"These three new properties, on top of the existing ones which were also in prime locations, give us undoubtedly one of the most promising Albania portfolio's being offered in one place."
The Jimmy Complex was an existing property and is already sold out. Its prime location on a hill a short distance from Tirana's artificial lake, meaning it is one of the most beautiful areas of the city. At just £30,000 for a 1 bedroom apartment in the complex it is easy to see why they are so popular.
Another of David Stanley Redfern's new properties are also in the popular area surrounding Tirana's artificial lake:
The Tirana Lake District Residencies is an off-plan apartment complex split into three buildings running up a hillside, the first at the bottom of the hill has a cul-de-sac behind it, the front of the second building is front to the same cul-de-sac, and there is another cul-de-sac between the second and third buildings. Because they run up quite a steep hill the views from even the first building are fantastic city-scapes from the front, and the second building has great views of the city from the higher stories, the third building has amazing views of the city from the front and of the Dajti Mountain range and Tirana Lake from the rear. Prices start from £56000 for a 1 bedroom.
The Dajti Views Development also has amazing views of the Dajti Mountain range and of Tirana Lake. This again is in a highly sought after area, and consists of one hundred apartments, as well as commercial areas and parking. All amenities are in walking distance and the cable car up the mountain is also close by. With prices starting at only £26000 for a 1 bedroom apartment it is easy to predict the popularity of this new development.
The Classis Development is also in a highly sought after area, or in this case a highly sought after street: Duress Street. The complex again consists of offices and apartments, and its location; frontline to Duress Street means it will be easy to find tenants from the student body and young professionals moving into the area. Again the biggest feature of this property is the price, just £25000 for a 1 bedroom apartment.
The prices are so low because Tirana is the cheapest capital city in Europe to buy property, and by no means a reflection on the quality, which is of the highest standard across the three developments -- all built by an established building firm with many successful developments under their belt. The low prices means realistic yields are 5-7%, but will grow as tourism to Albania increases and the country's image is improved in Europe and around the world, which is the focus of many government schemes.
Capital appreciation is likely to reach 15% in the coming years, and will continue to rise as the country's image improves and its popularity with foreign investors grows. Capital appreciation is likely to sky rocket to more like 30% on Albania's entry into the EU.
Find out more about Albania investment property at: http://www.davidstanleyredfern.com/
