Recently Albania has put itself firmly on the map, both as an
increasingly popular tourism destination, and an emerging market
on the international property investment scene. Things that
shrewd investors and experts in the field like David Stanley Redfern
Ltd look for are rapid growth, and/or reasons and factors
that make rapid growth in the near future probable. In the case
of Albania, these factors include: entry into the North Atlantic
Treaty Organization later this year, into the European Union in
2014, and of course rising tourism, growing by 10% per year.
Other major advantages Albania offers investors are the lack of
restrictions on foreign ownership of property, the only
restrictions being that foreigners can only make a commercial
investment if its value exceeds three times the cost of the
land, and foreigners cannot buy agricultural land - they can
however lease it for 99 years. Also worth a mention is that
Albania is already attracting some of the major European banks,
which will make financing an investment easier.
Albania also has many tax advantages like the lack of capital
gains tax, no withholding tax, no inheritance tax, no Value
Added Tax on property purchases, no state or wealth taxes and no
transfer tax. The total round-trip transaction cost is also very
low, with less than 1% going on public notary fees.
Albania's potential for growth is definitely among its biggest
attractions: Gross Domestic Product growth is an almost
incredible 6% and likely to accelerate, and capital appreciation
can reach up to 30% depending on the investment.
As always, with a finger on the pulse of international property
markets, David Stanley Redfern Ltd had to give their clients the
chance to get a piece of the Albanian action. David Redfern told
me why:
"Just as the other Eastern European States hit us hard and fast
with their capital growth, we believe Albania will do the same.
It is becoming a pattern, these under-developed states, that
were once surrounded by similarly under-developed neighbouring
states, see their neighbours jumping onto the international
tourism and property markets with a bang, and start to take
steps rapidly to ensure that they are not left behind. They have
a lot of room to work with; property prices and living costs are
generally low, which become immediate selling points to tourists
and to overseas property investors. Their generally good
climate, which is always big business in the tourism industry,
means their low prices make them a low cost alternative to some
of Europe's hottest tourist destinations."
David Stanley Redfern Ltd are offering investors the chance to
get in on the action with 1-2 bedroom apartments in
the Shengjin Beach development. Starting from £32,088, most
of the apartments enjoy sea views and will be supplied finished
with ceramic tiling, electrical and plumbing connections ready
for installation. The development is two buildings frontline to
the beach, both have lifts, the ground floors will be retail
units and there is a communal garden to the rear. Activities in
and around the development include, surfing, windsurfing, beach
volleyball, skiing, caving, trekking and sampling the variety of
restaurants and bars from the diverse cultural and ethnic
backgrounds in the area.
A few years ago Albania was a destination very few people (if
any) would consider a holiday destination, but huge advances in
democracy and development in the last few years have made
Albania not only an attractive holiday destination but a very
affordable one.
Albania: "it's a place where history is still waiting to be
discovered", wrote Matt Gross in the December 14 edition of the
French newspaper: The International Herald Tribune. In two
paragraphs about Albania's history he had me wanting to drop
everything and jump on a plane. Something that exponentially
growing numbers of tourists are doing year upon year.
Undoubtedly not all those tourists will be going in search of
the history, the climate is another big plus point. The quickest
way I can introduce you to the tourism extraordinaire that is
Albania is to tell you that you can rent a double room in a good
hotel in Albania's Sarande for the equivalent of around £20,
from where you can also take a short hydrofoil ride to the Greek
Island and tourist hot-spot of Corfu.
This is symbolic of another tourist attracting feature of
Albania, it's cheap. For decades Albania has been one of the
poorest states in Europe and so on holiday there you will, as I
said enjoy the temperatures and sunshine of Greece for a
fraction of the cost.
Call David Stanley Redfern today for a free no-obligation chat.
Find out more about David Stanley Redfern Ltd's investment
properties in Albania at: http://www.davidstanleyredfern.com/investment-property/alba
nia/
Media enquiries should be directed to Liam Bailey: media@davidstanleyred
fern.com.
About the author:
About David Stanley Redfern
David Stanley Redfern Ltd is one of the U.K.'s leading overseas
property investment specialists. The reasons for this are an
incomparable range of international properties spanning 40
destinations worldwide, and unrivalled customer care, which
lasts long after the purchase has been completed.
