ALBANIA

Albania is a country of approx 3.1m people tucked between Montenegro and Greece with a coastline on the Adriatic which becomes the Ionian Sea towards the South. The climate is lovely with hot summers and mild winters. Food and people are very nice indeed. As an investment it is still quite high risk but with price levels you are buying at this is to be expected. All types of investments are available and seafront land is also available. For pure investment Tirana or Durres are the safest bets but for someone looking for a value holiday home or retirement home Saranda is beautiful.

Who It Suits
• This is a capital appreciation opportunity not a passive income one at the moment.
• People looking for a low budget holiday home which they wish to combine with an investment opportunity. I would buy in Durres or Saranda for this.
• Developers / Land Investors who would buy beachfront land or city sites.
• Investors will most likely buy in the capital Tirana and wait and sell later.

The Pro’s
• Prices are excellent value, even in the capital Tirana you will buy a one bed apartment from €35,000. Prices per sqm vary from €600/€1000. Even when wages rise it will be impossible to build for these prices.
• Neighbouring countries Croatia and Montenegro have experienced huge growth in the last 5 years - I would estimate at least 300% appreciation in area’s of particular beauty.
• Mortgages are available - this is almost unheard of where prices are this low. You are normally buying before the banks and lending arrives to get these prices. 60% mortgages available in Albania.
• EU membership is planned for 2014 and membership of NATO for 2008.
• Buying costs are low and you can buy and sell freely.
• It is a beautiful country and especially in the South the coastline is stunning.
• There is a modern airport in Tirana receiving flights from several European destinations including the UK.

The Con’s
• The political situation is not 100% stable yet and many people will be concerned with problems in neighbouring Kosovo.
• The property market is not yet established enough to have an established rental market.
• Infrastructure is in early development stage so access to the South for example is slow and limited
• Some illegal building has taken place and it is imperative to use an experienced solicitor for your purchase to ensure clean title.

If you have any enquiries regarding Albania or would like further information on developments in Albania or any other country, please contact us on 01-6275798 or catherine@makemerich.ie

THE FACT'S

LOCATION:  BALKAN PENINSULA - SOUTH EASTERN EUROPE

AREA:  28,703 SQ KM'S

COASTLINE:  466 KM'S

CAPITAL:  TIRANA

CURRENCY:  LEK (L)

TIME ZONE:  GMT + 1

POPULATION:  3,176,000

GOVERNMENT:  UNITARY MULTIPARTY REPUBLIC

RELIGION:  MAINLY MUSLIM

OFFICIAL LANGUAGE:  ALBANIAN (ENGLISH SPOKEN)

     APARTMENTS IN TIRANA

     APARTMENTS IN DURRES 

     APARTMENTS IN SARANDA

CLICK ON PICTURE OR PLACE ABOVE TO SEE MORE INFORMATION ON DEVELOPMENTS IN TIRANA, DURRES & SARANDA.