San Nicolas Residences
San Nicolas is a resort at Palasa, Dhërmi: 115 stone villas with private pools, 117 apartments and a five-star hotel. Apartments from €3,550/m².
Dhërmi is the village on the hillside with the beaches below it: Dhërmi beach itself, Drymades to the north, and the coves toward Gjipe canyon to the south. White pebbles, water that shades from turquoise to deep blue within a few metres, and the Ceraunian mountains straight behind. It is the image most people have in their head when they say Albanian Riviera.
It is also a market of contrasts. Demand from foreign buyers is real and prices for the best positions reach the top of the Riviera range, yet the season is the most concentrated on the coast and supply is a mix of small developer blocks, older village houses and land with the coastal-strip nuance attached. That is why we list here selectively rather than broadly: a managed resort and one small new development rather than village blocks.
San Nicolas Resort & Residences sits on the slope above Palasa Bay, at the northern edge of Dhërmi behind Llogara National Park. It is a low-density resort with only a fifth of its land built on: 115 villas in local stone, each with a private pool and a sea view, 117 apartments in three-storey buildings, and a five-star hotel with a spa. Villas start at €1,250,000; apartments are €3,550 to €3,700 per square metre by floor. Phase I is due in December 2026 and Phase II in June 2027, and partner banks lend up to 70% with no collateral. Albania Housing projects a 10% return in the first rental season and a 12% uplift to completion.
Ion Breeze Residence, at Gjilek on the southern side of Dhërmi, is the opposite end of the scale: 34 homes on a hillside of pines and olives about 300 m from the Ionian Sea. Four villas of about 440 m² with private pools are €1,500,000 on the front line and €1,370,000 on the second; 30 apartments, 1+1 and 2+1, are €2,750 to €3,300 per square metre by floor, from €206,205. Building resumed in September 2026 and the developer expects completion within two years. Albania Housing projects a 20% uplift to completion and a 26% return in the first rental season.
Green Coast, on the same bay at Palasa, is our other Riviera resort. If you want a village house or a small block in Dhërmi itself, tell us: we track releases here and contact registered buyers first, and we can arrange to see resale homes on a viewing trip.
Two things above all. First, the coastal-land rule: a strip within roughly 200 metres of the shore has its own regime, handled through a company or a long lease rather than direct personal title, which matters for land and villa plots but not for an apartment in a coastal building. Albania Housing explains it in the 200 m coastal rule guide. Second, title and cadastre: on the Riviera more than anywhere, confirm the seller's title and the legal existence of the exact unit before any money moves.
San Nicolas is a resort at Palasa, Dhërmi: 115 stone villas with private pools, 117 apartments and a five-star hotel. Apartments from €3,550/m².
Ion Breeze Residence is a small development at Dhërmi, 300 m from the Ionian Sea: four villas with private pools and 30 apartments. From €2,750/m².
The Riviera range is roughly €1,000 to €2,000 per square metre, with the best beach positions at the top of it. New homes with sea views and pools go well above that band: apartments at Ion Breeze are €2,750 to €3,300 per square metre and at the San Nicolas resort €3,550 to €3,700, and villas start at €1,370,000 at Ion Breeze and €1,250,000 at San Nicolas.
Yes, and in peak weeks it lets very well. The catch is the season: model a strong July and August against a quiet nine months, and remember rental income is taxed at 15% on the net. Albania Housing's yields guide has real figures by location.
Tell us your budget and how you plan to use the home. We reply with the current price list and available units for Dhërmi, and the honest season numbers.
Thank you.
Your request is in. We reply within one business day with the projects that fit and indicative numbers.
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