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Albanian Property Market Given A Boost By Ba

News Posted On: 28 July 2011

British Airways has recently increased the frequency of flights to the Albanian capital Tirana, and now flies direct every day. This is a great improvement on its previous schedule where flights were available for four days of the week, and is apparently in response to increased demand from tourists wishing to visit the Balkan country. British Airways has also reduced its ticket prices to the capital, and a return ticket currently starts at just €217.

The Deputy Minister of tourism for Albania, Suzana Turku has just announced that tourism figures for the first six months of this year have increased by 8.5% year-on-year, and that 1.2 million tourists visited the country between January and June.

Developers are hopeful that Albania will become far more popular as a tourist destination over the next few years due to improved infrastructure and low cost of living, and that this will have a knock-on effect on the demand from international investors. There are already signs that people are buying second homes here, as the country is due to join the EU in 2014, and if its property market performs in the same way as other recent EU members, then property prices should increase substantially.

At the moment property here is probably the cheapest in Europe, and it is possible to buy a brand-new studio apartment in a five-star resort such as Lalzit De Resort & Spa for just €29,000. However the time to buy is definitely right now, as prices cannot remain this low for much longer.

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