Hi Sean

Albania holds many opportunities for the intrepid investor but like so many investments you should really look towards the mid to long term for your best return on your initial investment. We have a large selection of land in land and on the coast although land parcels tend to be large compared to others that you may see available in certain other countries nearby. Generally the minimum size is around 5000 m2 and with prices on the coast going from between 35 and 200 euros per m2, the price is fairly prohibitive to most other than the bigger developer or consortium.
Local governments are very keen to promote business in Albania and getting planning permission is very easy within reason. Thankfully however there are strict guidelines as to the size of development in the various districts. Build costs are still low and we feel, at Albania Estate, that there is a good opportunity for developing and selling while the market is in its infancy and supply is still low in the most desirable locations.

It is not necessary to start up a local company to buy property in Albania, unless you wish to use the land for a touristic development such as hotel etc.
Corporate tax is however only 10% now and so you may feel this is advantageous. Nearly everyone that buys through us however buys as an individual.

We would be happy to meet you in Tirana to show you land or other investment opportunites with "off plan", should you come over in January. We will be running the first property tour in February, to Albania, also if you were interested.

Rgds

__________________
.

Hi stingo
Hope that offer goes for me too? What are the roads from Tirana to the coast like in January / Febuary.
If you can send me any infomation on Albania I would be most grateful.
Regards
Martin

Of Course, you and anybody else with an interest is most welcome.

If anyone is interested in any information on Albania property investment or would like to join us in an organised property tour of Albania then please private message myself or go through our website at Albania Estate.

It did snow in Tirana for the first time in about 8 years, last month and on the coast for the first time in 20 years but now the weather on the coast from Vlora and south is around 8 -10 degrees and the roads are just fine.
The weather becomes mild on the coast from around mid March and can become hot from June. The infrastructure is improving all the time on the road from Tirana to Saranda via Vlora or Frer. This is making journey times quicker by the month.

Rgds

__________________
.

We at Albania Acquisitions have researched the market there and believe that the key town for Capital Growth and expectant Rental Returns is Tirana.

Why Tirana?
1) Albania’s Capital & largest urban centre
2) A leading example of successful structural change
3) Location Location Location
4) City of Universities
5) Local & Foreign Companies’ in Tirana
6) Entry Level Prices at just Euros 550 per m² - Rezidenca Ime Development. Whereas in Bucharest, you can expect to pay between Euros 1,600 - 2,400 per m²

If you fancy a change of scenery this year, why not consider Saranda, the popular coastal resort that overlooks Corfu, Greece. Flights commence from Gatwick to Corfu on 28th March 2008 and with just a 10 minute hydrofoil journey across the Ionian Sea, you can be in your apartment, sipping a cool refreshing drink whilst soaking up the sun.

Our Research points towards
1) Changing Demographics / Positive Rental Potential
2) Affordable Property Prices
3) Accessibility to Europe

JDmatt1:

I think you are very disrespectful in your creating the impression that all agents are liars, when you say don't listen to agents that tell you prices will triple in the next three years.

I work for overseas property agent David Stanley Redfern, and we would not lie to our clients about an areas growth potential as we intend to maintain our good reputation and this requires utmost honesty at all times.

I strongly believe that property prices in some areas in Albania could, not triple but easily double in the next 4-5 years. Albania, like many Eastern European states are taking off because of their adriatic coastlines and proximity to established markets. The established markets give a good guide as to how the emerging markets will perform in the coming years.

Tour operators and tourists are looking increasingly looking for places off the beaten track, that they haven't been to before and often where they can holiday the cheapest, the emerging markets of Eastern Europe tick all those boxes. Albania is also beggining to attract big business because of its central location and because the buinesses can be set up and run very cheaply. Business is the biggest advantage to the capital Tirana, and as business and tourism develops Albania's economy and the infrastructure is developed it will be attractive to yet more business. As the market and economy continues to grow it may also start to attract some of the major retail chains.

As business develops in the capital, more and more Albanian's get jobs, possibly with substantially higher wages, either at the start or through promotion. This spreadng of afluence puts up living costs, wages and house prices follow.

Like I said business is developing in the capital and growing tourism is making an impact on the coastal areas.

Saranda is a great example, you can see the Greek island of Corfu out across Saranda bay, but property is a fraction of the price for a similar climate and coastline. Club MEd has just bought land beside Saranda, and as the infrasturcture develops it will begin to rival Greece as a holiday destination, as this growth into a popular tourism destination house prices in the area will grow rapidly. Growing tourism breathes life into an area, hotels, B&B's novelty shops, even small street stalls can make a healthy living again spreading afluence in the coastla areas upping living costs, wages and house prices.

The very fact that Albania has leapt onto the global property investment scene will cause prices to rise, as they have previously had to be affordable only to the locals, their value now starts to climb to what they are worth to people with more money, in line with the rises that come from rising afluence in Albania's general population.

I agree its one of the best places at the moment to invest but really tired of hearing from property companies that new builds are the only way forward. This is purely for profit. Its far easier and less complicated for these companies to sell 250 units under one roof than 200 properties around the city and the profit levels are far far higher for the company. New builds have a fair degree of risk too. There is countless people who could attest to this especially in Bulgaria. Yes a far greater degree of research and scrutiny has to be done with resales but is this not all part and parcel of investing?

Does anyone have a opinion on renovating properties in Tirane ? Mabey this would be an ideal spot to buy 3 or 4 properties that need a fair bit of work but in excellent locations. In 7 years i think these properties will have a far higher profit margin that the new builds that are going to be flooding in soon? i would love to hear any opinion or any critical responses? Is there somebody who has done this before in another city in the early stages ?

In my point of view that the growth would be at its very best on new development with in Tirana. The new assets will work better for rental due to the increasing couples and students.

In my point of view that the growth would be at its very best on new development with in Tirana. The new assets will work better for rental due to the increasing couples and students.

This is very true but you may find most investors here will not be buying to let. Its purely about Capital Appreciation. If you are a first time investor, there is also many issues that you should know. I'm not implying all agents are bad at all, but if you have empowered yourself with enough knowledge of the property industry then and only then is it safe to go on a Inspection Trip. Sometimes there is a black sheep in every flock and unfortunately they give the Industry a bad name. And before anyone asks about my loyalties. I am an small investor eager to learn and share views which are very relevant. I would be happy to give you examples of pitfalls that buyers can fall into.

I would like to give a couple of pointers especially to First time buyers which I feel is VERY relevant. My goal is to enlighten and not to offend.

1)The most important thing about any investment is an EXIT Strategy. (getting your money out of the investment) Lets talk about your money

2)Research is the key ingredient in any exit strategy

3)Every city is divided into districts and areas. Find out what is the price per square metre for each part of the city.

4)Its vital to get info on the reputation of developer you are interested in.
Talk is cheap, if an agent tells you ...”O we have dealt with this developer for a long time and they are excellent” This means nothing...they should have signed documentation to back it up.
They should have documentation on proven Rental Income. “You can expect 5% or 6% return...” means nothing if the agent can't prove it on paper which is difficult for agents to do but they should strive to prove it to you and also documentation on their fees. Some people buy properties and don't even know who the Developer is. Most Property companies are not the developer. Some may brand it as their own but have given the contract to another developer.
Documentation is nothing unless you can take it home with you.

5)Property Companies can get between 10% and 20% as a middle man on the price of the unit they are selling. People never ask “HOW MUCH DO YOU CHARGE IF I WANT TO SELL THE PROPERTY THROUGH YOU !!!!!” This can be up to 10 % again. Companies can make up to 25 – 30% or more from you on the price of the unit...............(I would prefer to keep this in my pocket.) There are no laws on overseas property companies to stop them getting such huge profit where you are buying in a country where you dont reside in and few laws to protect you. Your Money again.

6)Even if a contract states you will be refunded if the developer goes bust......this cant be trusted.
Only in France are you usually safe if this happens because other developers take it over and finish it and are funded to do so i believe. There is no other country in the world that pertects the buyer more, apart from the USA which gives a cooling off period after purchase when you can actually change your mind and get your money back within a time period. Every buyer can get caught in the heat of the moment and should be allowed 72 hours to cool off and rethink their position but sadly this isn't the case. Outgoings ,Your money !!!!! Don't rush decisions.

7)Capital Gains TAX !!!!!!!!!! Even if its only 3% - 5% like Cape Verde you still have to pay the difference between that and the Capital Gains of the country you reside. Ie. Ireland CGT 20% . So you pay a little in Cape Verde but the rest to your own government
Are there ways around it ?, no legal ones as far as i'm aware of. If an agent tells you “what the tax man doesn't know wont hurt him” This person is not looking after your best interest....only their commission. (The Irish Tax revenue is like a pissed off woman, she will have her vengeance. And thats if there is Dual Taxation! If there isnt Dual Taxation, that's another ball game! More of your money.

8)What ongoing fees are there in keeping a built apartment i.e. Local Tax, Maintenance, Community fees, utilities, house and content insurance, etc (very important for coastal complexes as spa's , gymnasiums, grounds and especially golf courses cost more than you may think and it will increase nearly every year) What about rental management costs.? Some even charge you a yearly fee for the privilege of using them................Even more of your money.

9)Furniture Pack: How much will it cost to kit out your place. Get an exact signed quote for a package before you sign on the dotted line. eg: If your told “It will only set you back 5 – 7 thousand ”........it will cost a hell of a lot more than that usually. Double or triple. Again signed documentation here is critical is showing exact prices. This has stung countless people.

10)What happens if some owners don't pay their maintenance/community fees, (sometimes the other apartment owners have to cough up extra money to keep complex open) some terrible examples in Spain of complexes falling into disrepair. It has happened, it will happen again! More of your money.

11) Beware of Company Credibility pitch. Some agents will give an incredible pitch of how good their company is, how good their rental management company is, how big they are, how many properties they have sold, how many regions they deal in and how easily they will sell your property when you wnat to sell again. This can be a smoke screen. After this pitch people fall into a false sense of ease. Talk is cheap..........they should have written signed evidence of proof of everything that they promise you. tell that to the people that were promise 5% -7 % rental expectations in Sunny Beach and that they will have no issue selling their property with them in the future.

Would you believe I bought a place and knew none of the above. So off plan can be a great investment but do your homework.
I have bought an off plan property before and definitely will again but be careful.
Now honorable property companies can actually print this off an show it too your clients in that you cover all or most of the above pitfalls.
Love everyone,
trust few,
paddle your own canoe.