Perguntas e Respostas
Qual seria uma propriedade me custou e quão grande são eles?
Escritórios
Nos desenvolvimentos de escritório principais dos últimos quinze anos, os prédios de escritórios foram primeiro a Sky Tower de 8,000 sqm (2005), as Torres Gêmeas 11,800 sq m (2005), o Centro Europeu de Comércio de cerca de 9,000 sqm (2006), o centro de G-KAM 4,500 sqm metros quadrados08) e o Centro de aproximadamente Hekla 3,000 sq m m²9). Durante 2012, no new supply was added to the total office stock, which has been registered at 63,400 sq m since the first half of 2009 after the entrance of the ABA Business Center into Tirana’s Real estate market. Currently, the Grade A inventory comprises the largest proportion of office space with 34,300 sq m against 13,000 sq m of grade B+. 16,100 sq m Grade an office buildings in Tirana include Sky Tower, Twin Towers, the European Trade Center (ETC) and ABA Business Center. Nearly 80% of the business towers are located in the Central Business District. The remaining office stock is spread across the broad center and central Tirana.
Projects currently under construction are expected to increase the office stock by a further 238,700 sq m in the next 2-3 anos, where Archea Tower is planned to be approximately 12,000 m², American BC nearly 3,000 sqm, Mmetros quadradosennium BC 8,700 sqm, TID Tower 15,000 sq m and Tirana Business Park 200,000 sqm.
Residencial
In the first half of 2012 there are issued almost no construction licenses in Tirana because of the municipality new reforms. There are many reasons why the supply has slowed down. Factors that contribute to this slow down are the lack of construction licenses, economic crisis in the neighbor countries from which Albania has the most remittances, slow development on completing the constructions by the builders and tougher financing regulations from banks and financial institutions.
Residential property prices in Albania have not seen any changes in the past 2 anos. The prices in Albania are quoted in €. New high-end residential developments maintain the highest asking prices of €1,100 – 2,000 per sqm and are located on the best areas. In the mid-market the prices range from €500-700 per sqm. The prices have been under pressure to go down and we have observed a decrease in prices in areas that have slow sale rates. But in the luxury areas there are still high prices and pressure from the buyers to lower it.
Land Market
The land market in Albania has increased throughout the years due to the buyer’s interest in bigger areas, mainly for construction of tourist complexes. The agro land asking price vary from €15- 200 por metro quadrado, dependendo da posição, também em relação às principais vias.
A terra industrial perguntando os preços variam de € 30- 250 per sqm depending on the position, também em relação às principais vias. A terra enredo perguntando os preços variam de por metro quadrado, dependendo da posiçãoon the position, também em relação às estradas principais e para a cidade. Os preços mais elevados são observados no litoral proximidade e do lado de estradas nacionais.
Como resultado da falta de estudos urbanos e indiferença às construções ilegais, houve um aumento artificial dos preços dos terrenos nas áreas turísticas do país. With the performing and approval of urban plans in Albania, significant differences in terms of land value within these areas are expected.
Do apartments come furnished?
It would be very unusual to find apartments being sold with furnishing. Considering that competition is becoming stronger and stronger developers are more willing to offer furniture, higher quality works, and therefore accept lower margins. This is a positive sign, and we are witnessing more reasonable pricing and developers thinking of offering more than just accommodation.
Furniture packages are available through Albanian Property Management and will cost from about 3,500 Euro, depending on grade and amount of bedrooms.
After-sale services include
• Pacotes Móveis
• Gestão de Propriedade
• Propriedade Rental Serviços
Air conditioning costs from 320 Euro per unit but it is sometimes included in the developer’s price. Contudo, do expect the following to be included in your apartment: plumbing, electrics, sanitary ware / bathroom tiling, sockets, doors, double-glazing.
How much is the Reservation/Agency fee?
The Reservation/Agency fee is 2,000 Euro for apartments and Land fees 6 % on a sliding scale downwards. This fee is payable immediately on return of the reservation form. On receipt of this money and form, there is usually a cooling off period of 15 dia, in case the buyer, should wish to not proceed with the purchase. On receiving of this fee Albanian Property Management communicates with developing company and takes the apartment out of the market. With the next step client can start the legal proceedings in order to finalize the undertaking contract.
What do I get for my agency fee?
We work on a set reservation fee as oppose to a percentage as we feel it penalizes the higher spender. The fee is small in comparison with other countries.
• Airport transfers arrangements from Tirana to any destination in Albania through our sister company Albania Taxi
• Accommodation Arrangement
• Market overview
• Property Tour
• Legal advice
• Assistance with arranging finance/opening a bank account
• Power of Attorney option and we can finish the paperwork for you once you leave.
• Discuss After Sale Services through our agency such as: Property & Rental Management, Furniture Packages.
What are the payment terms?
Generally you would pay between 20%-30% of your total purchase after the pre-contracts have been signed by you and your POA. The percentage varies depending on how far the construction is towards completion. Then we try to put other payments in relation with the stages of construction. Therefore payments might follow with another 30% on completion of concrete shell of the residence, 15%-20% on completion of installations, 10%-20% on delivery of the apartment and 10% with registration and receiving of the title deed.
The final payment which is paid upon registration of the property takes time in general. It comes after completion but what is more important clients can furnish and live in the property before they receive the deeds. Nevertheless the new law which has come into force in 2012 aims to shorten the period of time between completion and the registration of individual property.
How can I instruct a lawyer?
You would expect to pay from 600-2000 Euro plus expenses for a quality English speaking lawyer in Albania. O preço é determinado com base no número de unidades de comprar. Na sequência da nossa diligência inicial devido com um advogado, em verificar a papelada etc, seu advogado seria o seu contato através do procedimento de adjudicação do contrato inicial até o primeiro pagamento. Eles também poderiam estar na mão para lembrá-lo quando outros pagamentos são devidos e para empurrar para a segurança de seus atos título após a conclusão do projeto. At Albanian Property Management we will be using our own in house lawyer to verify papers before passing onto the lawyers for final checking and stamps.
What is the process after the initial reservation fee is paid?
• Appoint a lawyer;
• Await POA certificate to be sent via email;
• Sign certificate in front of notary in your own country & have the POA apostilled,
• Return POA certificate to your lawyer in Albania;
• Receive by email draft of undertaking-contract;
• Liaise with lawyer for any issues or clarifications & agree on the draft;
• Await pre-contract signed by lawyer and developer;
• Transfer first installment into the developer bank account, based on with details supplied by your lawyer. Other installments will follow during the construction period.
Can I buy as an individual or company?
The tax benefits are better to buy as an individual for residential property, however a local company would be needed should you be venturing in securing land. With the latest improvements in the procedure of registering a company in Albania you can register a new company within 24 hours.
What other costs do I need to be aware of?
There is no VAT on your purchase and no transfer tax. Most countries around the world will charge a percentage of the purchase price, when buying a property in their country. This figure can vary from the 2% to 15% in those countries. This is not the case in Albania.
Should you decide to sell the property, there is a Selling Tax (similar to capital gains tax) de 10% payable in Albania, on the difference between purchase and sale. There is also a flat income tax of 10% on the rental income, should you rent your property out. Starting on January 2008 corporate tax was also reduced to a flat 10%, as is income tax. With all this in mind, your only extra fees in purchase will be real-estate agents and lawyers. For total tax and financial advice, Albania Property Group can recommend certified accountants to help you through any questions you may have in this respect
Is there a need for car parking?
Parking is a problem in Tirana and the coastal towns. Our advice at Albanian Property Management would be to purchase if you can afford it. It will be money well spent as an investment and will be an important commodity when selling or renting. Prices will vary from 12,000 to 25,000 Euro in capital city Tirana; 10,000- 15,000 Euro in Durres and Vlora; e 7,000- 10,000 Euro in Saranda.
What is the rental market like?
Albania has not been in the world tourist map before. However it has been moving up the league table gradually over the last 4 years and is accelerating fast. A 20% increase of the number of visitors over the last three years, through the international airport in Tirana, proves this. Albanian Property Management has always said that this is the beginning stage for the ones wanting to go for rental income. Anyhow, it is important to understand that on the coast the rental market is not great yet, but it is growing.
One would expect to receive a maximum of 6% rental income yield in the high summer months from best properties in the coastal cities. At same time rental income in central Tirana can surely go higher than what you could make in coastal cities. Big tour operators have low presence in the country for the time being, but the situation is changing gradually. Foreign operators have started cooperating with Albanian travel & tour companies. Once they are in, on a larger scale, em seguida, agentes de viagens e programas de férias vai cantar louvores a este país deslumbrante e do mercado de arrendamento vai atirar-se de acordo. Com ferries funcionando diariamente das Corfu e Itália e as principais estradas ligando todas as partes do país com seus vizinhos, já terminou - O turismo está se tornando um negócio muito interessante e lucrativo.
Aproximadamente quanto são acusações comuns?
Espere pagar cerca de 150-200 De euros por ano para a manutenção nas residências sem piscina. Então a água, eletricidade, is paid based on consumption and an average monthly bill could go approx 50 Euro, ou 600 Euro per year if the apartment is used during 12 months.
Do you organize Property Tours?
Property Tours: Many of our clients have never been to Albania and want to visit to get a feel for the country, the coastline, cities, its topography, and the various areas for potential investment. We welcome you and highly recommend that you come to the country and take one of our “Albanian Property Management Tours”. We are the most experienced in rentals and management in the Albanian market and now we have 3 offices in Albania – Tirana, Saranda and Vlora.
The property tour is a “rolling mini-seminar” through most key areas of the country – from Tirana, Durres and then down south to Vlora, Dhermi, Palase, Himara and Saranda. Our professional people have deep knowledge about property issues, property management, despesas de manutenção, e outras questões relevantes especificamente a possuir a propriedade de investimento. Acreditamos na educação de nossos clientes, não aplicar táticas de vendas de alta pressão.
