There has been a guest post on the blog of the real estate company called Property Frontiers that says that the Albanian property market has actually fared a lot better than in most countries during the recent economic downturn.

The post was by an Albania based estate agent and it explained that in particular, Tirana had actually done the best with a growth of 5% on prices during the year 2009 and it explained that this is expected to grow even further during 2010.

The rentals market was mentioned in the post too, and the firm explained that Tirana has some of the best yields with more than 10% being achieved. In most of the coastal towns the normal yield is around 7% meaning that Tirana is already achieving yields far higher than average and with the holiday season now in full swing, this is expected to get even higher.

It was also said on the post that the rental management sector is extremely new to the Albanian country and that only new commercial projects in the country are providing management.

The post also commented on the security of the market saying that there is no longer the problem of illegal buildings being built in the country. It said that government authorities are putting more and more effort into making sure that these illegal buildings do not get built and that they will penalise the people building them rather heavily if they find them. It was also said that because this has been an issue in the past, people are being much more careful and not taking risks when it comes to buying property so there is less chance of people buying these illegal buildings.

Lastly, the post commented on the new developments that are being built this year. There are many new developments that are currently being built in the country with many more proposed for the future. Some of these have being held back due to a lack of funding, however, these are only the larger developments.

albanian apartment

This entry was posted on Tuesday, June 29th, 2010 at 8:34 am and is filed under Economy, News. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.