May 2008

We knew the market for Albania was starting last year, as the economic and political conditions looked right.  Now, many more agents and developers know it too.

Now that Bulgaria, Romania and Montenegro have “peaked” in their property prices for now, there is a new flood of interest in Albania.  Everybody suddenly wants a piece of the action, and to take advantage of the next “hotspot”.  And the more time I spend in Albania, I can see why.

There are 2 separate markets in Albania from a Buy-to-Let Investor’s point of view:

1. Long Term Tenant Market
2. Tourist/ Short Term/ Holiday-Let Market

so which is better for investors?

TIRANA

Long Term Lets - The capital of Albania and the biggest buy-to-let market in the country.  Rents vary alot across the city, depending on location and the age of the property, as new builds are in higher demand than older existing property.

One Bed Apartments to rent long term in the city, start from approx EUR150/month.  In the centre, older apartments rent from EUR250/month, and more modern, nicely decorated apartments start from EUR350/month.

Short Term Lets – The holiday let market in Tirana for apartments is very new.  Only new and/or modern apartments in excellent locations are suitable for this type of let.  Rents for One Beds start from EUR30/night.

DURRES

Long Term Lets – Albania’s second city (and ex-capital) is the next highest in terms of long term rental demand.  This is due to the proximity to Tirana (35 mins drive) and the International Airport, and having the largest port in Albania which is about to be upgraded.  The port receives very high traffic from Italy.

Also the beach in Durres is a huge attraction.  One Bed Apartments in Durres rent from EUR150/month.

Short Term Lets – This coastal city becomes packed to the limit during the popular 3 summer months – June, July and August.  Proximity to the centre, the port and the beach will affect returns.  One Beds rents from EUR25/night or EUR500 for 15 days.

VLORA

Long Term Lets – A booming economic centre, a port with direct links to Italty and Corfu and an expanding university is driving rental demand in Vlora.  Prices have increased at least 20% over the past 12 months for property prices.

One Bed Apartments rent from EUR170/month.

Short Term Lets – The population of Vlora triples in summer and nightly rates are similar to Durres.  One Bed Apartments rent from EUR25/night or EUR500 for 15 days.

SARANDA

Long Term Lets – This coastal resort town opposite Corfu, is fairly new to demand for long term lets.  Still, growing tourism and tourism business, also a local college (branch of Tirana University) is influencing an increase on long term rental demand.

One beds rent from EUR120/month, depending on distance from port and town centre.

Short Term Lets – Saranda’s population quadruples in the summer and accommodation near the centre or beach can be difficult to find.  One Bed Apartments can rent from EUR30/night or 500EUR for 15 days.

In Summary

Although we believe Albania is primarily for capital growth at the moment, it is clear the rental yields, in this early stage of the market, still offer excellent potential.

With such low prices of property at the moment, yields from 6% and higher are certainly possible.

From our offices in Albania, we can offer a full service with special rates for our clients.

To view our current property in Tirana, Durres, Vlora and Saranda, please click here.

Albania Property, Albania property for sale in Tirana, Albania property for sale in Saranda, Albania property for sale in Vlora, Albania property for sale in Durres, Albania apartments for sale, Albania apartments for sale Tirana, Albania Property, Albania Investment Property Guide FreshPropertyCo.com

May 08

Fresh Property Co were in Saranda for the launch of the summer season in the first weekend in May.

Every year, they have one day to celebrate and open the beginning of the summer season.  It starts very early in the morning with streamers, balloons and street stalls offering handy crafts and traditional Saranda or Albanian food.

The have games for children, as residents of Saranda and the surrounding villages pour onto the promenade.

Then the major of Saranda introduces the season, followed by Prime Minister Berisha, who gave a very enthusiastic speach on the future of Saranda.

Next is a procession of local school children and cultural groups in traditional costumes, and then the singers and musicians come onto the stage to perform.

It is a very happy and exciting time, and the population of Saranda will start to increase now into the summer season, as boats become more frequent from Corfu and Italy, and masses of buses arrive from Tirana, Vlora and Athens.

As the reputation of Saranda spreads, and the affordability of holidaying there, demand for accommodation and owning a holiday home there will only increase.

Fresh Property Co are excited to be in Saranda at this time.  To view our current Saranda developments click here.

Albania Property, Albania property for sale in Tirana, Albania property for sale in Saranda, Albania property for sale in Vlora, Albania property for sale in Durres, Albania apartments for sale, Albania apartments for sale Tirana, Albania Property, Albania Investment Property Guide FreshPropertyCo.com

May 2008

Fresh Property Co was excited to witness the arrival of Easy Cruise into Saranda Port.  The cruise ship arrived mid-morning, and stayed for one night, before leaving around mid-morning the next day.

The arrival of cruise ships in Saranda, will only spread the reputation of what a beautiful coastal resort, this small Albanian town is.

Only this year,  Easy Cruise (from the same company as Easy Jet) has started stopping in Saranda as part of their Northern Greek Islands Cruise itinery.  The sailing season starts in April and runs until September, which is also the warmest and busiest time in Albania.

A journalist from The Independent was on the previous visit to Saranda last month -the maiden vogage.

 To view Fresh Property Co’s Saranda Properties click here.

Albania Property, Albania property for sale in Tirana, Albania property for sale in Saranda, Albania property for sale in Vlora, Albania property for sale in Durres, Albania apartments for sale, Albania apartments for sale Tirana, Albania Property, Albania Investment Property Guide FreshPropertyCo.com

May 2008

Fresh Property Co were excited to attend the First UK Albania Investment Forum in Central London on the 7th of May, 2008.

The main topics discussed at the Forum were:

• finance and the banking system
• economy, energy and mining
• transport and communications
• tourism and business services

Mainly discussed throughout the day was Albania’s rapidly improving economy, and delegates from many banks attended including Raiffeisen Bank, Deutsche Bank, Citigroup, HSBC, ING Bank and Piraeus Bank.

Other delegates included representatives from the Albanian Chamber of Commerce, Albinvest, British Airways,BBC and various Embassies including Romania and Greece.

The day was an overwhelming success, and it seemed that everyone there was confident in the growth and sustainable emerging economy of Albania.

Fresh Property Co is very happy to be one of the first London-based companies bringing property investments in Albania to investors around the world.

To see our latest developments please click here.

Albania Property, Albania property for sale in Tirana, Albania property for sale in Saranda, Albania property for sale in Vlora, Albania property for sale in Durres, Albania apartments for sale, Albania apartments for sale Tirana, Albania Property, Albania Investment Property Guide FreshPropertyCo.com