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Terranova, Tirana The Terranova Residence is a contemporary City style development of 1, 2 and 3 bedroom apartments and forms part of the UNAZA new quarter which is currently undergoing selective development and has been designed to be an up-market yet affordable area of Tirana. The development offers a perfectly balanced lifestyle for its residents and an unbeatable opportunity for investors. The Terranova Residence is a freehold mixed use building comprising commercial ground and lower ground and residential upper parts with a total of 10,000m2.
This development is designed for the growing mid-market sector of the residential market. The developing economy of Albania and Tirana in particular has witnessed a high demand for quality residential accommodation. Investors can take advantage of this emerging population who wish to improve their status through moving to new higher specification apartment buildings. Location The Terranova Residence is built on a plot situated at 400m from the new Tirana ring road and the Kavaja Street, this being one of the two main access roads in to Tirana. Situated next to the new Tirana ring road, the development is aimed at young upwardly mobile professionals. This infrastructure also brings more and more visitors, both tourist and commercial Tirana giving excellent growth prospects as Tirana's economy is flourishing, with a strong local rental market Tirana is proving a very successful investment area.
Click here to see a map of the area. Construction Schedule Terranova Residence is scheduled for completion during June 2008. Facilities And Maintenance • 24 hour security
• Garages for sale
• Maintenance is charged at €3 per square metre Payment Terms We have a refundable reservation fee policy which enables you to hold an apartment for up to 28 days without actually committing to the purchase. This enables you to view the development and do further due diligence prior to signing your contract and paying your first instalment. The reservation fee is only refundable if the client views the property for sale in the development with us within the 28 day period. Only 10% of your reservation fee is retained by us as an administration charge. We will accept verbal reservations which are valid for 72 hours. The refundable reservation fee is €3,000 and should accompany a signed reservation form which is available upon request. This reservation fee is deducted from your first instalment. After 28 days of receipt of your reservation form and cheque, the reservation fee becomes non-refundable.
60% on signing the purchase contract (less reservation fee).
40% upon completion. Property Management The developer has a complete property management scheme in place and will cover:
• Rentals
• Key Holding
• Cleaning
• Inventory Management About the Immediate Vicinity Albania is in the heart of the Mediterranean, nestled between Greece, Macedonia and Montenegro and bordered by the Adriatic and Ionian Seas. Albania with the most beautiful turquoise seas, rivers, lakes and lovely beaches backed by snow peaked mountains, is still relatively unspoilt and is about the same size as Belgium and has a population of around 3.5million. Almost one third of the country is forested and very rich in flora with many of the plants used for medicinal purposes. There are also a large number of lakes, the more significant being Lake Ohrid in the more tourist areas in the south eastern part of Albania, Lake Shkodra, being the largest, where thousands of cormorants winter here each year and Prespa Lake which is distinguished by its solitude and beautiful landscapes. These lakes are between 2 and 4 million years old and unique is species of fish which have evolved in them.
The capital city of Tirana is in central Albania on the Ishm River. It is the largest and the most commercial and cultural centre of the country and so compact that it is best explored on foot. It has a large Italian architectural influence as well as Turkish Monuments, lying exactly between Rome and Istanbul. Major products include textiles, metal goods, agricultural machinery and processed food. The Skenderberg Square is a huge open space in the centre of the city, while Mount Dajti, at 5,030ft, towers over the eastern side.
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