In recent years, the number of tourists wishing to visit Albania is constantly growing. So, in 2004, the country was visited by 350,000 guests, and in 2010-3,500,000 tourists. Thanks to tourists, foreign investors began to be interested in Albanian real estate.

Coast and praces

The greatest interest among foreign buyers cause objects that are on the coast. The second place in popularity is occupied by real estate in Tirana, as well as sites that stretch along the Tirana-Durres motorway and commercial properties. In recent years, objects that have historical value and are included in the UNESCO list are very popular. For example, houses and apartments in Berat, Gyroskart, as well as in the southern villages on the coast of the Ionian Sea – Dhermi, Palace, and Chaparro.

As for property prices in Albania, they remain the lowest among all Mediterranean countries. The average cost of the apartment “turnkey” will be from € 650 to 800 per square meter. The cost of apartments on the second line ranges from € 450 to 650 per square meter. Real estate properties located on the shores of Lake Ohrid can be purchased for € 450-700 per square meter. The area of apartments mainly ranges from 42 to 120 square meters, and the apartments on the beach have large verandas.

Sale of residential real estate in Albania consists of several stages:

• The conclusion of a contract for the provision of services with the agency, in which the obligations of the buyer and the realtor should be specified.
• If the object is at the construction stage, then the seller and the buyer must enter into a preliminary contract of sale in Albanian and Russian.
• After the contract, the buyer must transfer the seller a down payment of 10-50% of the value of the property.
• Provided that the housing is ready for sale, the parties may conclude a contract of sale, also in Russian and Albanian.

If the value of real estate in Albania is € 25.000-80.000, the commission of realtors for services is 4% of the price of the object. According to the laws of Albania, foreigners have the right to buy property in the country under the same conditions as the local population. In order for a buyer from Russia to conclude a deal, you will only need a passport.