Geography and nature:
Albania is the size of Belgium or the Danish peninsula Jutland and has its coastline on the Adriatic Sea and the Ionian sea. The country offers high mountains, rushing rivers, olive groves, fine beaches and good, inexpensive food and wine. Plus of course the local liquor made from grapes, the raki.
Albania is a parliamentary democracy, a member of NATO and is targeted towards the EU. Recently Albania has obtained EU candidate status.
The Prime Minister, who is also chairman of the moderate Socialist Party, is Edi Rama. Edi Rama, who is trained as artist/painter, was the former mayor of Albania's capital Tirana and has given this city a strong boost.
Albania came relatively unscathed through the financial crisis, despite its proximity to Greece.
The country still to some extent has an economy that can be described as a "reconstruction economy" as the communist regime drove the country into the ground. The following should be noted though:
- Investment in infrastructure is a priority.
- The banking system and the mobile networks are functioning well.
- The tourism industry is clearly growing.
- Albania is rich in raw materials.
- The fight against corruption has been intensified.
- The price level in Albania is relatively low. Compared to Denmark it is roughly 1-4.
The population is approximately 3.3 million. The Albanians are Catholics, Muslims and Greek Orthodox. Religion is like in Denmark considered as a private matter and there is no religious conflict in the country. Most young Albanians understand and speak English.
Albania has for thousands of years been influenced by Greek, Roman, Byzantine, Turkish and European culture. Despite the foreign influence Albanians have however retained their own language and distinctive traditions.
Albanian / Illyrian history goes at least 3,000 years back. Albanians have always been oriented towards the West while Western Europe has often regarded Albania as the stepping stone to the Middle East. This means that the Albanians have had many "visits", e.g. from Greeks, Romans, Normans, Venetians, Serbs, Ottomans, Bulgars, Austrians, Turks, Italians and Germans.
Modern Albania was founded in 1912. After many difficult years, including an Italian and a German occupation and a brutal communist dictatorship, Albania is now a functioning democracy, being a NATO member and an EU candidate country.
Real estate in Albania:
Real estate always requires care and attention to detail. This is also the case in Albania. It can be dangerous / expensive to get too heated and hasty.
The communists left, like in e.g. East Germany, a partial chaos. The task has been to solve disputes about ownership of property. This task is not quite finished, and therefore it can in some cases lead to problems when real estate transactions are managed.
The paperwork for completion of real estate transactions is carried out in Albania by notaries / lawyers. It is the notary's job to ensure that all formalities have been investigated and are in place. Registration is carried out at the Land Registry. The system is similar e. g. to the Danish system.
Come and see for yourself:
Investing in real estate in Albania requires that you are present and engage in dialogue with the owner. A lot of coffee will have to be consumed. Patience is a virtue.
It may sound trivial to say that Albanians are hospitable. It is of course like that in many places. But hospitality is deeply rooted in the Albanian mentality.
The next step:
If you have become interested in visiting Albania, to look around and maybe invest - you are welcome to contact Amantia- Homes.