Property Albania

Investment Property in Albania

Saranda Mount - Albanian Coast

Saranda Mount is a high specification resort complex of 50 luxuriously individual properties in a dominating position overlooking Saranda Bay and the stunning Greek Island of Corfu.

Summary

Pricing: £37,000 - £54,000
Development Type: Apartment
Listing Type: Sale

Saranda is widely regarded as the most beautiful spot on Albania's unspoilt coastline. The city itself sweeps up the hills and cliffs away from the sea giving most of the population an awe-inspiring view across Saranda Bay to the Greek island and popular tourist destination of Corfu.

For a long time, Albania has been viewed with disdain by many in the west, mainly due to the Ethnic Albanian situation in Kosovo. But with the political tensions all but over, the country is now growing into one of the strongest and most popular in Europe -- both with tourists and property investors.

Albania's economic fortunes are on the increase, with a fast-growing GDP and a massive amount of both EU and private corporate finance.

Albania is sat on some of Europe's largest oil and mineral reserves which have been left largely untouched since the fall of communism. Like many other ex-communist countries, Albania is following the same development route with an anticipated NATO entry date later this year with full EU accession being planned for 2014. The implication of both of these actions is evident.

The capital Tirana is bustling with international business interest, coming into the country to take advantage of low labour costs and Albania's central location as an export hub. The tourist resorts of Duress and Saranda (more notably Saranda) are crawling with 'sourcers' for major tour operators. It has already been confirmed that Club Med has recently purchased a very large plot next to Saranda itself for a future development project.

The current taxation and ownership situation makes it very easy to enter and exit Albania's property market with most of your profit in tact. There is no regulation regarding foreign ownership, no VAT on property purchases and minimal tax on rental yields.

Tourist footfall is very much on the increase around Saranda, partially fuelled by its close proximity to Corfu. Corfu offers the property investor an interesting price comparison, being within site of Saranda, sharing a climate and beautiful warm sea, but with prices between 8 and 15% higher in Corfu, than in Saranda.

Features

• Mortgage Available