We have launched for sale fantastic 1st phase apartments in “Kashar View Apartments Tirana”.
1 BEDS FROM €22,071 (£17,520) – 2 BEDS €34,839 (approx £27,650)!
This property offers the lowest priced, best value apartments in a European Capital City. They are being constructed by a highly reputable developer with a history of constructing excellent developments all across Tirana.
Tirana, being the capital of Albania, is currently experiencing a commercial and economic boom. The city is receiving large amounts of investment going into roads, telecommunications and internet, commercial and retail construction, and now real estate and residential construction.
So what’s so special about Tirana really? What will make the prices continue to grow?
TIRANA INTERNATIONAL AIPORT
With an upgraded and fantastic international airport, traffic to Tirana is increasing. The airport saw 785,000 passengers in 2005, and 1,107,325 by 2007, which is an increase of 41% in just 2 years! A huge influence to this is British Airways flying from London Gatwick since 2006, and demand for this service is growing.
OLD HOUSING STOCK – NEW PROPERTY PLEASE!
Most Albanians live in apartments and a smaller number live in villas (detached houses). The current housing stock was not well constructed, and most of the developments do not have elevators, and are not well maintained. There is a big demand to move into nice, new apartments with balconies, elevators and car parking spaces!
GROWING POPULATION
In 1990 around the end of communism, the population of Tirana was around 300,000. Now in 2007 the population is around 700,000 and still growing!
A lot of Albanians abroad, who have been working or studying, are now returning to Tirana because of the growing economic and employment prospects.
AFFORDABLE PROPERTY
Tirana is the cheapest capital city remaining in Eastern Europe and Balkans. The only way is up!
EDUCATION
Tirana is the educational hub of Albania with 8 major universities including University of New York Tirana and the biggest – University of Tirana. The number of students attending this university is over 14,000 and the number of teachers is over 600.
EMERGING MIDDLE CLASS
The middle class in Tirana has a growing spending budget due to the current prosperity. A great deal of wealth is sent back to Albania from the Albanians living overseas. Another force is the availability of personal and mortgage financing.
From the First Albania UK investment Forum it was clear the banking industry is only just starting to look at Tirana and the possibilities there. Some of the banks from the forum included Raiffeisen Bank, Deutsche Bank, Citigroup, HSBC, ING Bank and Piraeus Bank.
Now buying a property is more within reach. Mortgage financing and up to100% loans for locals, even during this current recession and credit crisis, shows the belief the banks have that the property market here can only go up.
The Development:
Kashar View Apartments will be located in an excellent position in Tirana, only 10 – 15 minutes drive from the centre of Tirana. Currently the Kashar area is undergoing a transformation from an industrial zone, to a residential and commercial zone.
The western side of Tirana, the corridor linking Tirana and Durres will only continue to expand as the roads are improved, including the new ring road, and more and more businesses move in. Especially into the new shopping centres springing up.
The apartments sizes available start from 52.55sqm 1 bed for €22,071 (approx £17,520) and from 82.95sqm 2 beds for €34,839 (approx £27,650).
With completion 18 – 24 months away, there is plenty of room for capital growth during construction.
LINK: Kashar View Apartments Development
To find out more about Kashar View Apartments please request the brochure from us:
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Also, just announced, the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) will be funding a project for the Rehabilitation and Reconstruction of Quays 7 & 8, costing approx EUR40 Million.