Investment Council discusses Property Issues with FIAA Members

Investment Council discusses Property Issues with FIAA Members

April 17, 2019
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The Property Issues were at the focus of a discussion Meeting during a round table with several Members of FIAA and Investment Council Secretariat. The discussions intended to address property-related issues from the investors’ point of view and the respective legal certainty that the investors should have in Albania. Most of the identified concerns were related to:

  • High Opportunity of Social Conflicts and Overlapping of Ownership Titles;
  • Failure to develop a structured agricultural market and the lack of an insurance scheme;
  • No access to Financing (Grants / Credits) by the owners;
  • Very Low Property tax related to income;
  • Reduced opportunity for land consolidation and agro-business development;
  • High unemployment at the regional and national level due to lack of investment;
  • Very low level of Foreign Direct Investments in the property/land sector.

Among the main recommendations given for bringing up a safe system, for Owners, Investors, Local Government Units, Central Government and the State Cadastral Agency were:

  1. Update and Improvement process of the properties based on a prioritization of zones,   areas for Tourism, Energy sector, Agriculture/rural investments.
  2. Registration of all Rural Ownership Acts, legalization of the factual situation (without involving the Owners , but with the institutional coordination itself)
  3. Registering of all public properties, based on the relevant Decision of Council Ministers, on behalf of Municipalities and LGUs.
  4. Providing accurate data of the properties,  part of investments  as per  Sectorial Strategy of Tourism, Energy and Agriculture,  before entering in Procurement procedures.

Other discussions will follow in the upcoming months with involvement of different stakeholders for a better approach with relevant Institutions.