Albania announces National Housing Program with zero-interest loans

The Albanian government has introduced a new National Housing Program designed to assist young people and new families in purchasing homes. The initiative includes 2,000 loans with 0% interest for apartments valued up to 60,000 euros, and an additional 2,000 loans with a 3% interest rate for properties exceeding that amount.

Minister of Economy Delina Ibrahimaj noted that the eligible apartments for the 0% interest tier are primarily small-surface properties located in the peripheries of Tirana. This approach aims to provide young adults with an entry point into property ownership near their workplaces, a model she noted is common in other countries.

Prime Minister Edi Rama described the initiative as a broader reform of how the state approaches housing. The reform will be supported by six distinct programs, including social rental housing, low-cost housing through loan subsidies, and improvements to existing housing for vulnerable groups. The government plans to utilize new construction, direct market purchases, the adaptation of state-owned properties, and public-private partnerships.

Legislative packages are expected to be approved in early October, with calls for applications opening later this year. The program is slated for implementation in 2027, with winners likely announced at the start of that year. Financial criteria are also being adjusted, with income ceilings rising to 280,000 lekë net per month and maximum loan limits increasing to between 17 and 20 million lekë.