I'm surprised you do not already have some. Are you not marketing a development in Saranda?

Yes, it is very new to us, our operations manager is going out later this month to inspect the development and I will have some after that, but I am a writer so they would be good as a visual aide to write descriptively, sooner the better

Hey all

I was looking to buy two appartments in Albania. One in the capital city of Tirana and the second near the cost so either Durres, Sarande, Vlore, Shengjin. Because i'm tied up with work at the moment, i've not been able go and see in person what Albania has to offer and the internet is very limited with the information of bying in Albania. And the one's i have seen are vague in terms of their correct location. What's the best course of action?

All ideas are very welcome and much appreciated.

Hi Ella,
Glad to see you are looking at Albania for property investment. We have been selling properties in Albania since last year, and we know EXACTLY where the developments we source are located

Feel free to have a look at our website - Albania Investment Property : Fresh Property Co.

Everything is changing so quickly in Albania, and everyone will be talking about this amazing country soon.

Fiona

I am a total Albania novice, I admit I have not given it any thought before but this thread intrigues me.

Given Albania's proximety to Western Europe any buyers from there will, presumably, want to utilise their investment themselves especially as it seems the Rental market is not yet there. This means the property will be unoccupied for large parts of the season so the owners will have more oppurtunity to use it themselves.
Given this, what is Albania like at the moment as a destination to visit? Is it family freindly, what are the restaurants like, health care, infrastructure etc..etc... ??

Hi Yogi, yes, the rental market is coming. I am actually writing an article at the moment on the rental market in Albania, as there are 2 markets - buy-to-let long term and short holiday let. I will be publishing this article next month.

But yes, you are right, for buying coastal properties in Albania, you can do well to rent it for the holiday season and use it yourself outside the main season.

Yes Albania is family friendly, the restaurants and food are excellent - no McDonalds or other horrible food - it's all organic (for the moment). Lots of fish, salad, lamb, beef and fresh vegetables. There is also a strong influence from Greek food and Italian food.
I havent needed the health care yet, but I havent heard anything particularly bad. Infrastructure is improving - new highways between the main towns are under construction and will be fantastic when finished. This should be around 2010, and some around 2011, maybe sooner.

I guess you are thinking to use it yourself, rather than investment?

Cheers
Fiona

As I said, haven't given Albania a great deal of thought before but it will be a definate reserch project for me.

My line of thought is that it is a relatively easy place to get to (do any Budget airlines fly there?) and because of that people can buy a property as an investment, rent it out if posible but also get some personal use out of it too, especially if it is on the coast. It is not to far to go to from the UK for a long weekend, much like Spain.

What sort of price tag are you looking at for, say, a 2-bed frontline on the coast?

My big concern, not just with Albania but with virtually everywhere at this time, is will property be hit by the downturn in markets and (I hate to use it but) the Credit Crunch? Wouldn't it be better waiting a few years until it, possibly, is over?

Currently from the UK, BA flys to Tirana from approx £170 return, where you can access Durres Beach (30 mins drive) or Vlora Beach (3 hours drive).
Or now Easyjet flies to Corfu (for the main season - starting May), where you can get the ferry across to Saranda in about 30 mins. Or you can fly into Athens, which might be a slightly shorter drive to Saranda, than from Tirana. Some people are starting to take short breaks in Albania.

For a 2 bed frontline on the coast (proper frontline without a road in front), the prices start approx 900-1200 Euros/sqm depending on the facilities and amenities and quality. I know of a luxury offplan one in Durres for 900E/sqm, and in Saranda I have seen a completed apartment for sale for 1000E/sqm, 100sqm = 100,000 Euros.
You can get 2 bed sea views very close to the beach for less, of course.

Albania has not really been affected by the credit crunch, as mortgage financing is fairly new here and prices are so low compared to Europe. The markets most affected by the Credit Crunch are those where people have high mortgage financing and credit - US, UK, Western Europe.

Money is pouring into Albania now, as roads are being re-done, and the International Airport has just received funding to double in size. I dont think demand will stop in Albania from the credit crunch.

Is it not the case that Albania is a bit like another Northern Cyprus?

You are told you own the land/property but if push comes to shove you don't?

It is a little similar. But when the Communist government left Albania, they gave back the land. The land is now being recorded accurately and properly. 87% of all land in Albania now has correct and proper title.

We always recommend you use a local solicitor when buying to go to the Title Office to check your property/ land title before signing any contract or paying any money.