Tirana
*
Space Measurement Standard
Space Unit of Measure
EUR Convert
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- ALL - Albanian Lek
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Financial Data Currency[1]
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
Ease of Doing Business – How conducive is the regulatory environment to starting and operating a business. Source: The World Bank, Doing Business – 2020
Labor Cost – Wages for skilled office workers. Source: Global Wage Index, Hickey & Associates 2020
Taxes – Favorability of taxation policies to business. Source: The World Bank, Doing Business – 2020
Tenant Favorable – Assessment of the real estate market condition for office space. Source: Colliers International
Typical Loss Factor
*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
Amount of Fit-Out Concession
€2/sm-€5/smTypical range of fit-out contribution.
Fit-Out Cost Notes:
10%-20%.Rent-Free Period
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
Lease Provisions
Lease Term
1yrs.-10yrs.Typical lease term in years.
Operating Expenses & Service Charges Included
Additional Charges
€1/sm-€3/smEstimated range for all additional charges per Square Meters.
Additional Charges:
Lease Fundamentals: The following apply to both office and industrial leases.
Lease Execution Requirements:
Requirements Notes:
Security deposit of 3 months.Negotiated Subletting/Assignment
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
Landlord Consent: The Landlord's consent is still required.
Blend & Extend Strategies
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
Negotiated Early Termination
Early Termination Notes:
It is a statutory termination right unless otherwise stated in the lease agreementTypical cost: 3-6 months of the rental guarantee cased on the length of the contract
Obligations Upon Lease Expiration
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/employeeTirana market is behind.
Desk Sharing
Desk Sharing Notes:
For BPOsUrbanization of the workforce is: Equal to several other considerations driving location decisions
Industrial Occupier Market Condition
Ease of Doing Business – How conducive is the regulatory environment to starting and operating a business. Source: The World Bank, Doing Business – 2020
Labor Cost – Wages for manuafacturing and warehouse/distribution office workers. Source: Global Wage Index, Hickey & Associates 2020
Taxes – Favorability of taxation policies to business. Source: The World Bank, Doing Business – 2020
Tenant Favorable – Assessment of the real estate market condition for industrial space. Source: Colliers International
Landlord Concessions
Fit-Out Concession
Rent-Free Period
Payment of Fees/Commissions
Lease Provisions
Lease Term
1yrs.-5yrs.Typical lease term in years.
Operating Expenses & Service Charges Included
Additional Charges
€1/sm-€2.5/smEstimated range in total for all additional charges per Square Meters.
Additional Charges:
Lease Fundamentals: The following apply to both office and industrial leases.
Lease Execution Requirements:
Requirements Notes:
Security deposit of 3 months.Negotiated Subletting/Assignment
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
Landlord Consent: The Landlord's consent is still required.
Blend & Extend Strategies
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
Negotiated Early Termination
Early Termination Notes:
It is a statutory termination right unless otherwise stated in the lease agreementTypical cost: 3-6 months of the rental guarantee cased on the length of the contract