Why did I choose Albania for living and buying real estate?

Client dossier: Maxim from Yekaterinburg

Real Estate Specialist: Albania Expert

Region: Albania, city of Vlorë

Object type: 1+1 apartment, area 80 m²

Price: €50,000

Transaction: Secondary housing market in a new building, December 2021

Impression of Albania

Maxim had never been to Albania before, but this country made a deep impression on him. The process of choosing a place for emigration was carefully thought out, and ultimately, many factors contributed to his preference for Albania, excluding more familiar destinations.

One of the key points was the fact that in order to obtainresidence permitIn EU countries, the requirements in Albania are significantly less strict. He made comparisons with the Baltic states, and according to Albanian laws, the cost of real estate did not have a decisive influence on this issue. However, it is worth noting that every foreign citizen wishing to obtain a residence permit must have at least 20 square meters of housing at their disposal. The purchase of an apartment with an area of 65 m² can be made for an amount starting from €37,000 to €40,000.

Rights of foreign citizens

Foreigners in Albania also have equal rights with the citizens of the country.

• They can freely acquire both residential and commercial real estate.
• The absence of restrictions throughout the entire territory of the state.

This further encourages people to make the decision to move. Another important factor is safety. Albania is considered a stable region in Europe with a low crime rate. Government institutions are actively working to improve the level of safety in the country, based on the recommendations of the European Commission, which is related to Albania's intention to become part of the EU.

Visa-free entry for Russians

Maxim found the visa-free visit to Albania for Russian citizens equally appealing. From April 1 to December 31, 2021, Russians could visit the country for tourism or private trips without any significant obstacles. Maxim had the opportunity to stay inAlbaniaUp to 90 days from the date of arrival, but no more than 180 days in a year. Moreover, he was glad that at the time of his arrival, wearing masks in public places was not mandatory, and there were no vaccination requirements at all. Many Western countries, including the USA and Canada, became less attractive to him precisely because of the vaccination requirement for entry.

Research and decision-making

Maxim decided on his direction and the type of real estate he was looking for in just two months. He actively immersed himself in studying information, reading articles, blogs, and analyzing specialized resources. In addition, he consulted with friends, which led him to an acquaintance who had lived in Albania for a long time and was able to share his experience. This approach contributed to a more confident and swift realization of his desire to move to this magnificent country, rich in opportunities and chances for success.

Conclusion

His interest in Albania and its unique living conditions prompted him to make a decision that he now considers absolutely right. This cosmic leap became the starting point of his new life, filled with meaningful events and discoveries, with a new horizon.

Impressions of life in Albania

He shared with me his observations about life in the country, the standard of living of the locals, their attitude towards foreigners, as well as the measures taken to control the spread of COVID. This conversation completely dispelled all my doubts and prejudices. I realized that Albania is the optimal choice for me, and I decided to start looking for housing.

Criteria for choosing a city

When choosing a city to live in, I relied on two main criteria:

• Adriatic Sea coast.
• Low seismic activity.

I researched information on five specialized portals that track earthquakes in Albania and analyzed statistics from the last few years for cities like Vlorë, Saranda, and Durrës. As a result, the safest place to live turned out to be the resort town of Vlorë. This coastal city in the south is renowned not only for its cultural heritage and convenient location (just 72 km from Italy across the strait) but also for its vast potential for the future.

Infrastructure changes

In particular, the construction of a new international airport near Vlorë will soon begin, which will complement the existing airport in Tirana. The new airport is expected to accommodate up to 2 million passengers a year, which will significantly change the tourist appeal of the region, impact the economic development of the area, and consequently affect housing prices.

Housing search

As soon as I found suitable housing, I immediately bought a one-way ticket. When it came to searching for real estate, I used various platforms and websites from both local and international realtors. There were many options, and I selected a few interesting offers, contacted the agencies, arranged viewings, and promptly purchased a ticket with the intention of moving. In December 2021, I landed in Albania.

Arriving in Albania

Among all the offered apartments, three properties in Vlera attracted me the most. They were all in the same building, which met many of my requirements: location, construction quality, condition, and price range.

Unexpected difficulties

However, when I arrived, I was informed that the very three apartments I had been actively considering had actually been sold, and no one had notified me in advance. This was a real blow for me because I flew in with the confidence that I had plenty of options, while in reality, everything turned out to be quite different.

Cooperation with the agency

In the following period, my interaction was with the company Albania Expert, which assisted me both in finding housing and in processing the documents for obtaining a residence permit. In a short time, the agent and I viewed about ten different properties, most of which were offered by this company. Interestingly, the agents managed to find an apartment in the very building that I liked so much. Ultimately, it was this apartment that I purchased.

Property search in Durres

Although I admit that I explored various real estate options in Durrës, out of the seven properties I looked at, five had cracks. Therefore, the low seismic activity of the region and the quality of construction materials became important factors for me. Additionally, I have mixed feelings about the city itself.

My experience of buying an apartment in Albania

I will share my personal experience that I gained in the Balkans when I bought an apartment in Albania during the pandemic. It was an unplanned investment decision in residential real estate in Radhimë, as I realized that it would not only serve as a vacation option but also as an opportunity to rent the apartment out.

A friend's story

I had an acquaintance from Ukraine who decided to sell his property in Spain and bought an apartment in Albania. Now he is considering moving completely, as he managed to do so at a reasonable price.€50,000to acquire a spacious apartment in one of the largest districts of Vlorë.

Choosing an apartment

In the end, I chose an apartment in Vlorë, which is located near the new Lungomare promenade. It takes about four to five minutes to walk there. This area is indeed considered prestigious, with a well-developed infrastructure:

• stores;
• cafe;
• pharmacies
• banks.

Surrounding area

At a distance2.1 kmFrom my new house, there is another beach located, and beyond that...3 kilometersThe observation deck Kuzum-Baba is located here. The building where I bought my apartment was constructed in2018and designed with seismic resistance in mind, as well as efficient water purification systems for the water supplied to the apartments.

Apartment description

The apartment has a layout.2includes:

• a spacious living room with a kitchen;
• bedroom;
• bathroom;
• balcony.

The total area is80 square metersand it is located on the first floor of a nine-story building. The price for this apartment was€50,000that is an attractive offer.

Additional repair

Another apartment in Vlorë, which Maxim purchased, was provided with a finished interior. I also decided to make a few changes to make the space more comfortable:

• I updated the wall paint.
• laid the tiles;
• I renovated the shower.
• I installed an awning and two air conditioners.
• I bought new furniture.

The repair was carried out by a team of specialists I found through recommendations from local hardware stores. They worked efficiently and on time. In total, I spent about€5-6 thousand.

Purchasing process

The whole buying process turned out to be a bit prolonged due to delays with the Russian bank. Although the deal was completed fairly quickly, it could have been finished even more efficiently if it weren't for the delays that arose. As soon as I decided on the apartment, I immediately left a deposit for the seller in the amount of€500A preliminary check of the property for encumbrances was not required since it was a new house, and the apartment had all the necessary legal documents verified by specialists. I only needed to provide my passport and cash. The next day, we headed to the notary to finalize all the necessary paperwork.

I had been preparing for a long time to purchase real estate and was ready to fully cover the financial expenses, but I faced difficulties when transferring funds from my account in Russia to the temporary account of the notary. The bank in Russia required me to provide documents confirming the legality of the source of the funds within a short timeframe. The amount in question was from the sale of an apartment in Yekaterinburg. They also stated that I needed to confirm that the Albanian bank account is a notary account. Additionally, I needed a notarized translation of the purchase agreement into Russian.

Fortunately, I found the company Albania Expert, which helped me promptly meet all the requirements. As soon as my bank confirmed the legality of the transaction, the funds were transferred to the notary's account. After that, we immediately signed the main sales contract, and the deal was registered with the National Cadastral Agency. In the end, the entire process took just ten days, and on December 15, I received the certificate of ownership.

Additional expenses

It is important to note that besides the price of the property, the main expenses in the transaction became:

• State fees for registration, which amounted to approximately 80 euros;
• The fee for the specialists who assisted throughout the entire process.

In the end, all financial expenses amounted to about 1500 euros.

About three days after I submitted my documents to the migration service, I was issued a temporary residence permit, which was formatted on a standard A4 sheet. This document allowed me to open a bank account at one of the local financial institutions. However, to do this, I needed to deposit a certain amount into the account, which had to be sufficient for my living expenses in the country for the agreed period. The amount was determined individually for each case. In my specific situation, it was set at €3,000.

Issues with opening an account

It is worth noting that only two banking institutions agreed to allow me to open an account while I was in the status of a non-resident. Most credit organizations required a plastic version of the residence permit, as the temporary document issued by the migration authorities did not meet their requirements. A possible reason for this practice could be that the new rules for obtaining a residence permit had just come into effect, and the banks had not yet managed to adapt to them.

The process of document processing

After I deposited the required amount, the bank issued me all the necessary documents, which I then submitted to the immigration service. The processing of my application by the authorities took about two and a half months, after which I received a notification that my request had been approved. It was important to provide proof of address with information about the street and house number of my purchased property before submitting my biometric data. To obtain such a document, I had to visit several government offices.

• First, I needed to visit the city hall, where I was issued an essential document based on the property purchase certificate.
• Next, with this certificate, I went to the registry office, where I received the address certificate required for the migration service.

I handed this document to the employee of the migration department, submitted my biometric data, paid the fee of €50 for the issuance of the plastic card, and tracked that within five days I was already holding my biometric card in my hands.

Validity period and extension

My temporary residence permit is valid for one year, until the end of April 2023. Every year, I will have to renew this document by providing proof of property ownership and maintaining my assets throughout the duration of the residence permit. After five years of continuous residence in this country, I will be able to apply for permanent residency. To obtain a local passport, one must stay in the country for five consecutive years, with a total absence of no more than ten months allowed. It will also be important to learn the Albanian language. I have already started learning the language: I found a local resident who will teach me Albanian four times a week for an hour each time.

New law "on foreigners"

In addition, a new law "on foreigners" has been adopted in Albania, which has significantly revised the rules. The main point is that now the right to a temporary residence permit is granted to property owners. Albania is a small country in the Balkans with a population of only about three million people, which creates an atmosphere of closeness and sociability: the locals seem to know each other. There is a very friendly atmosphere here. During my stay in this country, I managed to communicate with dozens of people from various walks of life, and none of them showed any hostility towards me. This place left me with only pleasant memories.

The relationship between Albanians and Russians

Reflections on the relationship between Albanians and Russians are filled with many nuances, especially when it comes to the older generation. They generally have warm feelings towards Russians, perceiving them as friendly and open individuals. However, during the Soviet era, Albanians developed a somewhat ambiguous opinion about Russia, influenced by the country's lack of participation in the Warsaw Pact.

At present, Albania is an actively developing country in southeastern Europe and is striving for membership in the European Union, which is impacting its economy and, consequently, the standard of living of its citizens.

Real estate in Albania

Real estate in Albania shows impressive prospects, and there is currently a wide selection of residential properties available. For example, for the amount of 45,000 euros, it is possible to purchase a 38 square meter one-bedroom apartment in Saranda. This studio is sold fully furnished and is located just 150 meters from the sea. Online tours of these properties are organized for foreign buyers.

Housing offers

• For those looking for more spacious living options, a house in Albania is available for 95,000 euros. This property has an area of 44 square meters and includes two bedrooms. For more information about this offer, it is advisable to contact the agent at Habita.
• In Durrës, there is a two-story villa priced at 282,000 euros. This property offers 250 square meters of living space, including a garage of 32 square meters. This option will appeal to those who dream of living in their own home and becoming property owners on the coast.
• If you are interested in more affordable options, you can find an apartment in Durres for 31,000 euros. This property, which is a studio measuring 31 square meters, also has the potential for obtaining a legal residence permit upon purchase.

Dear and affordable options

More expensive options are also rapidly developing. For example, in Tirana, you can find apartments with an area of 88 square meters priced at 135,000 euros. These apartments are located in convenient locations that can be reached without long trips.

A compact house in Durrës, priced at 75,000 euros, will be the perfect place to live. It has an area of 72 square meters and features a cozy yard with a garden. It is located just one kilometer from the beach, making it an excellent option for fans of seaside strolls.

Selection of apartments in Durres

• In the city of Golem in Durrës, there is an apartment for sale with an area of 60 square meters priced at 49,000 euros, located just 150 meters from a wide sandy beach, making it ideal for lovers of active seaside recreation.
• In Durrës, you can also find an interesting offer — an apartment for 80,000 euros with an area of 65 square meters, designed in a modern style and located in a prestigious area just 100 meters from the sea.

Investment opportunities

A house is for sale in Vlorë for 160,000 euros with an area of 74 square meters, as well as apartments in Tirana priced at 165,000 and 150,000 euros respectively. These offers may attract the attention of investors, as the rapid development and growth of the real estate market in the region make such investments extremely profitable.

Conclusion

Thus, modern Albania offers a wide range of alternatives for purchasing housing, both for personal living and for investment. The real estate market is actively evolving, and many locals are actively seeking good deals that will make their lives more comfortable and of higher quality.

Conclusion

In concluding my story about buying real estate in Albania, I want to summarize some points and share my thoughts. The entire process turned out to be not only exciting but also educational. I reviewed many options, explored various aspects of life in this country, and ultimately found a suitable option for myself.

Advantages of living in Albania

Albania, as I have already noted, surprised me with its accessibility and safety. The ability to quickly get...residence permitThe lack of strict restrictions on property purchases for foreigners became an important factor in my decision. I realized that this country could become not just a new place to live, but also a space where I can pursue my goals and dreams.

Prospects of the region

Observing the development of the city of Vlorë, which I have chosen as my new home, I see enormous potential. The construction of a new airport and the development of tourist infrastructure promise not only new business opportunities but also attractive prospects for real estate investment.

Lessons learned in the process

I also learned that it's important to be flexible and ready for changes, as happened in my case with the realtor who helped me find the perfect apartment when my initial plans fell through. The support of professionals in this matter turned out to be invaluable, and I am grateful for that.

Result

Overall, my experience shows that even if you have never been to a country, it shouldn't be a barrier to starting a new life. The key is thorough analysis and making the right choices. Now I have my own shelter on a beautiful coastline, and I am looking forward to starting a new chapter of my life in Albania. Life is full of opportunities, and I am ready to take advantage of each one.