General Facts

  • Total area: 28,748 sq. km, coastline 362 km
  • Coastline bordering the Adriatic and Ionian Seas
  • System of government: Parliamentary democracy
  • Head of State: President, elected by parliament every five years
  • Currency: Albanian Lek (ALL)
  • Official Language: Albanian
  • International telephone prefix: + 355
  • Population: 3.64M (est. July, 2009)
  • Median age ~ 30 years
  • Life expectancy at birth 78 years
  • Albanian capital: Tirana with 850K – 900K inhabitants

Additional Albanians in:

  • Kosova (88%) =>1.87M
  • Macedonia (25 %) => 0.52M
  • Total Albanians in the region ~ 6 million

Natural resources:

  • Mining: chromium, copper, iron ore, nickel, bauxite
  • Petroleum, natural gas, coal
  • Limestone, salt, timber
  • Water

Vision & Strategic Goals by the Government

  • To be the most attractive country for foreign investment in the region

Package of measures to encourage investments

  • Move quickly towards a more open and liberal model
  • Paving the way for European Integration
  • Parliamentary Democracy
  • Albania to become a member of the EU by 2014-15
  • An agreement was signed in 2006 to enter into the EU
  • Association process, and pending ratification from the 25 member states

Credit insurance rating:

  • Political Risk: 3 (1 = best; 7 = worst),
  • In global financial market: B1, Moody’s classified as a country of “stable outlook”, (Dec., 2009)
  • The enactment rule of law is foundation of free society
  • All new laws are in accordance with western standards

Albania Property Guide

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