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:
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/
Media enquiries should be directed to Liam Bailey: media@davidstanleyredfern.com
