high-end projects, and a big issue many investors have told us they run into is that they all look and feel the same. They want an Italian property, a Greek property, something that feels very Mediterranean, and yet are finding that a lot of the offerings in the luxury real estate market are giving a kind of soulless feeling that doesn’t reflect the local environment at all.
As an Albanian real estate developer, I wanted to create a high-value product that would appeal to international tastes with all the modern facilities and amenities luxury investors are looking for, while preserving the unique local building traditions that have informed the architecture of southern Albanian homes for millennia. Folie Village is a beautiful blend of the modern and traditional – we are building this community as an extension of nearby Vuno, which is an ancient Albanian village overlooking the Ionian.
Each cluster within the development draws direct inspiration from Vuno’s historic layout – narrow stone paths, dense yet intimate housing arrangements and communal gathering spaces – while integrating modern infrastructure and design principles. On the highway to Folie, you’ll likely come across goats crossing the road and smell the medicinal herbs that villagers have picked for generations to brew tea after a long day of work. We wanted to create an experience and community that reflects the roots of the region while infusing it with the elegance, comfort and functionality of a world-class luxury development.
What kind of design and lifestyle does Folie Village offer buyers?
Each villa at Folie Village is crafted for comfort, privacy and style. It was really important to us to blend Mediterranean design with modern solutions like smart home systems, private infinity pools, attached parking spots and concierge-level amenities like holiday rental services. We really wanted the development to have a tight-knight, communal feeling where units are close enough to each other that you can get to know your neighbors, while still offering the luxurious experience of having an entire villa to yourself. The location of these units along the Bay of Jalë allow buyers to host get-togethers with loved ones, watch the sunset after a day at the beach and enjoy proximity to all the main attractions of southern Albania.
The complex will feature a casino, boutique shops, bars, cafes, restaurants and amenity spaces that will offer programs like yoga classes, gym services and a world-class spa. We are building out exclusive rooftop spaces and access to our vibrant beachside club. Seamlessly integrated with Folie Marine, our flagship five-star hotel, this commercial area will offer exclusive and effortless access between the hotel’s refined amenities and the surrounding complex.
How do you see Albania developing as a European luxury real estate destination?
Foreign interest in Albania – even interest by Albanians living outside the country who want to buy second homes or to have somewhere to come back to in the summers when they vacation with their families – is only increasing with each passing year. I don’t need to tell you that our country is no longer a secret, and that big names have already staked out their claims to Albania.
Albanians are very hospitable and welcoming people, and our country is home to incredible beaches, historical towns and cultural attractions. Albania welcomed over 10 million tourists in 2023, up from 6 million in 2019, so you can really see how the country’s changing as a tourism destination that will need these types of properties. All of the country’s attractions are turning it into a year-round point of interest for tourists and expatriates who want a slower and richer pace of living.
Albania’s location along the Mediterranean and in the heart of Europe also makes it a very attractive place for luxury investors who want to be close to other high-interest locations like Italy, Greece and Croatia, which are already well-established luxury real estate markets. I think the sky is the limit when it comes to Albania’s potential as a luxury real estate destination, and we’re only just starting to see the tip of the iceberg when it comes to what the country has to offer.
What should potential buyers know about buying property in Albania, especially if they’re coming from abroad?
When you’re a foreigner looking to invest in a developing market, it’s of course always important to find a trustworthy developer and legal assistance. In Albania especially, you need to be careful that the developer has all the legal documents handy when they break ground and that they are following all local regulations. It’s equally important in Albania to know who exactly holds the title to the property you want to purchase, and to make sure that there aren’t competing claims to the land or units.
Millennium Business Group has decades of experience assisting foreign buyers with the legal process and logistics around buying property in Albania. We’ve been in business for more than twenty five years and have completed over thirty different real estate investment projects in Albania, with 5 underway as we speak. Our projects span the commercial and residential sectors, and we have already delivered thousands of high-quality units to satisfied clients from all over the world. We’re the largest real estate developer in Albania and bring that expertise to every stage of the process – from due diligence and permitting to construction, finishing and post-sale support.
Why is now a good time to invest in luxury real estate in Albania?
Albanian real estate prices have seen a pretty steep rise over the past couple of years and don’t show signs of slowing down any time soon. Someone who purchased a villa along the Ionian coast five years ago has already seen their investment double in value, and the projections for the next 5-10 years are showing there’s still plenty of room for growth. Especially with Albania set to join the European Union within the next decade, most analysts and real estate developers are saying that there’s room for valuations to continue rising.
The regulatory environment is also highly favorable – the entire purchasing process is very straightforward and gives foreigners the same rights as locals when it comes to titles and land ownership. Albania’s infrastructure is also constantly being upgraded – they just opened a brand new tunnel through Llogara that makes the drive from Tirana to the south even faster than before, alongside the bypass and the new airport opening soon in Vlora. So, basically, the government, local developers and even small businesses are working in tandem to make Albania a very attractive luxury real estate investment destination because the entire country is working to make the roads better, travel here easier and the regulatory environment easy to navigate.
Those seeking to enter the Albanian luxury real estate game have the opportunity to own their own slice of heaven along the Mediterranean with Folie Village’s turnkey villas. These units offer the pinnacle of luxury living along the Ionian Sea and the opportunity to secure a home in Southern Europe’s rising economic star. Learn more about Folie’s villas on their website and book a consultation today to learn more about available units, pricing and how to begin the buying process. Whether you’re looking for a summer escape, a long-term investment or a permanent move to the stunning Albanian Riviera, Folie Village offers a rare chance to be part of a visionary coastal community. Explore floor plans, view renderings and take the first step toward owning your own luxury villa in Southern Albania.
Looking to buy property or move to Albania?
Magic Towns Albania can help you find the right place, understand the process, and make your move easier.
Author
