albania one of best emerging markets for property investment
News Posted On: 29 September 2009
Albania has been named one of the top 3 emerging markets for property investment by well known overseas property expert Liam Bailey.
Bailey cited the country's excellent economic track record and bright future, coupled with the affordable property suited to both international buyers and locals as the main reasons that Albania is one of the best emerging markets in which to make a property investment.
As Bailey also mentioned, Albania is currently proceeding towards becoming a full member of the European Union in 2014. The recent elections were a big step in this process, and while there have been some sniping from the various opposition parties there have been no problems reported officially by EU observers.
Last week saw the new cabinet sworn in and this week, and yesterday saw Albanian Prime Minister Prime Minister Sali Berisha address the United Nations on the type of reforms his country is making to successfully become an EU member.
He cited important investments in infrastructure and the favourable business climate Albania has created. Berisha also described protective measures his government has launched against the global economic crisis.
EU membership would be a massive boost to the Albanian economy, the tourism industry and the property market.
Albania became very popular with overseas property investors towards the end of 2007 and into 2008. Unfortunately the international downturn set in shortly after and stunted Albania's growth. There is a real sense now that the worst is over and people are out there looking for bargains. Something that there is no shortage of in Albania.
Whereas it used to just be Tirana and Saranda, international buyers can now find property in Vlora and Duress at excellent prices.
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