Situated in the south-western region of the Balkan Peninsula, Albania is predominantly mountainous but flat along its coastline with the Adriatic Sea with mild temperate -- cool, wet winters; dry, hot summers.
ALBANIA, THE HIDDEN TREASURE!!
Bordering Greece and Montenegro this little beautiful unspoilt country was long forgotten by its dark past but it is now beginning to emerge. Albania is considered the last emerging property market in Europe . Sharing the same coastline as and but with much better weather, more sunny days and more than 200 miles of sandy beaches Albania has it all and is the perfect place to invest.
Property prices in Croatia and Montenegro currently are approx 75% more expensive to those of Albania at the moment but this will not last very long therefore this is the right time to snap a quick bargain. Prices in Albania starting from as little as 400 Euros per sqm in the Capital (the cheapest compared to any other capital city in Europe) and from 500 Euros per sqm in the coast. Albania Properties is offering up to 50% non status payment plans, interest free payments for five years in selected resorts/developments. Some local Albanian banks are also offering finance to none residents.
With interest rates from 7-8.5% for non residents through foreign owned banks based in Albania (in fact all 16 banks in Albania are foreign owned). (These offers still hardly available in the neighbouring Montenegro and Croatia) This makes Albania perfect for foreigners as well as locals to own their very own Albanian property form as little as 20,000 Euro with lots of room for capital growth for those who do not leave it for too late!
Key Reasons
- Expected rentals from 5-7% through strong local market demand
- High Capital Growth Forecasts (expected 10-15% per year)
- NATO member since April 2009 and EU membership candidate with an entry expected possibly by 2015.
- NO foreign restrictions to buy (except for agricultural land)
- Personal ownership or co-ownership (no company needed)
- Capital Gains Tax (10% from Jan 08)
- NO purchase Tax
- Democratic elected and stable government
- Wage growth approx 10% pa
- NO inheritance Tax
- NO VAT on property purchase
Since we started assisting foreign investors in the early 2006 we have seen dramatic changes on the market the last two years and the huge demand for coastal and city properties as well as land investment.
The infrastructure is improving daily with the newly build terminal at (Mother Teresa) Tirana airport now offering direct flights to/from London with BA, direct flights to/from New York with ATA Airlines as well as direct flights to many EU cities. More than 40 million Euro is being invested into upgrading the port of Durres – the main Albanian port, located 35km from Tirana which is a link to many Balkan, Black Sea and many EU regions.
Albania is undergoing major construction road works. One of the main projects that completed in 2009 is the construction of the corridors Durres-Morine linking Albania with Kosovo, Corridor VIII that will link with the Black Sea regions and the Adriatic-Ionian that will link Croatia-Greece. Major motorway/highway networks are completed and new ones are planned for completion by 2013. At that point, Albania will have an estimated over 700km of highway linking it with its neighbours as well as shortening journey times up to 75%.
Albanian government have taken considerable steps on tackling corruption and organised crime. The government are very positive and largely supporting foreign and local investors. If you visit Albania you will see how peaceful, warm and welcoming the Albanians are and that negative impression to what most of people believe, it is a secure country with one of the lowest crime rates. Albania is heading for EU membership accession and talks are well on track with 16 member states having signed SAA by the end of 2007.
Since December 2010, Albanian Nationals are exempt from Visa Regime and now can travel Visa Free within the Schengen area States in the European Union. Albanian economy is booming, in the last three years Albania has benefited with almost 6% GDP per year with the same prediction for 2011. An EU pre-accession assistance of €11 billion for the country's infrastructure.
Albanian large diaspora are returning back and continuing to invest money into the county and increasing spending. Albanian property market has been highly driven by the local demand for the last ten years.