Albania2013Property GuideAlbania Property Group ©We promise youa piece of the MediterraneanJanuary 2013
Albania Property GuideAlbania Property Group − © January 2013About Albania & Albanians 1International integration 3Economi...
Albania Property GuideAlbania Property Group − © January 2013Albania covers a total area of 28,748 km2, coastline362 km. A...
Albania Property GuideAlbania Property Group − © January 2013Albania has a population: 4.1M (est.July, 2012) but only 3.1 ...
Albania Property GuideAlbania Property Group − © January 2013Europe - Albania’s long time aspirationAlbania is a member of...
Albania Property GuideAlbania Property Group − © January 2013Albanian current Currency4Economic dataCommercial Banks (2012...
Albania Property GuideAlbania Property Group − © January 2013Pedestrian bridge over the “Lana” river in TiranaVast urban d...
Albania Property GuideAlbania Property Group − © January 2013Ksamil Beach in Saranda“The Blue Eye”– unique natural spring ...
Albania Property GuideAlbania Property Group − © January 2013Medieval Tower in DurresDurrës seaside by dawnThe Durres sand...
Albania Property GuideAlbania Property Group − © January 2013Dhërmi – Lush vegetation by the pristine seaside “Cold Water”...
Albania Property GuideAlbania Property Group − © january 2013How much would a property cost me and how big are they?Do apa...
Albania Property GuideAlbania Property Group − © January 2013OfficesOffice property is mainly based in Tirana. The office m...
Albania Property GuideAlbania Property Group − © January 2013 11QAQAQAIt would be very unusual to find apartments being so...
Albania Property GuideAlbania Property Group − © January 2013 12QAQAQAGenerally you would pay between 20%-30% of your tota...
Albania Property GuideAlbania Property Group − © January 2013 13QAQAQAParking is a problem in Tirana and the coastal towns...
Albania Property GuideAlbania Property Group − © January 2013 14QAQAQAExpect to pay around 150-200 Euros a year for mainte...
Albania Property GuideAlbania Property Group − © January 2013 15QA Many of our clients have never been to Albania and want...
Albania Property GuideAlbania Property Group − © January 2013In the past few years, Albania has madeclear progress in a nu...
Albania Property GuideAlbania Property Group − © January 2013For further details on how we cansupply you with more informa...
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Albania Property Group - Buyers Guide 2013

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Every 6 months Albania Property Group provides all our clientele with an updated report for the situation in the real estate market in Albania.
This report brings together information about the economy and real estate market. It also provides information about the How to Buy real estate in Albania
www.AlbaniaPropertyGroup.com

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Albania Property Group - Buyers Guide 2013

  1. 1. Albania2013Property GuideAlbania Property Group ©We promise youa piece of the MediterraneanJanuary 2013
  2. 2. Albania Property GuideAlbania Property Group − © January 2013About Albania & Albanians 1International integration 3Economic data 4Albanian Cities 5Questions & Answers 961noisulcnoCContents
  3. 3. Albania Property GuideAlbania Property Group − © January 2013Albania covers a total area of 28,748 km2, coastline362 km. Albanian Coastline bordering the Adriatic andIonian Seas.The territories of present day Albania have beeninhabited as early back as 100.000 years ago. It wasat the turn of the third millennium BC that an Indo- European population settled there. As the result ofthe mixture, a population incorporating the uniquecultural and linguistic characteristics of the wholeBalkan Peninsula (pelages) was created.Based on this ancient population, the Illyrian peopledeveloped through the second millennium and the firstcentury B.C. After its fall in the year 168 B.C. IllyrianKingdom came under the control of Roman Empire.With the division of the Roman Empire (395 A.D),Illyria became a part of the Byzantine Empire.The country has suffered continuous invasionsover the last 1000 years and by the end of the 14thcentury Albania was occupied by the Ottoman Empire.Albanians fought successfully Ottomans during1443-1468 under the legendary Leader Gjergj KastriotiScanderbeg. Ottoman Empire at its best was stoppedby Albanians who saved Europe from the invasion. Thesubsequent efforts and insurrections for independenceeventually brought about the proclamation of theindependence of Albania in 1912. After 1912 till theend of the First World War, the country was attacked byneighboring countries.Scanderbeg square in the center of Tirana – Capital of AlbaniaLocation of Albania in EuropeMap of Albania1History of AlbaniaAbout Albania and AlbaniansTIRANAMACEDONIAADRIATICSEAIONIC SEAKOSOVOMONTENEGROGREECEDurrësKavajaElbasanPogradecLaçLezhaPeshkopiLushnjeFierVloraSarandaBerat KorçaTepelenaShkodra
  4. 4. Albania Property GuideAlbania Property Group − © January 2013Albania has a population: 4.1M (est.July, 2012) but only 3.1 M are residentsand the difference is made of Albanianemigrants who leave and work mostly inGreece and Italy.Albania is a secular country. Albania iswell known for its model of religioustolerance and this goes back to themiddle age. Muslim religion was firstintroduced into Albania by the Ottomansinvaders.In the country now live togetherCatholics, Orthodox, Evangelists andMuslims.According to the 2007–2008 Gallup polls,63% of Albanians claim that religion doesnot play an important role in their lifeAfter eleven years of monarchy thecountry was occupied by Mussoliniforces in 1939, putting the end ofmonarchy. In 1943 the armies of Hitleroccupies the country. Albanians arewell remembered for providing shelterto Jews during the war. Albania was asafe haven for Jews from neighboringYugoslavia and Greece.The resistance against foreign invasionwas known as the Anti – Fascist NationalLiberation front. The Communistparty took power in November 1944,when the foreign armies were expelled.Shortly thereafter, a totalitarian regimewas established under the communistleader Enver Hoxha. For about 50years, the regime applied the policy ofMosaic at the National Historic Museum in Tiranapoverty when it finally emerged fromisolation in 1991.The principle of self-reliance appliedby the Communist regime prohibitedforeign loans, credits and investment.From 1991 until 1997 The DemocraticParty led the country. After the unrestsof 1997 due to the failure of pyramidalschemes the Socialist Party with itscoalition was in power until 2005. Afterthe last elections on 3 July 2005 TheDemocratic Party with its coalition isturn back in power. Albanian policyintends to integrate the country intoEuropean Community and the Allianceof NATO forces.2PopulationMedian age ~ 30 yearsLife expectancy at 78 yearsAlbanian capital: Tirana withapprox 900K inhabitants
  5. 5. Albania Property GuideAlbania Property Group − © January 2013Europe - Albania’s long time aspirationAlbania is a member of the UN since 14 December 19553Paving the way forEuropean IntegrationCredit ratingParliamentary DemocracyMember NATO − April 2009Albania to become a member of the EU in the next5 yearsPolitical Risk: 3 (1 = best; 7 = worst),In global financial market: B1, Moody’s classified asa country of “stable outlook” (Mar., 2012)The enactment rule of law is foundation of freesocietyAll new laws are in accordance with westernstandardsInternational ParametersEase of Doing Business rank:2012 rank: index climbed to 822011 rank - 862010 rank – 135Corruption Perceptions Index (CPI) scoreTransparency International2011: rank – 95, score 3.12010: rank – 85, score 3.4More links about Albania indicatorshttp://www.worldbank.org.alhttp://www.doingbusiness.orghttp://www.transparency.org
  6. 6. Albania Property GuideAlbania Property Group − © January 2013Albanian current Currency4Economic dataCommercial Banks (2012)Exchange rate (August, 2012)EUR/ALL 138.0USD/ALL 110.4EUR/USD 1.25GDP – real growth rate: 2.5% (2011 est.)GDP – per capita: $7,800 (2011 est.), $7,600 (2010)Budget:Revenues: $3.405 billionExpenditures: $3.87 billion (2011 est.)Taxes & other Revenues: 25.6% of GDP (2011 est.)Inflation Rate: 3.9% (2011 est.), 3.5% (2010 est.)Exports: $1,886 billion (2011 est.), $1.548 billion(2010 est.)Export Partners: Italy 50.8%, Kosovo 6.2%, Turkey5.9%, Greece 5.4%, China 5.5%Imports: $5.022 billion (2011 est.), $4.305 billion(2010 est.)Import Partners: Italy 28%, Greece 13%, China 6.3%,Turkey 5.6%, Germany 5.6%Public Debt: 59.4% of GDP (2011 est.)Investment: 31% of GDP (2011 est.)Alpha Bank – AlbaniaIntesa Sanpaolo Bank Albania(Former: American Bank of Albania)Societe Generale (SG)Credins Bank (CB)Credit Bank of Albania (CBA)Credit Agricole – Emporiki bank (CA)First Investment Bank Tirana Branch (FIB)First Investment Bank, Albania sh.a. (FIB)International Commercial Bank (ICB)Italian Development Bank (IDB)National Bank of Greece (NBG)Banka Kombetare Tregtare (BKT)Procredit Bank (PCB)Raiffeisen Albania (RZB)Tirana Bank (TB) (Part of Piraeus Bank)Union Bank (UB)
  7. 7. Albania Property GuideAlbania Property Group − © January 2013Pedestrian bridge over the “Lana” river in TiranaVast urban development in Tirana“Scanderbeg” square in the center of Tirana“Grand Park” in the southern hills of Tirana5Tirana enjoys a beautiful settingbetween the ranges of Dajti Mountainfrom one side and the coastal plains onthe other one.This relatively new city was founded in1614 by Sulejmen Pashe Bargjini, feudallord of that time, and proclaimedcapital in 1920. However the area hasbeen inhabited as early back as theNeolitic period.With a population of approx 800,000inhabitants, Tirana is growing rapidly,and is a busy commercial and adminis-trative center with several comfortablehotels, restaurants, discos, pubs as wellas modern facilities for conventions andconferences. About 70% of thebusinesses are located in Tirana area.It is always nice to have a walk in theGrand Park, lying in the southern partof the city and extending over an area of250 hectares with an artificial lakeincluded. It has 120 kind of plants,decorative shrubs and flowers of variouscolors.Tirana – Albania’s capital city
  8. 8. Albania Property GuideAlbania Property Group − © January 2013Ksamil Beach in Saranda“The Blue Eye”– unique natural spring in Saranda“Monastery Bay” in Saranda Butrinti – largest archeological site in Albania6Saranda, the gateway to the southernAlbania, is a small town located betweenhigh mountain and the Ionian Sea.The name Saranda derives from an earlyChristian monastery dedicated to SantiQuaranta (Forty Saints).Located on the shores of Ionian sea, infront of Greek island of Corfu, Sarandais characterized by a Mediterraneanclimate and warm sea waters.Due to its location and warm weatherSaranda is one of the most attractivetourist town in Albanian Riviera, wherehoneymooners traditionally spend theirholidays.Located in front of the sea and along themain promenade there are some hotelsand restaurants which offer you cateringfacilities and accommodation. Dailyferryboat links Saranda with the nearbyGreek island of Corfu.Saranda – The Pearl of the South
  9. 9. Albania Property GuideAlbania Property Group − © January 2013Medieval Tower in DurresDurrës seaside by dawnThe Durres sandy riviera is the longest in Albania7Durres is an ancient city, founded in627 B.C. and known by the namesEpidamnus and later on Dyrrachium.The most important archaeological siteis the Amphitheatre, the largest in theBalkan Peninsula, built in the 2ndcentury B.C. with a capacity of 15 - 20thousand spectators and containing anearly Christian Crypt with rare wallmosaics.Worth visiting is also the fortress ofDurres of the early Middle Ages, V –VICenturies.Located in the vicinity of internationalAirport of Rinas and the capital, Durresmaintains regular connections withItalian portsDurres is the largest beach and seadestination in AlbaniaWith a coast of 6 km long and 150 –180meters wide, only 30 km from TiranaInternational Airport and 39 km farfrom the capital Tirana.Along the seaside there are touristestablishments which provide adequateservices.Durres is the second largest city ofAlbania with a population of 150,000inhabitants which gets almost doubledduring the summer. It is the biggestseaport and the main railway connec-tion center.Durrësi – Albania’s oldest city
  10. 10. Albania Property GuideAlbania Property Group − © January 2013Dhërmi – Lush vegetation by the pristine seaside “Cold Water” rocky beach in Vlora Secluded private beach in VloraSazani Island as seen from Vlora’s seasideThe adorable Ionian riviera spans the whole length of Vlora8Vlora coast is situated in the southwestern part ofAlbania, exactly where the Adriatic and Ionian seasmeet. Vlora, through the Otranto Channel, is thenearest point of Albania to Italy (72km). It is 135 kmfar from Tirana and 123km from Greece.Along the Vlora coastline you will find outstandingwhite beaches and stunning surroundings. There areplenty of beautiful beaches in places like the naturalPark of Llogara, Dhermi, Palasa, Himare and ColdWater (famous for its rich clientele and natural waterresources). Vlora averages 274 days of sunshine in ayear.Vlora – Miles of White Beaches
  11. 11. Albania Property GuideAlbania Property Group − © january 2013How much would a property cost me and how big are they?Do apartments come furnished?How much is the Reservation/Agency fee?What do I get for my agency fee?What are the payment terms?How can I instruct a lawyer?What is the process after the initial reservation fee is paid?Can I buy as an individual or company?What other costs do I need to be aware of?Is there a need for car parking?What is the rental market like?Approx how much are communal charges?Are there any guarantees from the developers?Property Management & Rental ServicesDo you organize Property Tours?9Now is the best time to invest in AlbaniaBuying residential, commercial property, or landis straightforward and the lack of restrictions andminimal taxes are just few of the incentives towardsbuying into the most exciting opportunity in EasternEurope today.www.AlbaniaPropertyGroup.comQuestions and AnswersWe promise youa piece of the Mediterranean
  12. 12. Albania Property GuideAlbania Property Group − © January 2013OfficesOffice property is mainly based in Tirana. The office market has seen impressive growthin the last 5 years. Many office buildings has been constructed and many more are underconstruction. They are all being built under international standards. Tirana has now around50,000 m2 of Class A buildings completed whilst construction companies not frightened byoversupply may deliver more than 70,000 m2 in the next 36 months with the Millenniumproject bringing 20,000 m2, and TID Tower 41,000 m2.Almost all of the modern space in Tirana is located in the Central Business Area; in Tiranabusiness centers rents range from 12-24 Euro/1m2 per month.The most expensive and most recent business center is ABA center with 24 Euro/1m2 permonth. Then Twin Towers, ETC rent space at 17-22 Euro/1m2, while Sky Tower and TorreDrini at 15-18 Euro/1m2.Service fees in the business centers amounting at 1-3 Euro/1m2 per month.ResidentialThe purchase price per 1m2 will vary depending on the location and the quarter within thatlocation, in addition to the quality and the year when the residence has been built.To purchase in Tirana, the prices vary from:400 – 500 Euro /1m2 in more populated Kashar, Yzberisht and Dajti regions700 – 1,000 Euro /1m2 per m2 in the lake area900 – 1,200 Euro /1m2 in Tirana e Re1,100 – 1,600 Euro/1m2 around the National Park of Tirana1,300 – 2,200 Euro /1m2 in the Block area.To purchase in Durres - 30 minutes west of capital city:400 – 500 Euro/1m2 close to the sea without sea view500 – 750 Euro/1m2 inside the city with no sea view750 – 1,000 Euro/1m2 inside the city with sea view1,000 – 1,400 Euro /1m2 in the front line or in resorts south and north of Durres.To purchase in Vlora - 2 hours south of capital city:550 – 680 Euro/1m2 in the old beach area.750 – 900 Euro/1m2 along lines 1 and 2 between Skela-Uji Ftohte road.1000 –1,400 Euro/1m2, at complexes with top quality and swimming pools.To purchase in Saranda - 5 hours south of capital city, in front of Corfu in Greece:550 – 700 Euro/1m2 at Street 5, and towards Cuka channel with sea view700 – 900 Euro /1m2 for apartments across the road from the sea900 – 1,300 Euro/1m2 for apartments next to the sea.Typically one-bedroom apartment have been built around 55-75 m2 and the two-bedrooms80-100 m2. They would both have balconies, communal areas and one or two bathroom,which are included in the size of the apartment.During 2011-2012 due to the market changes in the coastal areas, developers tend to buildsmaller apartments, use space in a more efficient way. Foreign buyers are more cautioustowards Apartment Size vs. Return on Investment.Now we can find more one-bedroom apartments in new buildings with 60-65 m2, andtwo-bedroom apartments at 80-85 m2.10QAHow much would a property cost me and how big are they?
  13. 13. Albania Property GuideAlbania Property Group − © January 2013 11QAQAQAIt would be very unusual to find apartments being sold with furnishing. Albania PropertyGroup has managed with the our exclusive project Saranda Azzurra to offer kitchen furnitureand air-conditioning within the selling price. It has prooved to be a success story.Considering that competition is becoming stronger and stronger developers are more willingto offer furniture, higher quality works, and therefore accept lower margins. This is a positivesign, and we are witnessing more reasonable pricing and developers thinkign of offering morethan just accomodation.Furniture packages are available through Albania Property Group and will cost from about3,500 Euro, depending on grade and amount of bedrooms.After-sale services with Albania Property group includeFurniture PackagesProperty ManagementProperty Rental ServicesThese services are explained in detail under “Services” section at our websitewww.AlbaniaPropertyGroup.com.Air conditioning costs from 320 Euro per unit but it is sometimes included in the developer’sprice. However, do expect the following to be included in your apartment: plumbing, electrics,sanitary ware / bathroom tiling, sockets, doors, double-glazing.Do apartments come furnished?We work on a set reservation fee as oppose to a percentage as we feel it penalizes the higherspender. The fee is small in comparison with other countries.Airport transfers from TiranaAccommodation ArrangementCar hire through our Rent-a-Car ProgramMarket overviewProperty TourLegal adviceAssistance with arranging finance/opening a bank accountPower of Attorney option and we can finish the paperwork for you once you leave.Discuss After Sale Services through our agency such as: Property & Rentalanagement, Furniture Packages.What do I get for my agency fee?The Reservation/Agency fee is 2,000 Euro for apartments and Land fees 4 % on a sliding scaledownwards. This fee is payable immediately on return of the reservation form. On receipt ofthis money and form, there is usually a cooling off period of 15 days, in case the buyer, shouldwish to not proceed with the purchase.On receiving of this fee Albania Property Group communicates with developing company andtakes the apartment out of the market. With the next step client can start the legal proceedingsin order to finalise the undertaking contract.How much is the Reservation / Agency fee?
  14. 14. Albania Property GuideAlbania Property Group − © January 2013 12QAQAQAGenerally you would pay between 20%-30% of your total purchase after the pre-contractshave been signed by you and your POA. The percentage varies depending on how far theconstruction is towards completion.Then we try to put other payments in relation with the stages of construction. Thereforepayments might follow with another 30% on completion of concrete shell of the residence,15%-20% on completion of installations, 10%-20% on delivery of the apartment and 10%with registration and receiving of the title deed.The final payment which is paid upon registration of the property takes time in general. Itcomes after completion but what is more important clients can furnish and live in the propertybefore they receive the deeds.Nevertheless the new law which has come into force in 2012 aims to shorten the period of timebetween completion and the registration of individual property.What are the payment terms?Since Albania Property Group started selling Albanian property to internationals 6 years ago,it has been possible to source the best independent lawyers and recommend them to ourclients. There is no obligation for buyers to use our recommended lawyers and our advicewould always be to consider some sort of consultation with an international lawyer in yourown country in an advisory capacity.You would expect to pay from 600-2000 Euro plus expenses for a quality English speakinglawyer in Albania. Price is determined based on how many units you buy. Further to ourinitial due diligence with a lawyer, in checking paperwork etc, your lawyer would be yourcontact through the initial contract procedure up until your first payment. They would also beon hand to remind you when further payments are due and to push for security of your titledeeds after completion of the project. At Albania Property Group we will be using our own inhouse lawyer to verify papers before passing onto the lawyers for final checking and stamps.How can I instruct a lawyer?Appoint a lawyer.Await POA certificate to be sent via email.Sign certificate in front of notary in your own country & have the POA apostilled.Return POA certificate to your lawyer in Albania.Receive by email draft of undertaking-contract.Liaise with lawyer for any issues or clarifications & agree on the draft.Await pre-contract signed by lawyer and developer.Transfer first installment into the developer bank account, based on with details suppliedby your lawyer. Other installments will follow during the construction period.What is the process after the initial reservation fee is paid?
  15. 15. Albania Property GuideAlbania Property Group − © January 2013 13QAQAQAParking is a problem in Tirana and the coastal towns. Our advice at Albania Property Groupwould be to purchase if you can afford it. It will be money well spent as an investment and willbe an important commodity when selling or renting. Prices will vary from 12,000 to 25,000Euro in capital city Tirana; 10,000- 15,000 Euro in Durres and Vlora; and 7,000- 10,000 Euroin Saranda.Is there a need for car parking?Albania has not been in the world tourist map before. However it has been moving up theleague table gradually over the last 4 years and is accelerating fast. A 20% increase of thenumber of visitors over the last three years, through the international airport in Tirana, provesthis.Albania Property Group has always said that this is the beginning stage for the ones wantingto go for rental income. Anyhow, it is important to understand that on the coast the rentalmarket is not great yet, but it is growing.One would expect to receive a maximum of 6% rental income yield in the high summermonths from best properties in the coastal cities. At same time rental income in central Tiranacan surely go higher than what you could make in coastal cities.Big tour operators have low presence in the country for the time being, but the situation ischanging gradually. Foreign operators have started cooperating with Albanian travel & tourcompanies. Once they are in, on a larger scale, then travel agents and holiday programs will besinging the praises of this stunning country and the rental market will shoot up accordingly.With ferries running daily from Corfu and Italy and major roads linking all parts of thecountry to their neighbors, already finished – tourism is becoming a very interesting andprofit-making business.What is the rental market like?There is no VAT on your purchase and no transfer tax. Most countries around the world willcharge a percentage of the purchase price, when buying a property in their country. This figurecan vary from the 2% to 15% in those countries. This is not the case in Albania.Should you decide to sell the property, there is a Selling Tax (similar to capital gains tax) of10% payable in Albania, on the difference between purchase and sale. There is also a flatincome tax of 10% on the rental income, should you rent your property out.Starting on January 2008 corporate tax was also reduced to a flat 10%, as is income tax.With all this in mind, your only extra fees in purchase will be real-estate agents and lawyers.For total tax and financial advice, Albania Property Group can recommend certified accoun-tants to help you through any questions you may have in this respect.What other costs do I need to be aware of?The tax benefits are better to buy as an individual for residential property, however a localcompany would be needed should you be venturing in securing land. With the latest improve-ments in the procedure of registering a company in Albania you can make such registrationwithin 24 hours.Can I buy as an individual or company?QA
  16. 16. Albania Property GuideAlbania Property Group − © January 2013 14QAQAQAExpect to pay around 150-200 Euros a year for maintenance in the residences withoutswimming pool.Then water, electricity, is paid based on consumption and an average monthly bill could goapprox 50 Euro, or 600 Euro per year if the apartment is used during 12 months.Approx how much are communal charges?Albania Property Group is very particular in the developments that come onto the marketthrough themselves. All the paperwork is checked with our lawyer and solicitor to be sure oflegality and title. It is nearly always the case that that developers will look to raise finance fromthe financial institutions, which will themselves cross check the credibility and finance of thedeveloper.This package gives the comfort of security to all our investors at Albania Property Group.Are there any guarantees from the developers?Albania Property Group provides full Property Management Services to owners of singlefamily homes, individual and multi-family apartments. We specialize throughout Albania,with superior service to protect your investment. Albania Property Group gives each propertyindividualized attention during every phase of management. Today owners require a widerange of services depending upon the property and market conditions.Albania Property Group agrees to look after the property, to maintain, to repair the propertyand to hire and to supervise all employees and other needed labor. For a monthly fee of 40-50Euros our Maintenance Services offered are:Maintenance and ServicesOne complete cleaning of apartment per month.Collecting & Paying utility bills and yearly taxes.Check of all contents against the inventory in the case that apartment is rented.Visual inspection of the interior, and check for any obvious defectsTest of all appliances and electrical equipmentExamination of all furniture and furnishings for wear and tearCheck of all sanitary equipment and plumbingTest of security services and equipmentPreparation and sending of monthly reportProperty Rental ServicesOnce you have committed to our rental management plan, we then take photos of yourproperty and upload them on our rental website www.RentinAlbania.com as well as the otherinternational portals with which we cooperate. In addition we advertise your property indifferent directories, search engines, and magazines as well as with tour operators. We cover allaspects of supervising the rental agreement.Albania Property Group provides best service to our international clients that have signedProperty Management Contract with our company. Due to our position in the holiday rentalmarket, we managed to sign recently an exclusive partnership with Novasol, a Danish companywhich since 42 years ago provides holiday properties for rent to Northern European clients.Novasol portfolio includes over 35,000 properties across 27 countries. Over 3 million clientsrent from Novasol every year.Property Management & Rental Services
  17. 17. Albania Property GuideAlbania Property Group − © January 2013 15QA Many of our clients have never been to Albania and want to visit to get a feel for the country,the coastline, cities, its topography, and the various areas for potential investment. Wewelcome you and highly recommend that you come to the country and take one of our“Albania Property Group Tours”.We are the most experienced in rentals and management in the Albanian market and now wehave 3 offices in Albania – Tirana, Saranda and Vlora.The property tour is a “rolling mini-seminar” through most key areas of the country - fromTirana, Durres and then down south to Vlora, Dhermi, Palase, Himara and Saranda. Ourprofessional people have deep knowledge about property issues, property management,maintenance expenses, and other issues specifically relevant to owning investment property.We believe in educating our clients, not applying high pressure sales tactics.Do you organize Property Tours?RentInAlbania.comRent in Albania (www.RentinAlbania.com) operates under the umbrella of Albania PropertyGroup and has been offering apartments, villas, offices and commercial buildings for rent inAlbania since 2005, with hundreds of satisfied customers.Comprehensive expertise and knowledge of local market.Exposure of your property to international renting portals.Advertising for free in our web sites.Detailed records and accounting reports.Professional screening of tenants.Professional relationship with tenants.Increased occupancy rates through strict screening and constant supervision.Efficient rent collections.
  18. 18. Albania Property GuideAlbania Property Group − © January 2013In the past few years, Albania has madeclear progress in a number of areasnecessary to allow the smooth runningof real estate finance and real estatetransactions. The lending environmentis greatly improved. Overall, there is agrowing awareness among the centraland local government of the importanceof the real estate sector and theyalready making reforms which aim tosolidify and improve its legal andadministrative framework.Foreign investors are present in theAlbanian real estate market trying notto miss the last European newcomer.Opening the country to internationalinvestors is desirable for increasingtransparency and building up expertise.Foreign capital is also important asadditional source of finance.An encouraging factor in favor of risingstandards in the Albanian markets overthe next years is the anticipation ofcontinuing GDP and consumer expendi-ture growth compared with the EUrecession.The economic knock-on effect willbenefit real estate growth, investmentopportunities and developmentprospects.The growth of the economy, the pricestability with a low inflation rate of2.5%, the favorable tax system, theincrease in urbanization, the demo-graphics and the Diaspora are determi-nant factors that are likely to deliver adifferent profile of performance to thatin Western markets.NATO membership, bright prospectsfor EU membership, a better politicalclimate, the developing economy andmoving real estate prices – Albania hasit all. Enthusiasm from local investorshas been substantial and interest frominternational investors is just emerging.The real estate market in Albaniacurrently offers specific opportunitiesand looks set to do so for the foresee-able future.16Immaculate beach in Dhërmi – VloraConclusion
  19. 19. Albania Property GuideAlbania Property Group − © January 2013For further details on how we cansupply you with more information onoutstanding investment opportunities,please contact us:17Tirana Office - HeadquartersKavaja street, Tirana Tower 59, Floor 6,Tirana, AlbaniaIlir Konomi - Managing Director - AlbaniaCell: +355 6720 80001+355 6940 00711Crystal-clear beach in Ksamil – Saranda

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