PURCHASING PROPERTY IN ALBANIA 

Discover Albania. Owning residential or commercial real estate in Albania is easier than ever, thanks to THE latest property ownership provisions.

FREQUENTLY ASKED QUESTIONS ABOUT ALBANIA PROPERTY

1) Who can own property in Albania?
Personal ownership is the most common case for a foreigner purchasing a property in Albania. There is no need of creating a local company like in Montenegro, Romania,...

2) Are there restrictions to foreign ownership?
The restrictions pertain to agricultural lands only.

3) Do I need to create a company in Albania?
Only if you intent to purchase a land or to have a commercial activity.

4) Is Co-Ownership allowed in Albania?
YES. A co-ownership is an arrangement whereby two or more persons buy a property together and wish to provide for leaving their share (when they die) to someone other than the other co-owners.

5) Do local banks offer mortgage loans?
YES non-resident mortgage financing is available.

6) Do I need an attorney to buy a property in Albania?
In case you ask for independent attorney assistance we have negotiated with three of the largest law firms in Tirana a special all inclusive fees for property purchased.

7) What is the cost of the Public Notary?
For a transaction of €50.000 it can approximately be as low as €180-200!

8) What are the other costs linked to a purchase?
There is NO Transfer Tax (in Croatia 5%, in Montenegro and in Bulgaria 2% of the Purchase Price! In Turkey 1.5% as Buyers Tax plus electricity and water connection!).

9) Do you offer Property management services?
YES. For overseas owners who are concerned about owning property in Albania, we provide property maintenance services.

10) Do I have to pay state or local taxes on my property?
NO there is no state tax on real estate and local taxes in Tirana are ±20€/ year (yes twenty).

11) Do I have to pay VAT on land, apartment and/or any property purchase?
NO. The sale of buildings and land is not subject to VAT! (20% in most of the countries).

12) Do I have to pay a capital gain tax on resale of my property?
NO. There is no capital gain tax in case of personal ownership (instead of Bulgaria 17.8%, Spain 18% and 20% in Turkey or Poland)!

13) Do I have to pay a tax on rent?
A tax of 10% is due on the amount of the rent (25% in Hungary and Spain!).

14) Do I have to pay wealth tax?
NO. There is no wealth tax in Albania (France: 1.8%, Germany: 0.5%, Greece: 0.8%; Spain: 2.5% every year!).

15) Can capital and profits be repatriated without difficulty by a non resident?
There is NO withholding tax in Albania (10% in the US). Capital and profits can be repatriated once you have paid the legally due taxes.

16) What is the level of inheritance/gift taxes in Albania?
There is NO inheritance tax and gift tax is 3%!

17) What is happening in case of default of the builder?
Builder raises finance from a bank or guarantee via the bank the mortgage loan of the prospective buyers. Nonetheless the bank requests a performance bond from the builder to guarantee that in the event of the developer default, funds are available to finish the construction. Furthermore the quality and financial standing of the builders is always thoroughly checked. All companies that we work with are members of, and regulated by, the Albanian Chamber of Builders. These companies are medium to large in size with a good track record of providing quality products that are delivered in realistic timescales.

Albania is known to be the "Switzerland of the Balkans". This beautiful country with a rich history is situated across the water from Italy and bordering Greece. From its lovely beaches running up from the south to the historical protected sites, the huge snow covered mountain ranges and the busy cosmopolitan Capital city of Tirana, Albania offers that very special place for everyone's taste. 

In addition, Albania benefits from land and property being cheaper than most of its eastern European neighbours. Albania is now finally been recognised as a country offering huge potential gains in real estate investments. Investors are coming now to Albania to look at what it has to offer and have become aware that it will follow the same property boom as in Croatia and in Montenegro. Therefore, now is the time to invest in this beautiful country, so don't miss the opportunity while prices are still very low.

Off-Plan Apartments in Albania

One cost effective method of buying property in Albania is to buy Off Plan property. Purchasing Off Plan property in Albania means the investor pays a deposit to the developer to reserve an Albanian property before the construction has started or when it is in the very early stages of construction.

Land in Albania for Investment 

If you’re looking for peace of mind when you invest your money, then land investment in Albania could be exactly what you are looking for.

Land in Albania is a stable medium to long term investment opportunity with the potential to offer excellent returns. The rewards that can be gained from investing in plots of land in Albania are easy to see. Land is not only a tangible investment, which can be enjoyed for its own sake or can provide considerable returns. Overall prices have risen by up to 30% in the last 12 months.

If you compare this with even the most high risk stock market portfolios, you can understand why land investment in Albania is such an attractive proposition.

Why Buying Land in Albania?

• Well located land in Albania is limited and will run out of supply quickly.
• The returns on investments in land are high on a short term and even more on a medium term, because the demand is soon going to be higher than the supply.
• Any Nationality can do a land Investment in Albania.

Please contact us or look in our buying land in Albania (Property Search) opportunities. We are adding new properties frequently.

The fantastic location, comprehensive facilities and high build quality combined with excellent value for money will create a strong demand immediately and ensure an excellent rental and re-sale return for the future.

• Take first mover advantage!
• Personal ownership and co-ownership (no company need)
• Several large European banks already in Albania
• NO Transfer tax and Public Notary fees < 1%
• NO capital gain tax - NO inheritance tax
• NO withholding tax on repatriation
• NO VAT, state or wealth taxes
• NO foreign restrictions
• High capital growth  

We believe that investing in Albania is an exciting investment opportunity specially because of the ever-increasing demand for seaside properties in the Adriatic and the restricted supply of land for development. The rewards that can be gained from investing in this beautiful country are easy to see. Now is the time to invest in this beautiful country meanwhile the prices are still much lower than in other countries with similar characteristics and location.