Property in Albania

This property in Albania has been identified by Property Uncovered as being an exceptional investment opportunity due to its up-and-coming area and its stunning prices.


TERRANOVA


CONTROL PANEL
City: Tirana
Prices from: € 42,847
Local mortgage: available
LTV: 50%
Total units: 100
Available units: 90
Under market value: 8%
Expected capital growth: 20% pa
Letting agent: dedicated local agent
Expected rental yield: 8% gross
Currency: Lek
Advised exit strategy: mid-term
Main feature: Location set to take off


DESCRIPTION
The Terranova Residence allows you to profit from the fast developing residential real estate market in Tirana.

This development is designed for the growing mid-market sector of the residential market. The developing economy has creating a rapidly emerging middle class. This emerging middle class is looking to improve their status' including moving to new higher standing apartment buildings.

Situated next to the new Tirana ring, the development is aimed at young upwardly mobile professionals. The urbanization also brings more and more new comers to Tirana giving excellent growth prospects as Tirana's economy is flourishing.

Location
The Terranova Residence is built on a plot situated at 400m from the new Tirana ring and the Kavaja Street one of the two main access road of Tirana (see map).

Transport
The Terranova Residence has excellent access to the public transportation of the Kavaja Street and the New ring road.

Services
The supply of the area with services is exceptionally good, all basic and trade services are accessible on foot.



Building
The Terranova Residence is a contemporary scheme of 1, 2 and 3 bedroom apartment's part of the UNAZA new quarter which has been designed to be an affordable, yet practical development, providing a perfectly balanced lifestyle for its residents and an unbeatable opportunity for investors. The Terranova Residence is a freehold mixed use building comprising commercial ground and lower ground and residential upper parts with a total of 10'000m2.

The commercial areas comprise mini-market, laundry services, restaurant and some bars on the ground floor. 50 parkings are located on the underground floor. There are eight residential floors comprising more than 100 self contained flats, a mixture of one, two and three beds, with balcony and/or veranda.

The spacious residential lots to be deliver 1st quarter 2008 are built by the subdivision of a publicly listed Greek company with million square meters of reference.



You can also find more information on property for sale in Tirana by following the link.