albania property a hot investment tip for 2009
News Posted On: 04 August 2009
Albania property is one of the best overseas property investments for 2009 according to well known overseas property expert Liam Bailey.
After complimenting the Albanian government's economic prowess, Bailey writes on his overseas property blog:
Albania property is very much a long-term investment; I have no doubt that in time the property being bought off plan now for £50k, will be resold for 3 times that amount, but this will only be when the local population can afford to pay that for quality housing, which may be 10, 15 or maybe even 20 years down the line.
Les Calvert, director of overseas property portal Property Abroad.com concurred with his statements, he said:
"Liam said that you can get a high quality 2 bedroom apartment in Tirana for just over £50k; we have 2 bedroom apartments in Tirana for £44k. Our Albania properties start at just over £20,000 for 1 bedroom luxury apartments in Vlore, Saranda or Tirana. Tirana is the shortest term investment, where we believe properties will grow in value by between 100 and 200 percent within 10 years, Vlore and Saranda must wait on the development of their tourism sectors which may be fast or slow."
Albania is scheduled for EU membership in 2014, this will boost the economy and the property market massively. EU entry may prove to be especially beneficial to the tourism driven markets of Vlore and Saranda, which could see increased visitor numbers and thus increased rental yields and greater potential for capital appreciation.
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