by Papagalli » Tue May 09, 2017 6:56 pm
You buy property where you live, that way you can manage it! Otherwise it is not an investment rather than an expense/luxury. My parents purchased multiple apartments in Vlora and they're a headache, if you plan on renting it good luck, only lowlives rent in albania. In Tirana it's a different story, given the influx of people in and out, you can rent to decent people or even foreigners if you know the right people. This is coming from someone with experience, unless you go and live or visit the location a few times a year it's not worth it, it is a luxury and an expense not a investment. They're introducing property tax in albania now so it's even worse, also if you plan to rent, most of the tenants won't pay the bills thus leaving you to pay for them because the system charges the owner and not the tenant. My dad constantly goes back home to manage it and in the end always comes at a loss, he personally likes it down there so it's not too bad, and things are getting better, but again if you purchase property be prepared to to deal with shady ppl. On multiple occasions they cut the water in one of our apt because they felt like it. When I got there I lost my mind and nearly strangled this old dude who kept acting like hot stuff. My advice is, buy something if you visit albania often (multiple times a year) otherwise either rent or get a hotel, it's cheaper and hassle free.
PS,
The apt we have were all build in 2007 or later, and they're in prime locations and problems still persist. Imagine if we owned something from the 90s or Enver's time in a rural area, dear god that would've been a nightmare.
You buy property where you live, that way you can manage it! Otherwise it is not an investment rather than an expense/luxury. My parents purchased multiple apartments in Vlora and they're a headache, if you plan on renting it good luck, only lowlives rent in albania. In Tirana it's a different story, given the influx of people in and out, you can rent to decent people or even foreigners if you know the right people. This is coming from someone with experience, unless you go and live or visit the location a few times a year it's not worth it, it is a luxury and an expense not a investment. They're introducing property tax in albania now so it's even worse, also if you plan to rent, most of the tenants won't pay the bills thus leaving you to pay for them because the system charges the owner and not the tenant. My dad constantly goes back home to manage it and in the end always comes at a loss, he personally likes it down there so it's not too bad, and things are getting better, but again if you purchase property be prepared to to deal with shady ppl. On multiple occasions they cut the water in one of our apt because they felt like it. When I got there I lost my mind and nearly strangled this old dude who kept acting like hot stuff. My advice is, buy something if you visit albania often (multiple times a year) otherwise either rent or get a hotel, it's cheaper and hassle free.
PS,
The apt we have were all build in 2007 or later, and they're in prime locations and problems still persist. Imagine if we owned something from the 90s or Enver's time in a rural area, dear god that would've been a nightmare.