The Albanian coast most coveted by oligarchs for investment, here's what the experts say

2024-04-12 19:48:42 / EKONOMI&SOCIALE ALFA PRESS

The Albanian coast most coveted by oligarchs for investment, here's what
The Albanian coast is quite coveted by foreigners. The requirements to own a property or to invest in Albania have increased in recent years. This has led to an increase in the price of apartments throughout our coast.

" But from year to year we are somewhere between 50-60% growth in the elite areas, Pala, Dhërmi, Jalë and Gjiri i Lalzi. The elite areas are the new projects like in Durrës or Vlora" , says Elis Kishta, real estate agent.

In addition to Albanians, according to the data, 35% are non-resident foreign buyers in Albania, mainly Italians, Macedonians, Turks. In recent years, villas, as well as apartments in residences, are being preferred. The value of the properties exceeds hundreds of thousands of euros, a very high figure for an Albanian citizen.

" 2023 was the year that the presence of foreigners was felt in the purchase of properties... There was a price variation from 200 thousand euros to 700-800 thousand euros, but in the real estate market there are also cases with greater values ", says Kishta .

Some of them are investors, who see Albania as a country with potential that offers affordable property prices compared to other countries in the region.

According to a research conducted in sales agencies in countries such as Croatia, Greece or Montenegro, an apartment on the first line is sold for no less than 250 thousand euros, while for villas the figures reach over 1 million euros.

" The price of properties in Albania is the lowest in the region, considering similar properties in Montenegro, Croatia, Greece, we are somewhere around 50% cheaper...A property in Budva is worth twice as much as a property in Dhërmi" , says the agent. real estate.

There is demand for purchase from Albanian immigrants as well as investors, who buy these properties to resell them in the future or to let them for daily rent.