How much "debt" do Albanians have? Around $2,000 in credit per capita, but still far from developed economies
Bank debt of individuals in Albania reached a record level in the first quarter of 2026. According to data from the "Bank of Albania", the total stock of loans to individuals reached 381.1 billion lek, including consumer loans, home purchase loans and other loans.
Converted at the current exchange rate, this amount translates to about $4.6 billion. In relation to the population of 2.36 million, credit for individuals amounts to approximately 161 thousand lekë per capita, or about $1,970 per inhabitant.
At the household level, the average burden is even more apparent. Taking as a basis about 756 thousand households, the credit for individuals translates to about 504 thousand lek per household, or approximately 6 thousand dollars.
Compared to Visual Capitalist's global rankings, Albania remains far from the most developed economies and the most exposed to household debt.
Switzerland tops the global list, with household debt reaching around $149,000 per capita. It is followed by Luxembourg with $96,000, Norway with $88,000 and Australia with $83,000.
However, the comparison should be read with caution. Visual Capitalist's international indicator measures total household debt, while for Albania, the Bank of Albania's data shows the stock of bank credit to individuals. So, it is a close indicator, but not completely identical in methodology.
The majority of individual borrowing in Albania is related to the purchase of housing. Of the total of 381.1 billion lek, loans for the purchase of housing account for about 249.7 billion lek, or about 66% of the total portfolio.
This shows that, as in many other economies, household debt in Albania is largely linked to the real estate market. Rising apartment prices, high demand for housing, and expansion of construction have pushed more and more individuals towards bank financing.
Tirana remains the absolute epicenter of loans for individuals. The capital city alone has 186.4 billion lek in loans for housing purchases, representing about 75% of the national total in this segment.
This means that three out of every four ALL housing loans in Albania were taken out in Tirana.
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