TIRANA, September 30 Albania’s Gross Domestic Product (GDP) fell at a rate of 10.2 percent during the second quarter of 2020, the Institute of Statistics confirmed on Wednesday. The significant drop in outputs reflected the worst-hit period by the pandemic lockdown, travel restriction, and prevention measures to prevent the spared of the virus. Data from...
TIRANA, February 28 Residential buildings account for the major number of new permits issued in 2019 in Albania, while the number of permits for office buildings and industrial parks was zero. The number of construction permits issued during 2019 was 1,044 or 13 percent less compared to 2018, the Institute of Statistics confirmed on...
TIRANA, February 4 All the citizens, physical and legal persons, who own a real-property in Albania are granted the right to evaluate it until September by paying a reduced rate instead of the 15 percent on the real-property capital gain. The law no. 90/2019 ‘On revaluation of real property’ was published on the Official Gazette,...
TIRANA, January 27 Albanian authorities plan to adopt an amendment to the tax regime for foreign pensioners. The goal is to attract all those retired foreigners, who are eying for sunny places and friendlier tax regimes. According to Top Channel, the draft initiated by the office of the Minister of State for Diaspora was submitted...
TIRANA, December 16 Starting in 2020, any transfer of property to family members under a gift will not be considered as a taxable transfer. This amendment proposed by the ruling majority lawmaker Evis Kushi was adopted by the Parliamentary Committee of Finance and Economy, will enter into force when voted by the Parliament. The committee...
TIRANA, November Building permit activity in Albania increased by 48.4 percent over the period 2016-2018 with a total floor area of 1,442,783 square meters. The official data on the construction sector in the country were unveiled on Friday by the Institute of Statistics (INSTAT) on the regional statistical yearbook. According to the statistics on this...
TIRANA, October 14 Properties got harder to sell during 2019. The data was confirmed by a survey conducted by the Bank of Albania (BoA) with residential and commercial contractors and real estate brokers. According to the respondents in Tirana, the average time to sell a property in the capital city during the first half of...
TIRANA, 12 September Foreign direct investments (FDI) were up by 10% in the first 6 months of 2019, whilst the companies with foreign capital have expanded their activity in Albania. Official data by the Bank of Albania, show that between January-June 2019, the foreign companies invested over €535 million in the Albanian economy, from €484...
TIRANA, October 24 The coastal city of Saranda lures two types of international visitors, tourists and people looking for properties to buy or rent. Currently, Saranda is the most expensive city to buy a home in the Albanian coast and properties are at a premium. The factors that influence the price of homes and attract...
TIRANA, October 8 With 476 km of coastline from the Adriatic to the Ionian seas and more than 310 days of sunshine a year, Albania is luring foreign property buyers. Currently, they are considered to be the main participants that keep the housing market moving. Most of the buyers are from countries of the Balkan...
