Property Rights

Property rights issues are still considered today a major concern regarding the general development of the Albanian economy and especially the investment climate. Reform of property rights is a cross-cutting issue for consolidating the rule of law and for fostering investment and economic development. Uncertainty over property ownership remains one of the main obstacles to private-sector development, and a strong barrier for foreign investors. The protection of property rights needs to be further strengthened, including through reviewing the 2012 property reform strategy and strengthening security of legal ownership.

The digitalization of information provided by the Immovable Property Registration Office has not yet been completed. Real estate market is constantly facing various challenges that in a considerable number originate from the lack of a clear functioning administration system of immovable property rights. The system of immovable properties it is not yet coordinated with the databases of other public institutions.

On the other side, many unresolved cases of land property ownership are waiting to be processed from the Albanian judicial authorities, while the number of cases addressed to the European Court of Human Rights is increasing. Deteriorating is also the indicator of ease of registering a property. In Albania, it takes 22 days to register a property title, and while this time duration remains unchanged compared with a year ago, the cost of registering a property has increased significantly from 9.9 per cent of the property price for last year to 10.2 per cent this year.

Investment Council is supported by the Ministry of Finance and Economy, the EBRD and the Swiss State Secretariat for Economic Affairs (SECO)