Tirana
*
Space Measurement Standard
SQMT
SQFT
Space Unit of Measure
EUR
- Convert currency to:
- ALL - Albanian Lek
- ARS - Argentine Peso
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Financial Data Currency
Yes
Transfer Taxes
Notes:
*No international Space Measurement Standard applicable, local standard is applicable, but measurement can vary from developer to developer.Office Occupier Market Condition
1,1,1
Occupier Market Conditions – How conducive is the regulatory environment to starting and operating a business. Source: Colliers
Labor Cost – Wages for skilled office workers. Source: City Globe and Colliers
Tenant Favorable – Assessment of the real estate market condition for office space. Source: Colliers
Quadrant Legend: Blue = Favorable Medium Blue = Neutral Red = Less Favorable
Typical Loss Factor
20%From rentable to useable square meters
Loss Factor Notes:
*For residential buildings the report is 90-10%, for shopping centers it is 75-25% and for business centers it is 80-20%.Landlord Concessions
Fit-Out Concession
The Landlord typically provides a contribution or concession to fit-out as a part of the lease transaction.
Amount of Fit-Out Concession
€2/sm-€5/smTypical range of fit-out contribution.
Fit-Out Cost Notes:
10%-20%.Rent-Free Period
The Landlord typically does not provide a rent-free period in addition to the fit-out contribution.
Rent-Free Period Notes:
The rent-free period is given to the tenants during the time of fit-out. Other than that, they don't give out rent-free periods.Payment of Fees/Commissions
The Landlord typically pays the tenant rep broker’s fee.
Lease Provisions
Lease Term
1yrs.-10yrs.Typical lease term in years.
Operating Expenses & Service Charges Included
Quoted market rent typically does not include operating expenses (service charges). There are additional charges that apply to leasing space.
Additional Charges
€1/sm-€3/smEstimated range for all additional charges per Square Meters.
Additional Charges:
Utilities
Service Charges
Stamp Duty
Electric
Rates
HST
Cleaning
Hydro
Registration Fees
Taxes
Insurance
VAT
Other
Lease Fundamentals: The following apply to both office and industrial leases.
Lease Execution Requirements:
Typical upfront requirements
None for strong credit tenants
Upfront rental payment
Security deposit
Corporate guarantee
Not Applicable
Requirements Notes:
Security deposit of 3 months.Negotiated Subletting/Assignment
Typically, the tenant's right to sublease or assign the space is negotiated in the lease agreement.
Landlord Consent: Typically, the landlord's written consent IS still required.
Landlord Consent: Typically, the landlord's written consent IS still required.
Negotiated Subletting/Assignment Notes:
This depends on the lease agreement and relationship between the landlord and tenant, but mostly it is allowed.Statutory Subletting/Assignment
This IS a statutory right.
Landlord Consent: The Landlord's consent is still required.
Landlord Consent: The Landlord's consent is still required.
Blend & Extend Strategies
Typically, a tenant can take advantage of "blend & extend" ("forward renewal", "early renewal", etc.) strategies when the appropriate market conditions exist.
Blend & Extend Notes:
Early renewal is possible as specified in the lease agreement, but typically 3-6 months prior to contract expiration.Statutory Early Termination
This IS a statutory termination right.
Negotiated Early Termination
It IS typical for tenants to be able to negotiate an early termination right in the lease agreement.
Early Termination Notes:
It is a statutory termination right unless otherwise stated in the lease agreementTypical cost: 3-6 months of the rental guarantee based on the length of the contract
Obligations Upon Lease Expiration
Basic broom clean condition and removal of special installations.
Dilapidations.
Complete restoration to shell.
Other
Tenant Obligation Notes:
This can depend on the lease agreement. It can be as easy as clean up, but it can also be returning the space to its original condition, which means removal of furniture but also particular to the tenant installations.Workplace
Workplace Notes:
We have not conducted such studies in Albania and no such data exists, so sqm/employee depends very much on the employer's side. The lowest sqm available would probably be for BPOs at 3 m/employeeDesk Sharing
Desk-sharing is a common practice in the market.
Desk Sharing Notes:
For BPOsIndustrial Occupier Market Condition
1,1,1
Occupier Market Conditions – How conducive is the regulatory environment to starting and operating a business. Source: Colliers
Labor Cost – Wages for manuafacturing and warehouse/distribution office workers. Source: City Globe and Colliers
Tenant Favorable – Assessment of the real estate market condition for industrial space. Source: Colliers
Quadrant Legend: Blue = Favorable Medium Blue = Neutral Red = Less Favorable
Landlord Concessions
Fit-Out Concession
The Landlord typically does not provide a contribution or concession to fit-out as a part of the lease transaction.
Rent-Free Period
The Landlord typically does not provide a rent-free period in addition to the fit-out contribution.
Payment of Fees/Commissions
The Landlord typically pays the tenant rep broker’s fee.
Lease Provisions
Lease Term
1yrs.-5yrs.Typical lease term in years.
Operating Expenses & Service Charges Included
Quoted market rent typically does not include operating expenses (service charges). There are additional charges that apply to leasing space.
Additional Charges
€1/sm-€2.5/smEstimated range in total for all additional charges per Square Meters.
Additional Charges:
Utilities
Service Charges
Stamp Duty
Electric
Rates
HST
Cleaning
Hydro
Registration Fees
Taxes
Insurance
VAT
Other
Lease Fundamentals: The following apply to both office and industrial leases.
Lease Execution Requirements:
Typical upfront requirements
None for strong credit tenants
Upfront rental payment
Security deposit
Corporate guarantee
Not Applicable
Requirements Notes:
Security deposit of 3 months.Negotiated Subletting/Assignment
Typically, the tenant's right to sublease or assign the space is negotiated in the lease agreement.
Landlord Consent: Typically, the landlord's written consent IS still required.
Landlord Consent: Typically, the landlord's written consent IS still required.
Negotiated Subletting/Assignment Notes:
This depends on the lease agreement and relationship between the landlord and tenant, but mostly it is allowed.Statutory Subletting/Assignment
This IS a statutory right.
Landlord Consent: The Landlord's consent is still required.
Landlord Consent: The Landlord's consent is still required.
Blend & Extend Strategies
Typically, a tenant can take advantage of "blend & extend" ("forward renewal", "early renewal", etc.) strategies when the appropriate market conditions exist.
Blend & Extend Notes:
Early renewal is possible as specified in the lease agreement, but typically 3-6 months prior to contract expiration.Statutory Early Termination
This IS a statutory termination right.
Negotiated Early Termination
It IS typical for tenants to be able to negotiate an early termination right in the lease agreement.
Early Termination Notes:
It is a statutory termination right unless otherwise stated in the lease agreementTypical cost: 3-6 months of the rental guarantee based on the length of the contract
Obligations Upon Lease Expiration
Basic broom clean condition and removal of special installations.
Dilapidations.
Complete restoration to shell.
Other
Tenant Obligation Notes:
This can depend on the lease agreement. It can be as easy as clean up, but it can also be returning the space to its original condition, which means removal of furniture but also particular to the tenant installations.Project Management
Section 1. Fit Cost Data
Total Fit-Out Cost
Total Fit-Out Cost Notes:
The fit-out cost refers to the total cost of design, construction, and installation for a space. It includes categories such as materials, labor, furniture, fixtures, equipment, finishes and other related costs. The specific factors influencing the total fit-out cost can vary widely depending on the project scope, location, size of the space, quality of materials, and complexity of design.Section 2. Scope of Work Description
Phase 1: Services Before and During the Transaction
Phase 2: Service Before and During the Design Process
Phase 3: Services Before Construction
Phase 4: Services During Construction
Additional Services: Services During Relocation
Additional Services: Project Management Services Related to Furniture/Workstation Procurement
Operating Environment Rankings reported on a scale of 1 (least favorable) to 10 (most favorable).
Human Capital
7, 3
7/10
High School Education Equivalent
Proportion of population attaining this level
5, 5
5/10
University Education Equivalent
Proportion of population attaining this level
6, 4
6/10
Overall Education
Composite average of High School & University
6, 4
6/10
Human Capital Composite
Business Climate
2, 8
2/10
Innovation
Presence of innovative factors in economy
4, 6
4/10
Business Environment
Friendliness of business environment
6, 4
6/10
Corporate Tax Rate
Favorable corporate tax rate
4, 6
4/10
Business Climate Composite
Operating Environment Composite
5, 5
5/10
Combined average score of Human Capital and Business Climate factors
