Albania enters listings of international real estate agencies

TIRANA, Jan.21- Albania has become a real estate market being targeted by many international companies. Political stability, high probability of EU integration as well as relatively cheaper property prices have made Albanian real estate especially attractive in the coastal regions. The British agency, David Stanley Redfern, which gives orientation tips in the real estate market, has judged Albania’s tourist potential quite positively. Albanian real estate prices have steadily increased to double or even triple their 2000 levels.
The interest expressed in property markets has been overshadowing other successful sectors. “With a low cost of living, no capital gains, no VAT, no transfer tax, and the cheapest prices in Europe, Albania is the new place for property investors,” wrote Home Property, a prestigious British magazine last year. The advantage of Albanian developments in making entry-level property investment in the country easy, affordable and attractive has multiple dimensions. According to expert David Hentsell, the property values in Albania can go up as much as 25 percent. Other advantages of investing now in Albanian property markets are the notary fees which do not surpass one percent of the property price and the lack of stamp duty.