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Construction in 2019, Fewer Permits more Floor Area
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Construction in 2019, Fewer Permits more Floor Area

  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...

Albania Property Revaluation, How Will it Affect Your Taxes?
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Albania Property Revaluation, How Will it Affect Your Taxes?

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,...

Albania to Lure Foreign Pensioners with New Tax Regime
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Albania to Lure Foreign Pensioners with New Tax Regime

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...

No Tax Implications on Real Estate Transfer to Family Members
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No Tax Implications on Real Estate Transfer to Family Members

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...

Floor Area for Building Permits in 2016-2018 Exceeded 1.4 million m²
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Floor Area for Building Permits in 2016-2018 Exceeded 1.4 million m²

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...

Coastal and Tirana Properties Are Getting Harder to Sell
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Coastal and Tirana Properties Are Getting Harder to Sell

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...

Foreigners Buying more Homes in the Albanian Coastline
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Foreigners Buying more Homes in the Albanian Coastline

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...