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Albania Set To Become Major Tourist Destination

News Posted On: 14 July 2011

Albania looks set to become a major tourist destination within the next few years, and this is causing a surge of interest from investors who wish to buy now before prices increase. The country is due to join the European Union in 2014, and in the past this has caused a property prices to increase in newly joined countries such as Montenegro and Croatia.

Some 1.2 million tourists visited the country during the first six months of this year and revenue increased by 8.5% during these months compared to the same period last year. The majority of tourists were European, with 34% coming from Kosovo, 16% from Macedonia and 10% from Montenegro. Visitors from Greece accounted for 8%, while visitors from Italy and Germany accounted for 6% and 3% respectively.

These figures are likely to change substantially once Albania joins the EU. The country has all the necessary attributes for an attractive tourist destination, including a low cost of living, reasonable infrastructure and natural beauty. There seems to be no conceivable reason to doubt that the Albanian property market will not benefit substantially from EU membership. Certainly there has already been increased interest from overseas buyers, as many are waking up to the fact that now is the perfect time to purchase property, as opposed to waiting when price increases have already taken place.

At the moment it's possible to buy a studio in a luxurious resort with a wide range of amenities for around €29,000, which offers buyers the chance to own a second property in the sun, or to profit from owning a buy to let property abroad.

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