It's commonly thought throughout the overseas property investment marketplace that Europe has few remaining opportune locations from which to reap a worthy reward. This year, Albania could be the country to disprove that preconception. It's true that more and more investors are looking further afield to the emerging property markets of what were once considered as being ‘exotic’ countries, like Thailand, Morocco, Philippines and Malaysia to name but a few. And whilst the indisputable facts prove the profitability of those markets, there’s one greatly overlooked yet clear contender for the title of Europe’s number one money maker of 2008.
Newcomers to the property investment arena like Montenegro, Switzerland, Ukraine and Finland have outperformed their European counterparts in recent years and in some cases still do. Long established investment heavyweights like Italy, Spain, France and Germany have perhaps been neglected, with the term ‘emerging market’ stirring frenzy amongst avaricious investors looking for the next big thing.
Interest in Albania's property market is slowly but surely becoming widespread. Overseas property investment specialist David Stanley Redfern commented on Albanian investment:
"Albania has fast become a realistic and affordable option for novice and savvy investors from around the world. Rising tourism has led to increased demand for quality accommodation, which has prompted an upturn in property construction to meet the increased demand"
Eastern Europe is a massively overlooked part of the world with an enigmatic timelessness that put simply, goes criminally underappreciated. And its there we find a country that borders both Adriatic and Ionian Seas and neighbours Montenegro, Macedonia, Kosovo and Greece. Under three hours away from Western Europe via any direct flight, we find low cost Albania and its many beneficial attributes. Albania’s low profile is set to stand proud amidst its ‘equals’ with its North Atlantic Treaty Organisation (NATO) unification later this year and upcoming European Union (EU) membership of 2014.
If we strive beyond any commonplace misconceptions relating to Albania and focus in on its rewarding aspects specific to property investment, we just might be more than a little surprised. With the exception of agricultural land which can be leased for ninety nine year periods, Albanian property purchase is predominantly free from restriction and open to both native and foreign investors alike, as it is for private or professional purposes. It undercuts any local European property prices and despite applicable public notary fees of around 1% and minimal capital gains tax, there’s no transfer, inheritance, state or wealth tax, no withholding tax on repatriation or value added tax (VAT) attached to any transaction.
Capital appreciation has been known to reach 30%, tourism figures have shown increases as high as 10% and by 2008 has equated to over one million economy boosting pounds. Albania's gross domestic product (GDP) is certainly set to rise from its already strong annual 6% growth and Albania’s steadily rising foreign direct investment (FDI) has exceeded the two hundred million pound mark this year.
Last but not least, the forty million pound expansion of Tirana International Airport now sees British Airways operating regular flights into Albania, with twenty nine worldwide destinations also available through other agents.
Find out more about property Albania and buying property in Albania.
Newcomers to the property investment arena like Montenegro, Switzerland, Ukraine and Finland have outperformed their European counterparts in recent years and in some cases still do. Long established investment heavyweights like Italy, Spain, France and Germany have perhaps been neglected, with the term ‘emerging market’ stirring frenzy amongst avaricious investors looking for the next big thing.
Interest in Albania's property market is slowly but surely becoming widespread. Overseas property investment specialist David Stanley Redfern commented on Albanian investment:
"Albania has fast become a realistic and affordable option for novice and savvy investors from around the world. Rising tourism has led to increased demand for quality accommodation, which has prompted an upturn in property construction to meet the increased demand"
Eastern Europe is a massively overlooked part of the world with an enigmatic timelessness that put simply, goes criminally underappreciated. And its there we find a country that borders both Adriatic and Ionian Seas and neighbours Montenegro, Macedonia, Kosovo and Greece. Under three hours away from Western Europe via any direct flight, we find low cost Albania and its many beneficial attributes. Albania’s low profile is set to stand proud amidst its ‘equals’ with its North Atlantic Treaty Organisation (NATO) unification later this year and upcoming European Union (EU) membership of 2014.
If we strive beyond any commonplace misconceptions relating to Albania and focus in on its rewarding aspects specific to property investment, we just might be more than a little surprised. With the exception of agricultural land which can be leased for ninety nine year periods, Albanian property purchase is predominantly free from restriction and open to both native and foreign investors alike, as it is for private or professional purposes. It undercuts any local European property prices and despite applicable public notary fees of around 1% and minimal capital gains tax, there’s no transfer, inheritance, state or wealth tax, no withholding tax on repatriation or value added tax (VAT) attached to any transaction.
Capital appreciation has been known to reach 30%, tourism figures have shown increases as high as 10% and by 2008 has equated to over one million economy boosting pounds. Albania's gross domestic product (GDP) is certainly set to rise from its already strong annual 6% growth and Albania’s steadily rising foreign direct investment (FDI) has exceeded the two hundred million pound mark this year.
Last but not least, the forty million pound expansion of Tirana International Airport now sees British Airways operating regular flights into Albania, with twenty nine worldwide destinations also available through other agents.
Find out more about property Albania and buying property in Albania.
About DSR Asset Management Ltd
DSR is an overseas property investment specialist, working directly with developers in more than forty countries. All properties are exclusive to DSR , giving an unparalleled selection of resale and new builds.
Please direct all media queries, requests for press information and editorial details, to media@davidstanleyredfern.com
David Redfern is the director of DSR Asset Management Ltd an overseas property investment specialist. David works closely with developers in more than forty countries and oversees the DSR education programme which lectures individuals and organisations on property investment. Advertise Your Private Overseas Property
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