« Tirana Real Estate – CityPark Tirana | Main | Albania Property Investment Guide » |
See more properties in: Albania Property
Reasons why invest in Albania Property
By property | October 27, 2008
Albania: Situated in the southwestern 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. Bordering Greece and Montenegro this beautiful unspoilt country was long forgotten by its dark past but it is now considered as the last emerging market in Europe.
Albania is sharing the same coastline as Croatia and Montenegro but with much warmer weather, more sunny days and more than 200 miles of sandy unspoled beaches Albania is the paradise to be discovered for tourism or investment.
Capital growth has been avarage 20-25% in recent years and expected 30% in the comming year. Property prices in Croatia and Montenegro currently are more than 75% 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 450 euros per sqm in the Capital (the cheapest compared to any other capital city in Europe) and from 550 euros per sqm in the coast with up to 80% non resident mortgages available. These offers are hardly available in the neighbouring Albania and Croatia still) This makes Albania perfect for foreigners as well as locals to own their very own Albanian property form as little as €20,000 with lots of room for capital growth for those who do not leave it for too late!
Key Reasons why to invest in Albania:• Expected rentals from 5-7% through strong local market demand • High Capital Growth Forecasts (expected 20%)• NATO membership approved in May 2008 and EU expected in 2014.• NO foreign restrictions to buy (except for agricultural land)• Personal ownership or co-ownership (no company needed)• Capital Gains Tax (10% from Jan08)• NO purchase Tax • Democratic elected and stable government • Wage growth approx 10% pa • NO inheritance Tax • NO VAT on property purchase • Non resident Mortgage Financing available.
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 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.
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 received the NATO membership and is headding for EU membership accession. Albanian economy is booming, in the last three years Albania has benefited with almost 6% GDP per year with the same prediction for 2008. An EU pre-accession assistance of €11 billion for the country’s infrastructure. Albanian property market has been highly driven by the local demand for the last eight years.
To require more information about the best places to invest or visit in Albania, Albania Properties is happy to assist and provide further information. For property requirements or if you have any quesdtions please feel free to contact Albania Properties on the following:
Web: www.albania-properties.co.uk
See more properties in: Albania Property | 1 Comment »
Tags: albania, Albania Property, albania property for rent, albania property for sale, albania real estate, albania real estate for sale, tirana property, tirana property for rent, tirana property for sale, tirana real estate
October 28th, 2008 at 9:15 am
Please note that ATA Airlines filed bankrupcy and no longer is in operation as of April 4, 2008.