Industrie
Tourism in Albania
The fastest-growing part of the economy, concentrated on the southern coast and in a short summer season.
- Main markets
- Tirana; Sarandë, Ksamil, Vlorë, Durrës, Lalzit Bay
- Registry
- State Cadastre Agency
- Documented risk
- Money-laundering exposure in construction and real estate
In einfachen Worten
Property in Albania has become much more expensive in Tirana and on the coast over the last decade. A lot of building is going on. Who legally owns what is sometimes complicated because of what happened after communism ended.
Einfache Erklärung
Property in Albania has become much more expensive in Tirana and on the coast over the last decade. A lot of building is going on. Who legally owns what is sometimes complicated because of what happened after communism ended.
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Two markets
Tirana is a domestic market driven by urbanisation, diaspora purchases and a large construction pipeline. The coast is a holiday and investment market, concentrated in Sarandë, Ksamil, Vlorë, Durrës and Lalzit Bay, and heavily dependent on tourism demand and off-plan sales.
The title problem
Between 1945 and 1991 private property was abolished. After 1991 the state restituted and privatised on a very large scale, in parallel with mass internal migration and a great deal of unpermitted construction that was later legalised. The result is a register that is still being reconciled.
For a buyer this is not an abstraction. Overlapping claims, unregistered inheritances and buildings whose legalisation is incomplete are ordinary findings in a title search.
Scrutiny of the sector
Construction and real estate in Albania have been repeatedly identified by MONEYVAL, the European Commission and domestic institutions as sectors carrying money-laundering risk. This is a matter of public record and it is one reason due diligence on a counterparty matters as much as due diligence on a title.
Verwandte Themen
Verwandte Themen
Industrie
Construction and Real Estate
One of the largest contributors to growth, and the sector most exposed to tourism demand.
Leitfaden
Buying Property in Albania
Foreign buyers may generally purchase built property — the risk is not the rule, it is the title.
Leitfaden
Renting in Albania
Cheap by European standards, largely informal, and priced in euros in the places foreigners want.
Strand · Vlorë
Kakome Bay
A deep, clear bay north of Sarandë, long the subject of a contested development.
Strand · Durrës
Lalzit Bay
A pine-backed sand bay north of Durrës that has become Albania's main resort-property zone.
Quellen
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