Immobiliare Albania - Saranda Residence

Project: Africa Beach Residence

Apartments

An outstanding investment opportunity on the coast of the stunning southern Ionian Sea…

Important Note:The information contained within this document does not form part of any contractual agreement. Investors should seek personal taxation, legal & financial advice before deciding to invest.

Albania… undiscoveredThe Republic of Albania (capital; Tirana), is a Balkan country in South-eastern Europe. It borders Montenegro to the north, Kosovo the northeast, Macedonia east, and Greece to the south and opposite the ‘heel’ of Italy. It is a comparatively small country with an area of 28,748 Km2 and a population of 3.6m (2007 estimate). It has some 362km of beautiful coastline with the Adriatic Sea to the west and the Ionian Sea to the south-west. Albania was first populated in the Stone Age, over 100,000 years ago.

As yet Albania is a relatively undiscovered jewel off the beaten track, offering a wealth of stunning scenery, history and culture. A warm Mediterranean climate encourages a relatively slow pace of life and holiday makers will find it easy to slip into the meandering life style for a truly relaxing break. If the clear blue waters do not entice you on to the beaches, other activities abound. From leisurely trips around the many historical or cultural sites, to exploration across the national parks, there really is something for everyone. For the really adventurous diving, white-water rafting, climbing, and paragliding are among the activities on offer.

Albania's EU membership bid has been set as a priority by the European Commission. Albania has an impressive 5.5% annual increase in GDP with inflation steady at around 2.5% yet property increasing circa 25-30% pa.

Saranda… Albania’s most southern city.

Saranda is an old urban center known in ancient times by the name of Onkesmos. The present name of Saranda derives from an early Christian monastery dedicated to Santi Quaranta (Italian meaning ‘Forty Saints’). Opposite and just 5 nautical miles from the Island of Corfu, on the coast of the Ionian sea, Saranda is visited by over 50,000 day trippers who make the 30-45min ferry crossing to come and enjoy this previously inaccessible resort. The southern coast of Albania is an area overflowing with exquisite ecological beauty. The region extends from the coast south-east of Saranda, approximately 15 km long and 5 km wide, up to the Greek border.

This is a place of unique beauty, where mountains and the ocean meet creating cliffs, grottos, caves, hillsides, harbors, bays encompassing some of the most incredibly intact and ancient ecosystems. Saranda and the surrounding area also holds many of the Albania's most significant archaeological sites. An impressive local attraction is the Lëkurës Castle which commands a great view of Saranda and its harbour. Moreover, the Archaeological Part of Butrint located 19km away adds particular value to visiting Saranda.

The sunsets are particularly famous,when the island of Corfu appears to mystically float on the surface of the Ionian Sea.

Property is seen as a lead economic driver and is now presenting many unique and enterprising opportunities.

We offer an array of stunning Albanian property investments with outstanding potential for residential and commercial buyers in one of the world’s fastest growing property locations at a fraction of the cost in most other European locations.

Saranda in front of Saranda Saranda harbour Future for capital city: Tirana

Africa Beach Residence

right next door

Harbour View

Montenegro a genuine comparison

Saranda

Montenegro is much smaller than Albania and yet has been under the eye of the shrewd international investor for around 3 years now and literally hundreds of millions of euros have poured into this small country.

Montenegro is enjoying immense GDP growth largely as a result of the increasing Tourism market. Initially the banking sector took of with construction and developments hot on their heels.

Montenegro today is enjoying the accolade of being named as ‘the hottest place on earth’ for property investment… BBC September 2007

Albania is next!

A genuine comparison comparison


The Hotel market in Montenegro tells and teaches us much with particular attention being brought to future growth projections.

Average Beds p/Hotel: 59.6

right next door

A genuine comparison comparison


Fact; €11 billion EU funding

Future NATO and EU member

Investor-friendly environment

“Albania’s real charm lies in its coastline, which stretches more than 200 miles from the Adriatic, in the north, to the Ionian, in the south.”The Sunday Times, August 2007

€35€35

Albania…Albania…Albania…Albania…

Tax .State Property Tax: NONE .

VAT: NONE .

Capital Gains Tax: NONE .

Rental Tax: 10% of Rental Income

With-holding Tax: NONE .

Inheritance Tax: NONE .

Property Sales Tax: 10% (paid by seller) .



SarandaSaranda today… a new promenade, many new developments and attractions not to mention, deep today… a new promenade, many new developments and attractions not to mention, deep blue skies… glorious sun, sea and multiple areas of interest surrounding Saranda.blue skies… glorious sun, sea and multiple areas of interest surrounding Saranda.


This is ....


Perfect Location

▪ South West Facing Site

▪ Great Views of the Ionian Sea, Corfu,

and Saranda bay

▪ Front beach, just next to one of most

popular beaches in Saranda

▪ An Outstanding Opportunity

▪ 2 months from completion

SARANDA SITE LOCATION


Africa development,

your future investment

Saranda

• A well-thought designed building where 100% of all apartments have sea view, Africa development offers you 1bedroom, 2bedrooms and 3bedrooms apartments with balconies, comfortable m2 and a good plan layout!

• Even apartments on the back of the residence do have a sea view!• The development has garages available and will have services such as

shops, cafes, restaurants...




• It is a 7 floors high development, with 2 floors of commercial areas at the bottom, 1, 2 and 3 bed apartments

• To be completed within November 2008

• The residence is in the final stage: puting the inner doors starting painting the facade

• This residence has a perfect design which allows all apartments to have its un-obstructed view

• 2 lifts

• Car parking available

• All documents clean and can be seen


A contemporary design and clear view of the

Corfu island in front (35 minutes away by ferry)

It is located inside the city, and 2-3 minutes

walk from the centre of town and yet offers the

deep blue Ionian sea views and views of

Saranda Bay and Corfu

We are able to offer you a fine choice of one and

two bed apartments with full 360 degrees

sea views, which will remain totally

unobstructed from the first floor, “forever”!

The facade, as can be seen, is Finished and in

this picture, waiting to be painted !

Full specifications can be given on request.


In addition this resort offers other advantages:

• The Africa Beach below is a great attraction

for all the tourists and the locals.

• The famous Butrinti! One of the best

archeological sites of the Mediterranian

is only 10 minutes drive from the resort

• It has now been agreed that Saranda airport

will open for internal flights by the end of

2009. Meaning a flight journey of just 30

minutes from Tirana.



www.immobiliarealbania.com

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143.7 m2



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Key features

• 35 minutes from Corfu by Cat Ferry

• Studio from €650/1 m2

• 1 bed apartments from €650/1 m2 • 2 bed apartments from €700 /1 m2

• 3 bed aprartments from €800/1 m2

• Parking space available for every apartment from €11,000

(optional). This is an exceptional price in comparison to

others, in a overcrowded city during the summer season

• Air conditioning units not included in the price, but

can be purchased for as low as €400

• All apartments with glorious sea view

• Maintenance fee approx €20 per month.

• 2-3 minutes walk from the centre of Saranda.

• Frontline and forever unobstructed.

• Expected Capital Growth 15%-20% in 2008

• Yields for this area are expected to be around 7% pa

• Favorable installments: Please ask for details.



Payment Schedule*

1. On signing of the reservation – Reservation / agency fee of 2000 EUR

2. On signing of contract 50% to be paid to developer

3. On signing of contract- approx 1100 EUR to be paid for legal services

4. 2 months from signing of contract 35% to be paid to developer

5. On completion and title deed – 15%

*These payment schedules were correct at the time of writing. They may vary depending on how close to

completion the purchase is made.

We have visited this site on a number of occasions and firmly believe this to be a first class

opportunity to invest in an area of considerable Capital Growth, strong rental and have a

good exit strategy in years to come.


Exit Strategy

Investments in Albania should be looked at for a minimum of 5 years.

Due to the strong location, quality, amenities and uniqueness of the

development, the selling (exit strategy) will always be good.

Here are the approximate figures as an example

of money to be made from this development.

Purchase Cost = from 36,000

Fees and legal = 3,000

Car Parking = 11,000

Furniture = 4,500

Air Cons (2) = 800

Annual Service = 750

Rental charges = 600

Total first year = 69,960

Total year 2 – 5 = 5,400

Approx Rent 1 – 5 = 21,000 gross

Total Cost = 75,090

Appreciation @ 20% pa = 108,780 in year 5 on sale

Appreciation = approx 150% gross

CGT is currently 10%.

This CGT is closely offset by the achieved rental.


Important notes !

1. All thorough due diligence has been taken out for this development

2. The development is legal in title and permissions

3. Refundable deposit before 10 days, should you wish to not proceed


the road aheadthe road aheadthe road aheadthe road ahead


Why Invest in Africa Beach Residence?

The enviable panoramic location and the short supply of luxury accommodation in the Saranda region will ensure the success of this pioneering luxurious development. Albania is now ripe for western investment due to its developing high profile.

The Albanian market is experiencing increased demand for property and growth in tourism. With 362km of Adriatic and Ionian coastline, over 150 beaches, parklands, lakes and 290 days of sunshine a year, this tiny East European country may eventually turn out to be the most beautiful and profitable of the emerging tourist and second home markets for International visitors and buyers alike.

Stability in the region, limited exchange risk as the currency is the lek and euro as well as the escalating activity and drive towards NATO and EU membership is generating unprecedented inward foreign direct investment and contributing to economic growth.

Albanian tourism is expected to grow by over 10% in 2008 and maintain this level on an annual basis, in real terms, between 2008 and 2017. Multiple agencies predict Albania will become one of the world’s fastest growing travel and tourism economies during the coming the next 5 years. Albania Travel and Tourist Economy employment is estimated at 15% of total employment and by 2017, over 20% of total employment. Already, tourism accounted for 12% of Albania’s GDP - the target is 20% by 2012.

As a result of the expected growth in tourism currently taking place in Albania has seen the opening of a new airport terminal with immediate expansion capability. 2007 has seen visitors to Albania break through the 1,000,000 barrier. EU support, through multiple agencies is raising literally tens of millions of euros for reconstruction and development projects throughout Albania.

The Albanian Government is clearly focused on modernising the country’s infrastructure with many key projects announced or underway. The International port of Durres is receiving some $400m in port expansion and modernisation, together with rail feasibility and new road network projects underway including the important Corridor VIII link. All this gives Albania a great opportunity for the country to use its geographical position and become a regional transport centre.


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Immobiliare Albania - Saranda Residence