Albania Emerging Property Market

Reasons to invest in Property in Albania.

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 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.

Albania is 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. Comparing what Croatia and Montenegro had to offer in late 2000 with Albania in 2007-8, it offers the same capital growth so fare.

Capital growth has been around 15-20% in recent years and expected to prosper. Property prices in Croatia and Montenegro currently are more than 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 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 (with interest only payment options). With interest rates from 7% for non residents through foreign owned banks based in Albania (in fact all 16 banks in Albania are foreign owned). (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: • 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.

Albania Property market has been active for the last 10 years for local market but only few years a go in 2006 we have seen large number of foreigners starting to invest in Albania property market. This year we have seen dramatic changes on the market with huge demand for coastal and Tirana (capital city) properties as well as land investments.

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.

Albania is undergoing major construction road works. One of the main projects that is currently under way is the construction of the corridors Durres-Morine, Corridor VIII that will link with the Black Sea regions and the Adriatic-Ionian that will link Croatia-Greece. According to officials the major projects should be largely completed by 2010. At that point, 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 NATO and EU membership accession and talks are well on track with 16 member states having signed 's SAA by the end of 2007.

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 large diaspora are returning back and continuing to invest money into the regeneration of and increasing spending. 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, free property tours as well as information about Albania history dating back to Illyrians 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 E-mail: info@albania-properties.co.uk Tel: +44 (0) 207 607 9119.