An overview of the real estate market of Albania

Until 1960, the country was closed from the capitalist world and was under the influence of the USSR. Today's democratic government, headed by Prime Minister Edi Rama, has embarked on a course towards integration with the European Union. Albania is now a member of the UN and the WTO, and in April 2009 the country applied to join the European Union. Construction and infrastructure development is actively developing in Albania. This is especially noticeable in the example of the capital of Albania, Tirana, where the urban infrastructure and nightlife are quite comparable to the level of large European cities. The process of buying real estate in Albania does not have any significant differences from the typical one in Europe. There are no restrictions on the purchase of real estate by foreigners in Albania. In addition, in recent years, many Russian-speaking real estate agencies have appeared on the coast, with which the purchase will be much easier. Periodically, Albania announces free visa-free entry for Russian citizens for summer time, so in 2014 visa-free entry was announced from May 25 to September 30. The rest of the time a visa is required. Resorts of Albania The main resorts of the coast of Albania are Durres, Vlora and Saranda. A significant part of the coast of Albania is occupied by natural parks and reserves, and building there is impossible. In particular, this applies to the north and center of the country. The most developed resort is Durres . Durres is located on the site of an ancient city founded in 627 BC. with many preserved historical monuments - for example, an antique amphitheater built in the 2nd century AD, as well as a fortress from the 5th - 6th centuries. Durres is the second largest city in Albania, with a population of about 150,000. The coastline within the city limits stretches for 6 km, and the width of the beaches is 150-180 m. The distance to Tirana is 39 km and about 35 minutes drive. The distance to the international airport near Tirana is 30 km. Also Durres is the largest port in Albania, with which there is a well-established water connection with Italian ports. South of Durres, on the border of the Adriatic and Ionian Seas, Vlora is located, with regular ferry connections to Italy. The weather is sunny at least 274 days a year. Recently, the tourism sector has been actively developing in Vlora and, accordingly, the number of cafes, restaurants, bars and hotels is growing - especially in the vicinity of the prestigious Cold Waters (Uji I Ftohte) district, which is famous for its mineral springs. The main resort in the southern part of Albania is Saranda , located between the highland line and the Ionian coast. The climatic conditions in Saranda are typical of the Mediterranean coast with warm clear waters. Saranda is in close proximity to the Greek island of Corfu - the ferry ride takes only 40 minutes. Prices Today in Durres, Vlora and Saranda there are a lot of new buildings by the sea. They are rented with a full European finish. These are, as a rule, ordinary residential buildings, often without pools, although there are exceptions, with lifts, the average price is 600-900 euros per sq.m. on the first or second is quite achievable. Objects of high quality finishes can be offered at a price of 1200 euros per sq.m. On average, prices in Durres per sq. m. are 600-1000 euros. One bedroom apartment on the first line in Durres can be purchased for 40,000-65,000 euros. The average cost of a two-bedroom apartment is 55,000-10,000 euros. The cost of apartments in a five-minute walk from the sea is 35,000-65,000 euros for one-bedroom apartments and from 45,000 to 70,000 euros for double apartments. Prices in Vlora vary in the range of 500-1400 euros per sq. m. A two-bedroom apartment on the first line will cost 65,000-100,000 euros, within walking distance to the beach - 45,000-75,000 euros. The cost of a two-bedroom apartment in Saranda on the first line is about 50,000-75,000 euros. The cost of apartments within walking distance to the sea is 55,000-70,000 euros. One-room apartments on the first line cost an average of 40,000-50,000 euros. With a sufficient number of apartment buildings on the coast, the segment of cottage development is currently almost undeveloped. This is due, first of all, to the lack of demand for individual houses costing from 200,000 euros in Albania. Transport Tirana has an international airport, but there are no direct flights from the Russian Federation. It is possible to take a ticket to Tirana on a Turkish Airlines flight via Istanbul or Aegean Airlines via Athens, as well as on Austrian Airlines via Vienna. In addition, there is the option of arriving in a visa-free Montenegro (say, to Podgorica or Tivat), from where you can get to Albania (northern part) by car in an hour - from Podgoroditsa in 40 minutes, from Tivat in about 1 hour. Many choose to fly through Corfu, and then go to Albania by ferry. Daniil Burygin HomesOverseas.ru The editorial staff of the portal would like to thank Alket Zani ( Albania Property Group ) and Elena Nevskaya ( Adrionika ) for their help in preparing the material.