Terranova Residence

Tirana, Albania

About the Development

Due for completion in August 2008, apartments in the Terranova Residence provide the opportunity to invest in a one, two or three bedroom property set against the backdrop of a rapidly growing capital city which is currently experiencing strong levels of growth. Whilst in the building stage, all apartments are priced at between 570 and 690 Euros per sq m, a price that is expected to rise by 20-25% following completion.

The Terranova Residence is a new residential development set in the vibrant and beautiful surroundings of Tirana, located in a brand new suburb just 3.7 km from the centre of the city, the development has been created with the fast emerging, affluent middle class sector in mind, who are demanding top quality property in the right location.

The Terranova Residence is a contemporary scheme of one, two and three bedroom apartments in what 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 apartments are 400 m from the new Tirana ring road on the western side of the city with excellent transportation links and direct access to both the city centre and the new airport terminal that serves the country.

The Terranova Residence is a freehold mixed use building comprising commercial ground and lower ground and residential upper parts with a total of 10,000 m². The commercial areas comprise mini-market, laundry services, restaurant and bars on the ground floor.

Each apartment will be supplied finished with double glazing, ceramic tiled floors and electrical, telephone and TV connections. The bathrooms will come complete with porcelain fittings, chrome taps and pipe work and an electrical boiler will fitted in each apartment. Central heating and air conditioning are optional.

Five key reasons to buy

• Albania's low inflation, budget surplus and stable government is attracting high levels of foreign private investment
• EU Pre-accession Assistance will provide a total of € 11 billion over the period 2007-2013
• New roads are being built linking Vlora to Tirana and the new terminal that is already open at Tirana Airport increase accessibility
• GDP growing at a healthy 6% per year and set to accelerate
• Just a 3 hour direct flight from the UK