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These are some of the most frequently asked questions in our 15 years in real estate business in Albania. Let us know if you didn’t find the answer you were looking for.
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Can foreigners buy property in Albania?
The answer is Yes!
There are no restrictions regarding buying property or owning property in Albania by forefingers or non residents. The only restrictions apply to agricultural land.
What is a Certificate of Property (Title) ?
The Certificate of Property is a legal document issued by the property Registration Office, by which you are recognized as owner of the property. In the past you could receive only two copies of it (in case you lost it), but now you can receive it electronically.
What documents do I need to buy Property in Albania?
Usually you need just an internationally valid document like Passport. But we strongly recommend to bring with you a document with an apostille seal, that proves you civil status, single, married, divorced or widowed. This will be very important in case of resale of the property
What types of contracts are used for buying property in Albania?
- . Preliminary contract. (or a promise to buy contract)
This happens when the property is under construction or is completed, but, hasn’t been registered (hasn’t obtained the Certificate of Property) yet.
- Direct sale contract.
This is the standard property sale contract. In this casa the property is registered under sellers name and it should be fully paid within the terms agreed by the parties in the contract. the property can not be registered under buyers name, unless is fully paid.
- Direct sale with reserve contract. The property is registered, but it isn’t paid fully by the buyer party. The reserve will be removed after paid full
How is the process of purchase of a property in Albania?
.
At the center of this process is the notary public.
- In the case of the direct sale contract, the selling and the buying parties or their appointed representatives with a power of attorney, appear in front of the notary public to sign the contract. A legal translator must be present in case of foreign citizens. The translator signature will appear on the contract, otherwise it is not valid. (The legal translator must be present every time a foreign citizen sign a whatever document in front of the notary public)
Any power of attorney that has been given in an notary office out of the Republic of Albania, must have an apostle seal to be valid. In addition, it should be legally translated in Albanian.
The parties take turns signing the contracts as requested by the notary public. Usually it consists of four copies, one stays at the notary, each party takes one copy and the fourth together with the original certificate and other documents is to be sent to the local registration office. In most cases the parties leave the duty of registration to be handled by the notary office. Then the buyer sends the amount as agreed in the contract and and according to the terms of the contract to the notary public bank account. ATTENTION!!! The full amount agreed in the contract should arrive at the notary bank account, so in case of international transfers you should take into consideration international bank transfer commissions. After the application for registration is completed, an invoice with eventual Valued Added Tax is issued by the registration office. The bank receipt of the payment of the VAT is sent to the registration office. Then the parties wait from two to four weeks for the procedures to be completed. After the Property Certificate on the buyers name is issued by the registration office, the notary transfers the amount paid for the property at the sellers bank account.
- In the case of a contract with contingency, the difference is that the certificate comes out under buyer’s name even though it has not been entirely paid, but it’s a blocked property until is paid the total amount and the notary applies for the removal of the block when the balance is transferred on notary’s account.
- Preliminary contract or the promise to buy. This type of contract is signed when the property is under construction or hasn’t yet obtained the certificate of ownership. When the property is registered then it is required to be signed the direct sale contract as described above.
Property in Albania by Albania Realtor Network.
Property in Albania for everyone’s taste and budget. Our network is offering properties for sale in Albania in coastal areas like Saranda and Vlora. How to choose the best area for your Property for sale in Albania? This is a frequent question for our clients. Our company is currently selling properties for sale in Albania. We work in the areas with the highest demand by foreign and local buyers. First, we listen carefully to what our clients are looking for. Which are their necessities, what’s the aim of buying their properties in Albania? Is it an investment, or a holiday apartment by the sea? Their favorite city?
Smaller but attractive
As a matter of fact, Saranda is smaller but always in high demand from buyers looking for property for sale in Albania.
This small town is full of history and natural beauty. Saranda was the first town to attract buyers interested in properties in Albania. Being so close to Corfu it is easily accessible from the Corfu Airport.
By comparison Vlora is probably the biggest town in southern Albania and one of the most important cities in Albanian history. Above all, priding more than 40 km of coastline, it also offers a big diversity of seaside traits.
Adriatic coast
Long sandy beaches in the North of the bay, typical of the Adriatic coast. Small picturesque pebble beach and crystal-clean waters in the south. Our database included properties for sale in Albania located in all areas. We make our best to satisfy our client’s expectations. We are making sure that they have seen everything that can fit their tastes and necessities. A very common question by our clients is: “Is buying property in Albania safe? Recently there have been many modifications and improvements to the Albanian property legislation. Thus making the process as safe, or more, than most EU countries.
Our agents will patiently explain every detail. And we will make the process easy to understand for everyone. For all potential buyers of properties for sale in Albania that choose our company. Investing where the market prices are going up is the easiest and most profitable way. It works even for investors with a little or no experience in the international real estate market.
Accessible due to infrastructure improvement
Further more, t is very easy to explain to our clients or to people that just show interest in our properties. The process of development of our country, the improvement of infrastructure. This made accessible the most beautiful and unique attractions in Albania. And as a consequence is pushing continuously up the value of the properties in those areas. There are strict rules applied by the Albanian government regarding the criteria of building and developing projects. So it is also pushing up the prices and making the process of owning a property in Albania safer.
Transformation and property value
The perfect example of infrastructure transformation that brings development and vertical increase of property value is the city of Vlore. Even though well known to Albanians all over the world, Vlora was almost unknown to international real estate investors. This situation changed rapidly after the investments of the Government of Albania with the support of the EU community. Investments were made not only in the coastal areas but also in the historical old city center. This was followed by important changes in the popular areas, bringing this area to the focus. Not only to the local and international real estate investors It brought higher demand from tourists for hotels and apartments.
Vlora Airport
Basically by decreasing the summer traffic by the Vlora new bypass is reducing sensibly the number of vehicles going south. This basically prevents them from entering the busy streets during the high season. There are new projects of the new port or the transformation of the actual one into a tourist port. To this was added to the most important investment for the area, like Vlora Airport. It will bring the ultimate transformation for the Vlora area, having a drastic impact on real estate development. The Albanian riviera. is one of the most attractive areas of the Albanian territory.. It is so beautiful and wild and always in high demand among holidaymakers from Albania and foreigners.
Property in Albania. Albanian riviera
lbanian rivieraAs a matter of fact he Albanian riviera has been from many years on the focus of the investments of the Albanian governments.. Recently things have changed drastically. Areas like Palasa, Dhërmi, Jala, Himara and Qeparo are now in the focus of investors. Not only in tourism but also in developing real estate. A huge number of hotels and tourist resorts are being built Along the deep blue south Albania riviera.
Huge investments from local companies which are leading the building industry and now are moving toward tourism, mostly elite tourism. All these new projects stretching from below the pass of Llogara to Saranda have made the area extremely attractive. It is for the tourist but also small and medium International investors. They now see realized projects of the development of the area come true.
Investments bring higher demand
Obviously, now that the Vlora Airport will be built together with the Llogara tunnel will make the area easier to access. After landing in Vlora airport in 30-40 minutes you can be at your favorite location on the Albanian Riviera. After landing in Vlora and not in Tirana, you already saved a couple of hours’ drive. Then you avoid the city traffic by driving through the Vlora bypass. So you save yourself a good hour going up and down the mountain. ( Of course if you don’t want to visit the impressive Llogara national park). In the end, you have saved yourself 4-6 hours which in the past were obligatory. No choice if you wanted to access the Albanian Riviera.
Property in Albania. Investments to come
Additionally another way to access the riviera is through the new road across the Vlora river valley. This is a valley of impressive beauty. Evidently at the moment this is the fastest way to access south Albania riviera villages. A good alternative to the road to Gjirokastër or along the Llogara pass. Although this huge but Indispensable investment took many years to be completed:. Despite it has been going through thousand difficulties. But in the end, it was worth it. Even though It had an impressive impact on the areas affected by the improvement. Above all t brought in all economic in addition to sectors such as transport, tourism, real estate, property value increase, commerce. etc