- No restrictions are applied to foreigners who own or intend on owning property in Albania. The only limitations related to property are made when the environment, cultural heritage or land intended for military use are at risk. So, nothing to worry about 🙂
- Before negotiating for the contract, you’re advised to review the property documents thoroughly with a trusted lawyer or financial/real estate agent.
- You should also always make sure that you have copies of all contracts in English, which we’ll gladly provide, in print and in an online form.
- Some two to three weeks after your reservation, you should receive the pre-sales contract, which is when the initial deposit is paid. This contract will set out the terms of the agreement, the schedule of building for off-plan purchases, and the date of completion.
- Upon completion, the final transfer of deeds is carried out. You do not necessarily have to be present at this part of the deal if you are happy to sign over power of attorney to your legal representative.
Buying in Albania
Albania lies between Greece to the south and Montenegro to the north – and only 72km from Italy, where the Strait of Otranto squeezes the Adriatic to its narrowest point. Throw in the fact that it has 476km of coastline, and you’re left wondering why this Mediterranean pearl isn’t more widely recognized. The main reason is attributed to Albania being one of the last countries to finally break free from the communist regimen. The time it was under dictatorship left the country isolated, already a few steps behind the bordering countries. Under “recovery” Albania is now quickly becoming one of the main Balkan tourist attractions, offering accursed mountains, the beautiful Riviera, history, chic cafes, old-world hospitality, great food and an overall vivid country. San Pietro Resort is located in Lalzi’s Bay, considered part of Durrës city, that was founded as Epidamnos by Greek colonists in 627 BC – a significant city, the start of Via Egnatia, where one of the ancient gates to this crucial route across the Balkans still stands, as part of the door to a lovely wine bar. But how is the buying process in Albania? Is it a hassle, filled with bureaucracies or a smooth, as-enjoyable-as-real-estate-can-be process? It’s our priority at Concord Investment to make sure buying property is an extremely transparent procedure.