Tag: <span>real estate Albania</span>

Home real estate Albania
Real Property Revaluation Deadline Extended to 2021
Post

Real Property Revaluation Deadline Extended to 2021

TIRANA, December 14 Albanian authorities extended again the deadline for the revaluation of properties for taxation purposes. The new deadline has been postponed to September 2021. Given the COVID-19 situation, the number of applications for revaluation was trivial. Meanwhile, the recent decision will make it possible for more property owners to make a fair assessment...

How the Pandemic Impacted Real-Estate in Albania
Post

How the Pandemic Impacted Real-Estate in Albania

TIRANA, October 21 With a global health crisis wreaking havoc on industries, economic sectors, and personal finances, the Bank of Albania took the temperature of the Albanian real-estate market to define if and to what extent the pandemic has sickened it. The findings give insights on the performance of construction companies and realtors, and the...

€1.6 billion Laundered in Real-Estate in Albania during 2017-2019
Post

€1.6 billion Laundered in Real-Estate in Albania during 2017-2019

TIRANA, August 28 The laundering of illicit money through real-estate and construction in Albania was estimated at Euro 1.6 billion during 2017-2019, the recent report on Illicit Financial Flows in Albania, Kosovo, and North Macedonia, by Global Initiative confirms. According to the report, which follows a model provided by the United Nations on Financing Development,...

Could New Law Spell End for Shell Companies in Albania?
Post

Could New Law Spell End for Shell Companies in Albania?

TIRANA, August 14 The latest Basel AML Index hit the headlines on Friday because it ranked Albania second among the European major money laundering destinations. Meanwhile, the country ranked 44th in the global ranking with a risk score of 5.69. While each country has different risks, Albania performed poorly for the quality of anti-money laundering...

New Bill to Tackle Money Laundering in Real Estate Transactions
Post

New Bill to Tackle Money Laundering in Real Estate Transactions

TIRANA, July 16 Real estate is considered one of the most fertile sectors for money laundering in Albania. Not only it provides an opportunity for laundering illicit funds, but also has a huge impact on the real estate market. Hence, Albanian authorities are consulting a new bill on the regulation of real estate brokerage. The...

Property Revaluation Deadline Extended due to COVID-19
Post

Property Revaluation Deadline Extended due to COVID-19

TIRANA, July 9 Albanian authorities have extended the deadline for the revaluation of properties for taxation purposes to December 31st. Based on the new draft law, all the citizens, physical and legal persons, who own a real-property in Albania are granted the right to evaluate it until the end of the year by paying a...

Real Estate Prices Up by 13.8% in Second Half of 2019
Post

Real Estate Prices Up by 13.8% in Second Half of 2019

TIRANA, April 16 The real estate market in Albania seems to be offering properties at ridiculously high prices compared to customer buying power. The recent Report on Financial Stability published by the Bank of Albania (BoA) confirms that y-o-y house prices (calculated according to the Fischer Index) during the second half of 2019 increased by...

House Construction Costs Down in Q4 While Prices Up
Post

House Construction Costs Down in Q4 While Prices Up

TIRANA, March 4 Rising construction prices mean rising house prices. Although official data from the Institute of Statistics confirm a decline in the house construction index, prices in the housing market continue rising. According to INSTAT, the house construction index reached a rate of 104.1 during the fourth quarter (Q4) of 2019, down to 0/1...

How to Get Albanian Residence Permit through Real Estate Purchase
Post

How to Get Albanian Residence Permit through Real Estate Purchase

TIRANA, February 19 Numerous international citizens ask if it’s true that they can obtain an Albanian residence permit through real property purchase. The answer is yes. First, Albania provides international citizens the right to invest in real estate of any value, with some exceptions on land acquisition. (Read at the end of the page what...

House Prices Rise but at Slower Pace in Jan-Jun 2019
Post

House Prices Rise but at Slower Pace in Jan-Jun 2019

TIRANA, October 10 House prices in Albania grew by 1.8 percent during the first half of 2019 according to the Bank of Albania (BoA). The finding was based on a report conducted by BoA with over 300 real estate agencies throughout Albania. The data show that house prices growth rate slowed a tad in 2019....