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Property for sale information

 
Fortesa Residence  
Reference nr: PG171056
Description:

Situated in the modern suburb of Kashar, approximately 4km from the centre of Tirana, the impressive Fortesa Residence offers one and two bedroom apartments in a modern stylish development from 42,974 Euros.

Following the success of Buildings 1 and 2, the Fortesa 3 and 4 buildings are the latest release in this large development. These two buildings consist of 73 apartments over 7 floors and are due for completion at the end of 2009.

The attractive and original concept / design of the Fortesa Residence has been realised by the most reputable architectural studio in Albania and will eventually house 240 apartments in a total area of over 40,000sqm. The development will incorporate parking on the lower ground floor, shops, bars and restaurants on the ground floor and offices and shops on the first floor with the apartments located from second floor upwards.

Situated at the entrance of the city and just 400m from the main Tirana / Durres highway, the development is aimed at young upwardly mobile professionals. The growth in population in Tirana and the developing economy has creating a rapidly emerging middle class and this emerging middle class is looking to improve their status by part by moving to new higher status apartment buildings such as the Fortesa Residence.

Suitable for buy to let investors in the dynamic residential property market of Tirana, apartments will be fully finished with central heating (independent meters and controls), tiled floors, painted walls, fully furnished bathrooms, finished kitchen without appliances, electrical sockets, cable TV and telephone connections.

Lifts will link all floors and there will be an ornamental garden in the elevated courtyard that is enclosed by the buildings,

Five key reasons to buy:

1. Albania's low inflation, budget surplus and stable government is attracting high levels of foreign private investment

2. EU Pre-accession Assistance will provide a total of €11 billion over the period 2007-2013

3. New roads are being built linking Vlora to Tirana and the new terminal that is already open at Tirana Airport increase accessibility

4. GDP Growing at a healthy 6% per year and set to accelerate

5. Just a 3 hour direct flight from the UK

Bedrooms: Bathrooms: Price (€):
1 1 42,974
2 1 55,720
Features:
Submission Date:
01-16-2008
Last Update:
07-09-2008
Advertiser Details:


Name:
Phil Grimes

Company:
Select Property Overseas

Phone:
0044 845 430 1404
Fax:

Mobile:
0044 7970 189967

 
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Calculators

 
Property price: €42,974
 

Mortgage

Initial Payment (%) *  Annual Interest Rate (%) *  Term of Loan (Yrs) 
   
Loan Amount (€)  Monthly Payment (€)  # of Payments 
 
Description: The calculator estimates monthly mortgage payments taking into account the loan amount (which depends on % of the initial payment), the interest rate and term of the loan
Note:
  * These indicators may vary in different countries and are subject to preliminary assessment & consultations

ROI

Initial Investment (%)  ROI Calculation Term (Yrs)  Term of Loan (Yrs) 
Annual Rental Yield (%) * Annual Capital Appreciation Rate (%) * Annual Mortgage Rate (%) *
Once Off Taxes & Payments on Property Purchase (%) * Taxes & Other Annual Payments on Rental Income (%) * Other Annual Fix Payments (€) *
   
Loan Amount (€)  Mortgage Payments (€)  Additional Costs (€) **
Capital Appreciation (€)  Gross Rental Income (€)  Return on Investment (%) 
 
Description: Return on Investment (ROI) calculator estimates in % the income that the Initial Investment provides in the period of time set in "ROI Calculation Term" input box
Notes:
  * These indicators may vary in different countries and are subject to preliminary assessment & consultations
** The Additional Costs are estimated as sum of once off payments (taxes, legal support and services etc.) required to become the owner of a property, annual payments from rental income (taxes, management fees etc.) and other fix annual payments (if any); all these payments vary in different countries, regions, properties etc. and are subject to preliminary assessment & consultations

Equity Rel.

Current Property Value  Existing Mortgage  Max. Lending Available (%) * 
Max. Equity Available  Amount to Release  Annual Interest Rate (%) * 
   
Monthly Cost of Top Up (Interest Only) 
 
Description: Equity Release is a means of retaining use of your property, while also obtaining a steady stream of income, using the value of the property; the income depends on current value of the property, amount to be released and paid annual interest rate
Note:
  * These indicators may vary in different countries and are subject to preliminary assessment & consultations