Albania: A Holiday and Property Investment Destinations
Property Investment
A Mediterranean country with beautiful scenery along both the Adriatic and Ionian coasts, along with a great mountain landscape, Albania is attracting a lot of attention from international property investors, large corporate companies and holidaymakers.
Albania offers spectacular scenery and views, hundreds of kilometres of unspoiled and undeveloped pristine sandy coastlines, white sandy beaches, mountains, archaeological sites, ancient monuments and castles. Albania is a key holiday destination for Kosovans and Macedonians.
The country is totally undiscovered by westerners and it is actually considered the last emerging market in Europe to be developed. Albania offers a fascinating history that includes initial settlement by the Illyrians and eventually the Romans, Venetians, Byzantines and even Ottomans.
Albania has a democratically elected government which has made progress in recent years in terms of combating corruption and crime whilst attracting foreign investment. Amongst other reforms, Albania has joined NATO and is expected to become a full EU member within the next five years.
Albania is a member of NATO’s Partnership for Peace Programme and received the invitation to join a full membership within the alliance. Albania has even offered troops to support in Bosnia and Herzegovina, Afghanistan, Iraq and other regions. It is also a member of the Council of Europe, the World Trade Organisation, the United Nations and the South East Europe Cooperation Process and other organisations.
Albania’s desire to take part in the international community, both across the Atlantic and within the EU, shows a stable political environment which is very appealing to investors who want to invest in all sectors in Albania – Real Estate, energy, commercial, industrial, minerals etc. The European Union has invested over a billion Euro so far for the improvement of Albania’s infrastructure and services.
The newly opened (in 2006) Tirana international Airport has approval for further extension due to the increasing travel demands by visitors, tourists and investors. The largest highway which will link Durres with Kosovo is expected to complete by the end of 2009, along with a full renovation and extension of Durres Port, the largest in the country. This will be the hub connection between Italy and the Black Sea region.
Property prices in Albania are the lowest in all of Europe. Beachfront apartments starting from just £19,500 and apartments in the capital city of Tirana cost from only £19,000(gbp). The key hotspots offer high capital growth and there is potential for good rental yields. As the country continues to develop its tourism industry and infrastructure, the prices are not forecasted to remain this low for long so this is the right time to buy property in Albania. Prices for off-plan properties are ranging between EUR 500 to 800 per square metre. One and two bedroom apartments are starting at around GBP 19,000. These prices are very low and competitive compared to other developing hotspots such as Montenegro, Croatia and Morocco.
The Albanian climate is mostly Mediterranean and in some northern and eastern regions can be cold and snow in the winter which offers a great combination for beach and ski holidays. This makes the Albanian property market very attractive for buy-to-let investors.
Albania also offers a strong local market demand so for those looking for short-mid term investment can profit form the re-sale and the capital growth appreciated with a good exit strategy.
Albania also offers a strong local market demand so for those looking for short-mid term investment can profit form the re-sale and the capital growth appreciated with a good exit strategy.
Non-resident and commercial finances are widely available now offered by the largest European banks such us Societe Generale, Intesa Sanpaolo, Raiffeisen etc. Building costs and labour costs are cheap – building permission can be obtained quickly and the process is straightforward. Albania’s lack of resorts, golf courses, high end hotels is a great opportunity for developers to invest.
Furthermore, due to the current market conditions in the Eastern and Western European, Albania has never been in a better position to offer safe and cheap property prices and is attracting huge numbers of investors as it is currently the only stable property market.
Currently Albania Properties is offering a selection of beachfront apartments, capital city apartments, beachfront lands fit for any purpose such as golf resorts and houses.
The further benefits of investing in Albania are: No purchase tax, No VAT, only 10% capital gains tax on property when selling, 10% corporate tax for companies.
About The Author
Albania Properties being Albanian Agents based in London and local offices in the main cities of Albania and the coast can give valuable information and support to all property buyers, investors and holidaymakers.
Contact Albania Properties for more information on: www.albania-properties.co.uk or www.holiday-property.net
What would a farm cost in Sarande state down south?
Im looking all over Europe and just wanted to know about Albania.
Regards Henrik.
Sono proprietario di 2 terreni a Saranda in Albania.
Uno è in zona “marina” è un lotto di mq 442 si possono costruire 6 piani di mq 290 più i terrazzi.
Attualmente sopra al terreno c’è una villa indipendente chiedo € 150.000 oppure il 30% degli appartamenti che verranno costruiti in permuta
L’altro è in centro sotto all’hotel mediterraneo si può costruire un palazzo di 5 piani piu 2 di garage.
Lo scavo per i 2 piani di garage è già stato fatto e il progetto è già pagato chiedo il 30 % in permuta degli appartamenti che si costruiranno più il rimborso delle spese di scavo e progetto.
Posso accettare anche un pagamento dilazionato a 2 anni.
Grazie
Gilberto Biolcati