General
A mountainous country with a beautiful, undeveloped coastline on the Adriatic and Ionian Sea. Great changes take place by dramatic improvements by the government. An attractive investment climate and opportunities for foreign companies are the result. Because of these facts, the planned EU accession in 2014 is well within reach
Political
Albania is a political democracy under Prime Minister Sali Berisha, a full member of NATO and is considered a key Western ally. For foreigners, there are no restrictions to acquire or possess property in Albania. Lands are now returned to the people and the Lalzit Bay Resort-plot was owned by a large family for many generations . This fact prevents that future debates arise over land rights. For your security, there is due diligence conducted by a leading Albanian law firm where all documents and details in regards to this issue can be found.
Economics
Albania has a GNP of $ 12 billion per year (World Bank 2008). The official currency is the Lek, but Euros are widely accepted. 10% tax is levied on returns, there is no VAT and no fees for real estate. Despite the great foreign investment climate in this emerging market, Albania is still a poor country. However, it is clearly towards more prosperity.
Social and cultural
Albania has a population of 1.5million and a further 3 million Albanians are living abroad, mostly to work. Tourism is an important factor in the development of Albania. It is on schedule with 5% growth per year until 2019 (according to the World Travel and Tourism Council).
Owning a second home is popular among Albanians. There are no official statistics but many middle class Albanians own a small property on the coast. With increasing prosperity, the demand for high quality housing will increase further.
Technology / Infrastructure
A new international airport has been build recently by Siemens in Tirana – the Rinas Mother Theresa airport. Also recently finished is a 550 million dollar highway built by U.S. construction company “Bechtel”. These major improvements will contribute to a further improvement of major trade and transport routes in the region. In addition, with help from the EU and the World Bank, heavily investments are being done in hospitals, schools, airports, roads and railways.
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