The dream of a Mediterranean domicile is an alluring idea for many people. However, regions like southern France, the Amalfi Coast, or the Spanish Costa del Sol are generally considered extremely expensive. Fortunately, there are also insider tips where buyers can find affordable living space on the Mediterranean.
Albania: Affordable Prices on the Adriatic Coast
One of these countries is Albania. After years of political instability and economic backwardness, the country has experienced rapid development over the past two decades. This is also reflected in the real estate market. While property on the picturesque Adriatic coast of Italy or Croatia is often unaffordable, buyers in Albania can find real bargains.
In the port city of Durres, just 40 kilometers from the capital Tirana, condominiums near the beach cost an average of 800 to 1,200 euros per square meter. An 80 square meter apartment with sea views can be had here for around 80,000 euros. A bit further north, in Shëngjin, prices are even lower at 600 to 900 euros per square meter. Here, properties under 50,000 euros can definitely be found.
Real estate experts see great potential in Albania. The country is politically stable, the economy is growing continuously, and the infrastructure is constantly being expanded. Add to that the dreamlike beaches, a picturesque landscape, and a rich culture. All of this is making Albania an increasingly attractive destination for foreign investors and second-home owners.
Italy: Bargains on the Adriatic Coast
Italy also has regions where real estate is significantly cheaper than on the famous Amalfi Coast or in Liguria. Particularly on the Adriatic coast, for example in the regions of Abruzzo and Molise, relatively affordable vacation properties can still be found.
In towns like Termoli or Vasto, 80 to 100 square meter apartments cost an average of 50,000 to 70,000 euros. Further south, in the Molise region, prices are sometimes even lower. Here, the square meter price for apartments is 800 to 1,200 euros, so a comparable apartment often costs less than 100,000 euros.
So if you search a little further away from the tourist centers, you can definitely find bargains in Italy. It is important that buyers inform themselves about the regional differences and possible risks.
Greece: Attractive Prices on the Islands
Greece also has worthwhile real estate offerings, especially on the Aegean islands. While prices on well-known tourist islands like Mykonos or Santorini are very high, on less touristy islands like Leros, Kalymnos or Samos, properties are significantly cheaper.
For example, an 80 square meter apartment in a quieter area on Leros costs between 40,000 and 60,000 euros. On Kalymnos, comparable properties are priced at 50,000 to 70,000 euros. Even on Samos, one of the larger and more well-known islands, there are condominiums in the 60 to 80 square meter range for 50,000 to 70,000 euros.
The advantage of the Greek islands, in addition to the affordable prices, lies in their distinctive charm and quiet, traditional atmosphere. So those who seek peace and relaxation, instead of the hustle and bustle of tourist centers, will find just what they’re looking for here.
Conclusion
The Mediterranean coast does not always have to be expensive. Those who search a little off the beaten tourist path can find real bargains in countries like Albania, Italy or Greece. However, it is important to research the political and economic conditions of the destination country in advance. With the right research, affordable vacation homes or apartments can be found here.
