Albania Welcomes Christie’s International Real Estate

The south-eastern European nation of Albania is emerging as a luxury destination, attracting a steadily increasing cadre of tourists, investors and developers enticed by its pristine Mediterranean beaches, rugged mountains, welcoming culture and stable economic and political climate.

As interest in the country grows, luxury real estate brand Christie's International Real Estate announces its expansion into Albania. Headquartered in the Albanian capital of Tirana, the new office will offer residential brokerage, new-construction development sales and marketing, property management and investment consulting.

The firm will be led by long-time broker Kris Maranda and developer Dhimiter “Jim” Kondakciu, one of the leading figures in Albania’s real estate community. As an affiliate of Christie’s International Real Estate, The Maranda Real Estate Group/Christie’s International Real Estate’s agents and clients will benefit from national and international exposure through the brand’s global luxury network, which has affiliates in nearly 50 countries and territories.

In recent years, Albania’s luxury property market has accelerated sharply, with homes in the capital of Tirana and coastal resort areas commanding prices up to USD$5 million, and condominiums fetching USD$4,000 to $5,000 per square meter at the high end. As further evidence of burgeoning interest in the country, the United Nations World Tourism Organisation recently ranked Albania as the fastest growing tourist destination in Europe.

The influx of new development is especially evident along Albania’s southern coast, home to many of the country’s most picturesque beaches. Currently under construction on the half-moon shaped bay of Jale Beach and represented by The Maranda Real Estate Group, Folie Village offers carefully curated luxury villas and apartments with stunning views of the Ionian Sea, known for its intensely azure blue water.

Additionally, plans are underway to turn one-time military base Sazan Island into a luxury eco-community featuring an Aman-branded resort. “Buyers and investors from around the world are starting to take notice of everything Albania has to offer, making it an incredibly exciting time to enter the real estate market,” said Maranda of the move.

“Given the current market conditions and its incredibly beautiful landscape, Albania is poised to be south-eastern Europe’s next luxury hub,” added Helena Moyas de Forton, managing director, head of EMEA and APAC at Christie’s International Real Estate.