Invest in appartments in Albania - Terranova Residence - New Release

Same coastline as Croatia and Montenegro
No Purchase Tax or Capital Gains Tax
High Capital Growth
EU entry scheduled for 2014
Hundreds of millions being invested in the country by EU
Prices From Just £29k!
Realistic chance to triple your money in three years


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Albania shares the same stunning coastline as Croatia and Montenegro. However, Albania has better weather and prices are about a quarter of those compared to it's better known neighbours. With direct flights from the UK, readily available mortgages and a safe legal system, Albania is destined to be the Next Big Thing in property investment. Get in now to make the most of this opportunity before prices rise.
With hundreds of millions of euros being invested in the country by the EU in preparation for EU entry in 2014 and NATO entry in 2008, investment into the capital city must be one of the safest and most lucrative investments in the world today.


Terranova translates to 'new area' and truly encapsulates the mood of the area. This is the latest exciting investment opportunity - exclusive to Barrasford and Bird Worldwide.
This unique development offers not only the highest standards of modern city living, but a fantastic way to maximise your investment. All from Just £29,000!



Terranova is situated in a new business district being constructed within the city centre.
In every country that has joined the EU, it has been the capital city that has experienced the highest property growth. Tirana should be no different. The picture to the right is a view from the top of Terranova showing it's central location.


Terranova is a residential complex set in the vibrant and beautiful surroundings of Tirana, which is currently benefiting from a rapidly developing economy.
The development has been created with the fast expanding, affluent middle class sector in mind, with it's demand for top quality property in the right location.
























Located just 400m from the new Tirana link road, Terranova is provided with excellent transport links to the city and the recently opened International airport.
Flights are readily available from the U.K. With BA, BMI, Malev-Hungarian Airlines, Lufthansa, Alitalia all offering regular services to and from the U.K.





Due for completion in January 2008, Terranova provides the opportunity to invest in a one, two or three bedroom property set against the backdrop of a rapidly growing City, experiencing strong levels of growth.
The City offers a wide variety of food and entertainment. Pictured left is a view from the Taivan restaurant of the stunning Tirana city.

Terranova has been carefully designed to provide a perfectly balanced lifestyle for its residents and an unbeatable opportunity for investors.
The Terranova Residence is a freehold mixed use building consisting of commercial and residential areas with a total of 10,000m².

The building will comprise commercial units, secure parking, and a mixture of 1, 2 and 3 bedroom apartments. The ground floor will be allocated to the commercial units and will provide a mini market, laundry services, bars and a restaurant. The Underground floor will provide 50 secure parking spaces.


Financial Figures
Using price rises experienced by Sofia and Budapest in the years before they joined the EU as a guide, it should be relatively safe to assume a 100% capital appreciation in a maximum of three years, this is especially likely due to the location of Terranova and the infrastructure already being developed in the surrounding area.
Example property Price : £28,500 for a 75Sq.m one bed apartment
Purchasing Costs
40% initial payment = £11,400
1% Notarial tax = £285
Furniture package including air con = £3500 (optional)

Ongoing Costs per annum
Utility bills = approx £300 per annum
Mortgage interest of 6% on 60% of the purchase price = £1026
Maintenance over three years = £622
So total costs for three years = £19,785
Income
Rental yields of around 5% are realistic in Tirana, income = £4,275.
Anticipated new property value = £57,000
So total income over three years = £61,275
However, when selling a property in Albania, there is a 3% tax on the £57,000 selling price, meaning the total received would be approximately £59,565.
Therefore if prices do double in three years you can receive £59,565 from your initial £19785.
Even if you achieve no rental return and the price only goes up by 50% in three years, you could still achieve £43,604 from your initial £19,785 investment!
However, of course property prices can go up as well as down and rental occupancy can fluctuate, you just need to make an informed decision and measure the possible negatives as you perceive them against the possible gains.
Finishing
Each apartment will be supplied finished with ceramic tiles and electrical connections ready for installation. The bathrooms will come complete with porcelain fittings with chrome taps and pipe work. There will be an electrical Boiler fitted in each apartment.
All apartments are available unfurnished. Furnishing packages are available, please contact Barrasford and Bird Worldwide for more information on: 0845 600 1871.
Maintenance

Maintenance charges are set to be €3 per square meter (including VAT) per year. This will cover the upkeep of all common areas and landscaping of the grounds.
Prices

In total, Terranova will offer 3 types of apartment;

Apartment Type - Size Sqm. From - Prices From £
Underground Parking - N/A - 5,200
One Bedroom Apt - 75.17 - 28,800
Two Bedroom Apt - 102.18 - 40,200
Three Bedroom Apt - 114.82 - 45,100

The above prices include VAT. Please contact us for further information at info@bandbw.co.uk.
Resort Completion Scheduled for January 2008
Payment Terms
40% Initial payment
60% Upon Completion *
*Mortgage options are available for the final payment. Please contact Barrasford and Bird Worldwide for more information on 0845 600 1871 or email us at info@bandbw.co.uk

For current availability or to reserve your very own property in Albania, please contact us on (+44) 0845 600 1871, or e-mail us.