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SOLD OUT!! - PALMA APARTAMENTS - Durres beachfront - new property release! Project with pool, gym, sauna, beach front with full sea views, prices from only £26K (€33,000). ATTENTION - 50% ALREADY SOLD!!!
12/05/2009 - 15:10
The complex is the first of its kind in the Durres Region offering luxurious studios, one and two bedroom apartments, large indoor swimming pool (20 x 12m), gym/fitness centre, sauna and Turkish style baths, shopping centre, restaurant and bar, all within the residence! Bordering with the sand the property is ideal for holiday use and as an investment.

SOLD OUT! The complex comprises of underground car parking, level one and two commercial units, level three (swimming pool, fitness centre, sauna and some apartments) and three levels of residential units.

This project appears to be a great investment as the prices of one bedroom apartment start from as little as €33,000 which leaves a great potential for capital growth in the next few years. 

Due to very close proximity to the international airport and capital city Tirana the resort will have all year rentals which will be managed by our company.

As there is huge demand by foreigners for complex with such a great facilities and the fact that is located on the seaside will guarantee that it will sell very quickly.

The complex is being built to european standards and all materials are laboratory tested with certificates.

Furniture packages from 3,600 euros including kitchen units, furniture, white goods, delivery and free installation. Also air-conditioning costs only 800 Euros including installation.

Legal fees from 800 Euros including, notary, brokerage, taxes and property registration.


Investment Overview

Prices from just 700-750 euros/m2!

Great buy-to-let or holiday use opportunity,

Off plan beachfront development – delivery in 24 months (Spring 2010)

Rental yields (gross, including parking) expectations up to 7%

Massively undervalued market – 40% of some comparable markets!


No Purchase tax

The last emerging market in Europe

Expected capital growth of 30% per annum – with prices set to double over the next 3 years

Excellent beach location!!

Large swimming pool, sauna, gym, Turkish baths

Car parking from 8500 Euro                                              

20 minutes from International Airport

25 minutes from Capital city

Fantastic public transport (bus stop behind the complex and train station few minutes away)

The development location:

The new development we have secured is located in Durres Beach front line with the sea in the District of Beach Road, Durres.

Such an opportunity will not be available in the future in the Durres Beach due to the entire frontline is already occupied and built up and this plot is one of the last plots which will be used for this fantastic Complex.

Durres Beach Resort/Complex:

The complex is the first of its kind in the Durres Region offering luxurious studios, one and two bedroom apartments.

A large 240m2 swimming pool (20 x 12m) located on the third floor of the complex with open views to the sea and covered with glass with all facilities included which can be used in the winter also.

Gym-Fitness Centre – Fully equipped, Sauna-Turkish style baths (all on the same level), Shopping Centre, Restaurant, Bar and many more, all within the resort!

The complex comprises of underground car parking, level one and two commercial units, level three (swimming pool, fitness centre, sauna and some apartments), and fourth to sixth levels residential units.

We have huge demand for such facilities from locals as well as foreign investors and visitors.

Due to the very close proximity to the Airport and Tirana, plus the benefit of offering all facilities and incredible sea views the resort is expected to have all year rentals which are managed though us also.

The complex is being built to EU standards and all materials are laboratory tested with certificates. Building is designed with Hydro and Thermo Isolations.


Payment structure:

40% is paid when pre-contract is signed, normally within one month from the reservation date.

30% is payable on shell/skeleton stage (expected in summer 2009). This payment and the remaining deposits can be financed if you wish, subject to status – we will get the mortgage process up and running and ensure is all in place in time.

20% is paid in the last quarter of 2009. This is the time that the apartments are plastered, tiles and nearly completed. (This can also be financed) Delivery is expected second quarter of 2010.

10% is paid only when full property title is transferred under buyer’s names. In Albania full property titles are issued after the property is completed which can take up to six months from the completion date.


How Numbers Work

Buying costs on completion – Air Con 800 euros, Kitchen and furniture package approx 3600 euros

Total legal, notary costs – just 800 euros

200 euros electricity and water connection

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