European Property-owners Association threat with halt of investors

TIRANA, Dec.8- On the World Day Of Property, European owners have pressured the Albanian state, saying they might provide negative feedback to investors interested in Albania unless the government undertakes serious reforms and measures to settle all property claims and respect the rights of legitimate and lawful owners. In a two-day meeting, the Albanian Owners Association has identified several issues that continue to remain a problem in Albania, especially as it continues towards European integration. The Executive Council of the Association has expressed the opinion that the matter seems common for all ex-communist countries, but in 17 years of pluralism Albania has done nothing to address it. Representatives from 11 countries have made a direct connection between increased property rights to increased investments and economic development and, ultimately, to integration. The Association warned that if the, government does not act to seriously tackle this issue they will urge investors in their countries not to invest in Albania. The serious threat was also written in a joint statement at the end of the conference proceedings. The compensation fund has been judged unrealistically low by the Conference. The Albanian Owners Association has repeated its determination to seek legal assistance from the Strasbourg Court in case their claims are left unresolved by the Albanian judiciary. Actually, the European court has almost 200 claims out of which five have already been ruled in favor of property owners. These five cases have resulted in fines of 1.5 million euro being imposed upon the Albanian state, which is 20 percent of the annual compensation fund set aside in the budget. Previously Bamir Topi, now president of the Republic and a traditional promoter of property rights in the right wing, has consistently criticized the way property claims and issues are being settled and he had called for more serious reforms.