WHY IS ALBANIA BECOMING SO POPULAR?
Albania lies on the coasts of the Adriatic and Ionian Seas. Bordered by Montenegro and Kosovo to the north, Macedonia to the east, and Greece to the south, Albania proudly boasts stunning natural beauty - from forested mountains to golden beaches with crystal clear turquoise waters. Thanks to its rich history, this country is home to various UNESCO-protected sites, old towns, and castles such as Butrint, Gjirokaster, and Berat that are worth a visit. The combination of its beautiful nature, heritage, and Mediterranean climate makes Albania one of the most popular travel destinations and a prime place for investment.
Albania, known centuries ago as Illyria, is a developing country. From the second century until the introduction of Islam by the Ottoman Turks it was a Christian nation; however, it was briefly ruled by a communist government in the 20th century, and in 1967, under dictator Enver Hoxha, it became the world's first atheist state. Nowadays people do not identify more with one national religion than with another. It is common to find a church near a mosque. Now, after around 50 years of totalitarian rule, Albania is prospering and breaking away from the politics of isolation. Albania has been an EU accession candidate since 2014.
IS IT SAFE IN SARANDA?
HOW TO GET AROUND SARANDA?
Floor heating and radiators are almost nowhere to be found, but floor heating can be installed in properties that are still under construction.
However, most households heat with an air conditioner.
Saranda is a relatively small city. There are shops and supermarkets located all over the city and it usually takes 50 meters to walk to get the groceries. Getting to the hospital, private hospitals, schools, and kindergarten take around 5 minutes by car from anywhere in the city. However, if you are staying or deciding to buy a property in the old part of Saranda called Kodrra, it will take you around 2 minutes by car to reach the hospital or school.
Purchasing a property is formalized under Albanian law. The whole process is very transparent and looks the same as in most European countries. After choosing the property and signing the contract with a notary, the buyer pays the agreed amount to the notary's account. This amount will only be transferred by the notary to the buyer after the notary has completed the legal formalities and receives a certificate of transfer of ownership to the new owner. Until the rights to the property are transferred to the new buyer, the money is secured in the notary's account. According to current law, the notary is responsible for the entire process of transferring ownership.
Real estate tax is levied annually by the municipalities on buildings and commercial land and agricultural land according to area/square meter/use.
For commercial space (not public space) the property tax is ALL 0.14-20(0.001-0.17€)/m2 depending on location/use.
For agricultural land, the tax is ALL 700-5600(6-48€)/hectare per year depending on the category determined by the Ministry of Agriculture.
For buildings, the following property tax rates are applied to the tax base:
- 0.05% for residential buildings
- 0.2% for buildings used for economic activities be used.
As a buyer, you have to pay the tax ONLY once you decide to sell the property.
According to the law in Albania, the keys are handed over to the new owner when the notary gives the buyer the complete documentation and transfers the entire agreed amount from the notary's account to the seller's account.
IN WHICH LANGUAGE CAN I HANDLE ALL ADMINISTRATIVE MATTERS?
The official language in Albania is Albanian. Since we have many foreign customers, we offer full support with translation into German, English, Italian, Ukrainian, and Polish. We are by your side throughout the entire process, from choosing a property to completing the purchase.
The costs for formalities such as a notary, translation of a notarial deed, or administrative fees are indicated right at the beginning of the contract preparation. It is crucial for us that each of our customers is aware of all the costs before they decide to buy. These costs are covered by the commission paid. We provide detailed information about the transaction costs every time so that they do not surprise the buyer.
HOW DO YOU CHOOSE THE BEST PROPERTY FOR YOU?
There are several options. You can use the website where you can find our current offers - there is a high probability that you will like one of them. Another option is to contact our team of specialists so we can discuss your must-haves and find the perfect property for you. Or you can come to Saranda and see everything with your own eyes. In each case, we are at your side with advice and action. Don't wait, send a message or call.
The currency in Albania is the Albanian Lek. In most shops, you can only pay in this currency. It's very different in bars and restaurants. There you can pay in both Lek and EUR. The current exchange rate is 1 EUR = 115 Lek. In Saranda, there are branches of international banks and many ATMs that can be used with Mastercard or Visa.
In addition to our core business, we also have departments responsible for car rental, organizing excursions, selling tickets for transport (ferry, hydrofoil), and accommodating holiday homes.
We are one of the most dynamically developing real estate companies in Albania. Our headquarters are located in the charming Saranda, the pearl in the crown of Albania.
Saranda Estates Shpk
Rruga Mitat Hoxha 61
9701 Sarande
Albania
© Saranda Estates 2024