The story behind the apartment
I am Rauno, a private investor from Finland. I still have a few years left in my working life before I retire and move away. The reasons are many: Finland's high cost of living, heavy taxation, a collapsed healthcare system, and what I call elder robbery — when an elderly person enters institutional care, a wealthy elder pays far more for the same service than someone with nothing, effectively destroying any inheritance for their children. I have been a net taxpayer to Finnish society my entire career, and yet the services continue to deteriorate. Add to that the Finnish people themselves — perhaps the most collectivist nation in the entire EU — and a miserable climate, and staying becomes less and less appealing.
One of my strongest candidate countries for retirement is Albania, a society moving away from communism rather than toward it. In Albania, girls are raised to be women and boys to be men, elders are respected, and family comes first. In many ways a healthier society than Finland. Albania is a conservative society. Sexual orientation is a private matter — keep it that way and there will be no issues.
It all started with a backpacking trip in 2020 when we flew from Turku to Skopje and continued by bus to Tirana. Over the course of a week we visited Kruja, Durres, a bit of Tirana, and eventually ended up in Elbasan. Had we only visited Tirana and Durres, I would never be in the position I am today — owning a holiday apartment in Elbasan. Kruja was interesting in its own way but just a nice one-day visit. Durres and Tirana, on the other hand, had a certain attitude toward tourists — how to put it politely... milk the cow.
The whole Albania trip was a spontaneous decision when we spotted a cheap flight to Skopje. We spent a few days in North Macedonia too but personally I was not impressed by the country at any level. The same would have been true for Albania had we not ended up in Elbasan by chance. Authentic Albanian life, lower prices, good transport connections — we even made friends with a few locals surprisingly quickly. We flew home the same way a week later but a spark had been lit. That spark did not fade — it grew into a flame.
I started following the Albanian property market, the economy, the prospects. A possible EU membership. In every country that has joined the EU, property prices have risen, wages have risen, and everything else has become more expensive. What interested me was the rise in property values at the point when the country joins. A risky plan — but both in my career and as a private investor I am used to taking risks and managing them. The apartment in Elbasan was initially nothing more than a property in a warm country — somewhere to holiday and an investment.
We looked at properties for a while and made a shortlist of three. The city did not need any deliberation — that was already decided. In spring 2021, after many complications, I had finally reached the seller and we agreed on a date and time. When we arrived as planned, nobody was home. We went to look at other options until the meeting eventually happened. We negotiated the price and started working toward a deal. From handshake to keys took about ten months in total. A few things should have been addressed in the purchase contract — for example outstanding utility bills. My lawyer had plenty of work to do but this particular issue never crossed my mind, because in Finland the seller is responsible for their own utility costs throughout the period of ownership.
Spain, Portugal, Thailand — none of them have ever interested me. The reason is not the climate. It is the people — and especially Finns. There are other things about those countries and cultures I dislike too. Albania is different. A constant controlled chaos, stimulation, community, trust. The climate is what Finland lacks — four seasons without the darkness, the cold, the snow, the sleet and the frost. I despise them above all else. If I ever missed them, Albania has an answer for that too: head higher up. Korçë in the southeast sits at altitude and has a climate close to Finland's — it even has a ski resort. For a warmer winter, head south. For rugged mountain terrain, head north. For a lake, head to Pogradec. The cost of living is still low compared to southern Europe. Food, services, construction — all affordable. That will change when EU membership comes but there is still time.
The Albanian tax system is simple and the flat rate is low compared to Finland. Bureaucracy exists but it is manageable with the help of locals. People are different from tourist destinations. In Elbasan nobody smiles at your money — they smile at you. Friendship does not require money, it requires time and effort. That is something you cannot buy.
Albania still has work to do on littering. It is a real issue and one that should be addressed. EU membership is a long game. When it comes, everything will get more expensive. By then the value of the apartment will have risen and the quality of life will have been good. For me Albania is not a compromise. It is a choice.
I received the keys from my lawyer at the end of 2021 and it was time to travel home for the first night. No electricity, no running water — and when water did come it leaked everywhere. The kitchen sink drained onto the floor. Water came from the tap only for a short window three times a day. The heat pumps were old but worked reasonably well when occasionally repaired. The whole building was in fairly poor shape inside and out.
The first purchase on the first evening was a bed. I had been travelling for two days without a wink of sleep and exhaustion was setting in. I walked into a local furniture shop and said I will take that one. It is not possible, said the seller. I said I will take it and I will take it now. After some back and forth I got my bed. Friends quickly organised the disassembly, carrying, transport and reassembly. The next day it was time to sort out electricity. It was resolved fairly quickly once a friend explained the situation to the power company and assured them the bill would be paid in full with penalties as soon as the office opened. The water bills had been unpaid for over a year. That too was sorted by paying the arrears and fines.
By 2021 there were already rumours of the Auto Moto Park project. In 2022 the first construction phases became visible and related infrastructure was being built across the area. Buildings near the track received new facades. Late 2022 brought the news that 24-hour water supply was coming. These were the starting signal for the apartment renovation — a complete overhaul that replaced the water pipes and electrical wiring, fully rebuilt the bathroom to modern standards and added underfloor heating. The apartment was renovated from floor to ceiling — and for a Finn, one thing was non-negotiable: a grill. The balcony was fitted with a dedicated space for the grill and all accessories.
The heat pumps were sized with enough reserve capacity to maintain stable temperature and humidity regardless of outside conditions. The apartment provides accurate data and was built for remote monitoring and control. The colour scheme was chosen to feel fresh and bright. Tiled floors were replaced with laminate. The apartment was built to accommodate between one and six people as needed — if the circuit is ever completed, it will offer comfortable accommodation within easy walking distance of the track. The renovation was carried out in phases between 2023 and 2026 without external capital.
The apartment was move-in ready in November 2025, when we held a housewarming in the Finnish tradition — with close Albanian friends and our Finnish group together. The fact that we had no shared language did not bother anyone. We ate, drank, some sang, some just listened.
I initially considered these commission-hungry platforms but ultimately decided to rent directly myself during the times when I do not need the apartment. No agency fees and full control. Why should everyone compete on who charges the least, with the winner paying a commission? Why should some global corporation profit from my apartment?
I also have no interest in volume at the expense of quality. Every guest is unique and is always served as well as possible. After each stay the apartment is cleaned thoroughly, maintained and any issues addressed. If a fault or deficiency is found the apartment is taken off the market until everything is back in order. The apartment is such a small cost for me that it makes no difference whether it is occupied or not — renting it is more of a hobby, even if it is taken seriously.
The pricing model is 7 or 14 nights. This reflects the cost structure and also creates demand for additional services. End-of-stay cleaning is included for the guest at no extra charge.
elbasanapartments.al is not a typo — there is only one apartment. The domain does however hint at possible plans for the future.
Read more about Elbasan and Albania: