The Overseas Property Investment Forum

wesrae · #11 28-02-2008, 05:14 AM

Quote:

Originally Posted by Tirana transplant

OK, I know the area. I currently live directly on the Bllok. I read the DSR description and can't argue too much with it. I go walking over to the area frequently and would only point out that it is more than 5 minutes from the Bllok area. The artificial lake area is one of the better parts of Tirana and those apartments will have great views if they have an eastern, northern, or southern exposure. If they face west, your looking up the hillside. The development is near the zoo.... nice landscaping but pitiful facilites for the animals.

The road from the main portion of Tirana to that side of the lake is currently being upgraded and finally paved. I work with some international who live over there and they don't have too many complaints. I would suggest you visit Tirana and check it out in person before putting any money down that you can't get back. The artists concept looks a lot nicer than the area currently does and I believe there is a lot of other development going on cheek-by-jowl in that area.

Depending on what you are buying for, this could be a good investment. Just keep in mind that everything here is done at a much slower pace than advertised. They'll tell you the project will be finished in two years and it will end up taking three or four. Also be sure your contract of sale stipulates you will be provide with a deed (known as hipoteka in Albanian) upon closing. My apartment complex was completed in 2004 and still is not registered with the proper authorities. Not throgh any fault of the builder, though. The government is extremely slow getting things done sometimes.

Thanks for the advice. By comparison what is the Kashar disrict like? The developments appear a lot cheaper here and it is billed as an up an coming residential area.

LondonProperty · #12 01-03-2008, 02:56 AM

Hi all,
I agree with all of you that Albania has a great potential. I would say before you commit to any purchase get an independent english speaking lawyer who has dealt with foreign investors before.
I have been speaking to an Albanian chap in the UK who has an agency selling property in Albania to foreign market for more then a year and seemed to know what he was talking about. I don't know much about Tirana but he recomended the Lake area being a top end location as well as the Dajti district (5 mins drive to city centre) where the cabled car to Dajti mountiain is also.
I would recomend you can visit their site: albania (-) properties (dot) co .uk
Regards

Liam Bailey · #13 03-03-2008, 12:27 PM

Wesrae, Have you bought from DSR or EMU?

wesrae · #14 03-03-2008, 01:48 PM

Quote:

Originally Posted by Liam Bailey

Wesrae, Have you bought from DSR or EMU?

Hi Liam.

I have purchased through DSR. I reserved one of the one beds.

Liam Bailey · #15 03-03-2008, 02:33 PM

I work for DSR and I know we have some new photos of aspect shots from the complex, that is the view from each side of the building.

If you want to email me at media[at]davidstanleyredfern[dot]com and I will happily send you them.

Also if you want to discuss anything about the investment potential, I am head of international research, and specialise particularly in emerging markets like Albania. My contact number will be on my return email.

If you just want the images, feel free to go through the member of our sales team you have been dealing with.

Liam Bailey
Head of International Research

Tirana transplant · #16 03-03-2008, 06:32 PM

Just a quick response to the question in the quoted post and the one previously by wesrae.

Regarding the Kashar neighborhood. there is a reason the prices are lower. It is located on the outer ring road (Unaza) quite a way away from the center. The developments there are going up fast and look like 1960's british public housing. A slum in the making. I wouldn't buy there.

The same goes for Dajti. The commune is located just east of the Tirana city line and is the site of some of the most ill-thought out developments in Albania. Probably as a result of the tighter controls on building permits in Tirana and looser controls in the commune. Had the planning been done properly, the area would have potential. As it is the main roadway is too narrow and the developments have no setback, there are no sidewalks, and the buildings are crammed together among the foothills. I drove up there two days ago to go to the National park and am just appalled at the damage done to the area.

Quote:

Originally Posted by LondonProperty

Hi all,
I agree with all of you that Albania has a great potential. I would say before you commit to any purchase get an independent english speaking lawyer who has dealt with foreign investors before.
I have been speaking to an Albanian chap in the UK who has an agency selling property in Albania to foreign market for more then a year and seemed to know what he was talking about. I don't know much about Tirana but he recomended the Lake area being a top end location as well as the Dajti district (5 mins drive to city centre) where the cabled car to Dajti mountiain is also.
I would recomend you can visit their site: albania (-) properties (dot) co .uk
Regards

Tirana transplant · #17 03-03-2008, 07:25 PM

If your talking about rental to expats or the international professional community, then the central part of town inside the inner ring is really the only way to go. Prices are high, but so are rents. Zoo and botanical garden area is close enough in to have possibilities, but the Dajti project is a non-starter. Far from town down a congested road in a an area that is incredibly overbuilt due to being located outside the city limits and not subject to the stricter Tirana building permit controls. They have no setback and are piled one atop the other. Driving to the center is about 15 minutes on a good day, and hour on a bad (normal) day. Walking is probably 30 minutes.

If you want to buy and rent to a local, any of the outer suburb developments will do as the market for smaller, less expensive places still has some pent up demand.

Quote:

Originally Posted by mickthepropertyguru

Hello Tirana transplant:
Could you reccommend any areas to invest in in Tirane.
The Tirane Lake project looks good but is over €700m. This is located beside the lake and near the botanical gardens apparently and construction has already started which is a good sign.

The Dajti Hills project looks good at €450m but it does seem a little bit out of the way. How long would it take to drive/walk into the city from here.

The Jimmy project simply has no information at all. Not even meter age or any plans.
Which areas do you feel have the most investment going in to them in Tirane and which are the most desirable for rental ?

mickthepropertyguru · #18 03-03-2008, 08:17 PM

Thanks for the info Tirana Transplant

I'm afraid i have more questions.
What would be the typical price & rent of a one and two bed in the Blloku area be?.
What would the typical price in the inner suburbs be in good location ?
Which would your preferred area be in terms of Value, and rent ability, and resale ability in the future ?

cadavari · #19 03-06-2008, 07:30 PM

It is true, Albania has an emerging market.

Tirana transplant · #20 04-06-2008, 07:13 AM

Quote:

Originally Posted by mickthepropertyguru

Thanks for the info Tirana Transplant

I'm afraid i have more questions.
What would be the typical price & rent of a one and two bed in the Blloku area be?.
What would the typical price in the inner suburbs be in good location ?
Which would your preferred area be in terms of Value, and rent ability, and resale ability in the future ?

Mick,

A furnished apartment in a new building in the Bllok area will sell for 1800-2000 Euro per square meter. It will rent for 800-1500 Euro per month depending on location, view, and amenities. And tenant. Expats working for embassies and NGO's pay much more than locals.

As you move away from the central boulevard (going east or west) prices start to drop. The area between the main boulevard and Rruga Elbasan is also a good place to buy. Prices similar to the Bllok. There are some suburban developments going in on the southwestern outskirts of Tirana that are interesting. One is done by a Turkish builder in the village of Lunder. Looks like an American neighborhood. There are also new developments in Sauk and the surrounding countryside. It's a 15 minute drive to the center and is located in the foothills south of town.

Albania's Emerging Market - Page 2

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