Foreigners are buying apartments in the Albanian coast

Foreigners are buying apartments in the Albanian coast

 The Foreigners are continuing to keep on the move the real estate market at the seaside in Albania. According to the main agencies in the country, the main reason here remains the free prices, while the main buyers are from the countries of the region, which do not have the Sea, including Russians and the Serbs. This is  understandably related also to geopolitical factors.

The improvement of the infrastructure is attracting buyers in Durres. The focus of agencies on the coast is capturing foreign markets ...

The price per square meter of an apartment across the train track at the beach in Durres varies from 300 to 350 euros, which has attracted foreign buyers and according to the apartment managesr have a relatively young age, from 30 to 50 years. All sales were conducted through real estate agencies and the properties were blocked by banks.

The budget is one of the factors influencing the definition of the area for individuals seeking to buy on the coast. For families with a limited budget, Durres is the main area, while the higher-income families seek mostly the South and generally invest for a property in residential complexes. Based on property listings made by real estate agencies, the Monitor magazine has calculated the average prices of apartments on the Albanian coast.

Shengjin is the area where the bids are lower, reflecting the stability of the real estate market in that area and the individuals who bought an apartment mostly do not want to resell it, while the new construction is focusing mostly on the hotel. Individuals who have bought in Shengjin, starting with the high attendance of the coast are mainly Kosovo Albanians, who use the properties for the rental market. However, based on the main agencies in the country, the average price per square meter in the Shengjin area is about 720 euros.
Average cost of apartments in Albanian coast
Average cost of apartments in Albanian coast
The coast of Durres can be divided into three zones, based on the price of properties.

The most expensive area for apartment prices is Gulf of Lalze, where the price per square meter varies from 900 to 1100 euros per square meter, depending on the residential complex where the apartment is located.

The second zone starts from Plepat to the vicinity of Golem. In this area of Durres there are many offers for sale, based on the properties listed by the main real estate agencies in the country. The lowest prices are for apartments in the courtyards built after the railway, as in the case at issue, sold at the price of 300 euros per square meter.

According to the listed offers, near the Adriatic Hotel in Durrës you can find an apartment with an average price of 450 euros per square meter. For apartments that are closer to the seashore, average prices range from 700-750 euros / m².

The third area is Golemi, Pishat a Buta and the beach of Qerret, where the prices for the apartment are around 800-850 euro per square meter, since the residences are complex and have the convenience of attracting buyers. Albania's south remains the most expensive area not only for apartments but for villas as well. In Vlora, the cheapest areas are Rradhima and Orikumi. According to the bids listed in Rradhime, for a residential apartment, the average price is 700 euros per square meter, while in Orikum, average apartment prices are about 450-500 euros / m², depending on the proximity to the sea shore.

The most expensive one continues to remain the Riviera. An apartment in Dhërmi costs an average of 1200 euros / m², while in terms of the bidding list,these apartments are not numerous in number. According to the main real estate agencies and those with a focus on the coast, Saranda continues to be the "queen" of the Albanian coast. The average prices of apartments in Saranda are 900 euros / m². Saranda has been mainly a Scandinavian choice, driven by the proximity to Corfu Airport.
Foreigners are buying apartments in the Albanian coast Foreigners are buying apartments in the Albanian coast Monday, October 08, 2018 Rating: 5
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