Real Estate

OWNERSHIP RIGHT ACQUISITION

Real estate ownership right acquisition in Albania can be accomplished in several legal forms. In each case, ownership right acquisition follows two phases:

  • Ownership right acquisition through a public authority act or a notarial act (usually a purchase contract, a land donation or a land exchange). 
  • Ownership right transfer completion through a relevant act registration or a Registry Office or Real Estate Office contract. 

The main method to acquire ownership right of a real estate is through the purchase contract.

Pursuant to law no. 7980, dt. 27.07.1995 “On the sale and purchase of land”, as amended, and law no. 8337, dt. 30.04.1998 “On the Ownership Transfer of Agricultural Land, Forests, Pastures and Meadows”, several limitations apply to foreigners who intend to purchase land in Albania. Foreign individuals and/or legal persons are entitled to purchase land merely upon investment completion in accordance with the appropriate construction permit, to a value no less than threefold the value of the purchased land. As pertaining to agricultural land, forests, pastures and meadows, no foreign individuals and/or legal persons are entitled to acquire ownership rights. The latter are, however, entitled to lease agricultural land for a period of up to 99 years. Leasing of agricultural land, forests, pastures and meadows is carried out in accordance with the Civil Code provisions.

The above restrictions do not apply when a new Albanian company/association is established, despite the citizenship of its owner/s. Furthermore, in accordance with the Stabilization and Association Agreement which came into force in June 2009, Albania has agreed that national legislation will gradually improve no later than seven years from this agreement’s entry into force.

One of the principal reforms of the Government of Albania has been the arrangement of a real estate registration system to be administered by the Real Estate Registration Office and to be used to document ownership titles and other real estate legal rights according to legal documentation that ascertains real estate ownership. The abovementioned system is expected
to also be used to prepare, maintain and administer real estate records, cadastral maps and other documentation ascertaining ownership right of and/or other legal rights over real estate.

 

STATE OWNED PROPERTY

State-owned property can be transferred to private operators in three forms:

  • Sale by denationalization (privatization);
  • Leasing;
  • Emphyteusis.

State-owned property is given to third parties by transferring leasing right or emphyteusis through public procurement procedure.

State-owned property that may be leased  are considered: buildings, functional surfaces (not underneath a building), free terrain, machinery,  equipment and production lines of state institutions, enterprises and trade companies fully owned by the government (henceforth "state companies") and unproductive lands. State-owned property, leased by Emphyteusis as specified in paragraph 1, is considered solely state institutions, and State-owned enterprises, real estate.

Public procurement application criteria to lease state property are as follows:

  • Level of investment; 
  • Level of employment; 
  • Offer of monthly rent obligation.

Central and local governmental institutions may set additional criteria.

Public procurement application criteria for Emphyteutic leasing of State-owned property are as follows:

  • The real estate investment level aimed to property improvement must be above 200 percent of the property value declared for public procurement; 
  • Purpose and overall level of investment aimed to improve the property to be leased by Emphyteusis; 
  • Level of employment; 
  • Offer of monthly rent obligation. 

Central and local governmental institutions may set additional criteria.

 

FEES AND FLOOR VALUE FOR LEASED/LEASED BY EMPHYTEUSIS STATE-OWNED PROPERTY

Monthly obligation floor value for leased/leased by Emphyteusis State-owned property is determined as a sum of the monthly interest on the building and functional surface which is leased/leased by Emphyteusis, and is calculated as follows:

For buildings (considered such, as defined in the enactments and regulations in force, pertaining to the sphere of territorial planning), floor monthly rates for leasing is defined in the Table  "A" attached to this document.
For functional surfaces, floor monthly rate for leasing amounts to 20 percent of the leasing floor monthly rates defined for buildings. The space under a building is included in the rental fee of that building.
Unproductive lands, as defined in the law nr.8752, dated 26.03.2001, "On the establishment and functioning of the structures for the management and protection of the earth", as amended, the floor monthly leasing fees are the same as those for agricultural lands.
For property administered by the Directorate of Governmental Services, the floor monthly rates of leasing are detailed in Table "B"attached to this document. In the case of the facilities of the Palace of Congresses, the Directorate of Governmental Services applies rates which are different compared to those provided above, with the approval of the Council of Ministers.

 

BUSINESS PROMOTION

For leased facilities leasing, with an area of 200 m2, the monthly value is recalculated with the discount, the entity that received rent or leasing, confirms in its annual accounts that has made investments in property taken rental or leasing for its improvement, as well as to purchase the installation of lines, machinery and equipment in values, as follows:

 

THE €1 SYMBOLIC FEE CONTRACT

State-owned property with an area of above ​​500 m2, will be given to third parties accompanied  by a lease contract with the symbolic fee of €1, in accordance with case-by-case decisions of the Council of Ministers.

When, after the completion of public procurement competition procedures, the winning party proposes to use the leased State property for activities such as:

  • industrial production with investment levels of over 300 000 000 ALL (three hundred million); ( over 21 450 000 €);
  • active processing of goods, which will provide not less than 50 jobs;
  • agribusiness activities, such as collecting, processing and sale of agricultural products or livestock, with investment levels over 100,000,000 ALL (one hundred million),( over 7 150 000 €); 
  • In education activities, and media activities, investment levels over 200,000,000 ALL (two hundred million). (over 14 290 000 €);
  • for construction activity, well-retention service, marine vessels deconstruction assets, investment levels over 500,000,000 ALL (five hundred million). (over  35 720 000 €)

 

Private Property

Evaluation of the performance and contribution of the real estate sector in our country, the increase in demand for immovable property in the real estate market continues to undergo changes in response to customer expectations. The real estate sector is experiencing a development trend that definitely enhances its contribution in the national economy.

The market for office space is growing, especially in big cities like Tirana, Durres, and Vlora. In recent years there has been a tendency to construct of business centers equipped with the latest technology, which offer complete services for tenants and purchasers of business environments. Demand for this type of facilities has been growing and construction industry has responded by providing high quality and technologically equipped buildings.

Another growing trend observed in the real estate sector is the interest in the properties on the coastline. The interest has, at present, shifted to tourist villages, where the main reasons for this is for: the good infrastructure, green landscape, and security.

Detailed information on Annex Attached, Table "C".

Source: www.aida.gov.al 

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