Property for Sale in Albania

Location, climate, economy

Albania (officially Republic of Albania) is a country located in the southeastern part of the European continent, on the Balkan Peninsula (in the west), on the Adriatic and Ionian coasts. The country is a member of NATO and UN.

The climate on the coasts is Mediterranean, to the east - continental. The temperature in summer is up to + 30°C (the heat is more easily tolerated due to the Mediterranean breeze), in winter - from + 6 to + 10°C. About 300 clear days a year. In the mountains, the temperature drops to -22°C.

The country's economy is based on the following sectors: services, agriculture, food and textile industries, oil and mining, cement and chemical production, ferrous metallurgy, hydropower, and tourism.

Why buying property in Albania is profitable

Experts predict economic growth in the country at a rate of 5%. Real estate in Albania (new building, residential and commercial resale) is one of the most inexpensive on the continent, taxes are low as well. The relatively low cost of real estate in Albania is explained by the fact that its infrastructure, especially resort infrastructure, is still being improved: sophisticated Western tourists need more first-class hotels, golf courses etc. Modern logistics solutions could also make the country much more convenient and attractive.

In addition to the favorable price, there are other good reasons to buy property in Albania:

• rental income is 6-7% per annum;
• there are all prerequisites to consider the real estate market in Albania interesting for the acquisition of a “second home”, since the country has a long coastline and you can buy a villa or apartment by the sea (investments in new coastal roads have facilitated access to many beaches and spa resorts), there are three deep lakes partially located in Albania;
• the Mediterranean warm climate can be combined with a holiday in ski resorts (residential real estate in Albania is growing in popularity among investors in such promising locations);
• the number of visiting tourists is growing rapidly; in large cities there is no shortage of Internet cafes, French pastry shops, Irish pubs.
• feedback from home buyers in the residential complex confirms the compliance of the facilities under construction with building standards.

The winners will be those who pay attention to this market earlier, since demand and real estate prices are likely to increase in the medium term.

Property price in Albania

Minimum price 1 sq.m. in a new building, according to the number one real estate search engine - GEOLN.COM is 745 USD.

On the secondary market you can buy:

• apartments (1 bedroom, 62 sq.m) - 54,000 USD,
• villas (4 bedrooms, 160 sq.m) - 105,000 USD.

Due to the high dynamics of price changes, it makes sense to use information that is current at the time of the request.

Property types for sale

The following types are on the market:

• residential (primary, secondary) - apartments in Albania, houses, villas, etc.,
• commercial fund (hotels, shops, offices, etc.)
• land plots.

Real estate website in Albania

The sale of real estate in Albania is transparent and safe, however, in order to minimize risks, you should seek advice and legal assistance from experienced professionals. The GEOLN.COM website (with a convenient search interface) helps investors, since it contains a full real estate catalog. Various offers for sale of new projects without intermediaries from developers or owners are presented there.

Buying property in Albania by foreigners

Foreigners have the right to acquire property in the country. Exception: agricultural land with an area of more than one thousand square meters.

Buying real estate in Albania is profitable due to the relatively low investment price, given the possibility of earning income from renting the property out, living in a developing country, relaxing on the sea coast or in ski resorts with a comfortable climate.