Buying Property in Albania
If you are a foreign investor of property abroad, then you have probably looked into the country of Albania to buy property. If you have done this then you will know that Albania is one of the poorest countries in Europe and therefore property can be extremely cheap.
It may be hard to believe that Albania is so poor, as its location really predicts the opposite. The country is located in a beautiful part of Europe with a fantastic position that has a coastline of the Adriatic Sea. As well as this, the southern part of the country is only a very short ferry ride from the popular Greek island of Corfu. This is an island that has a booming tourist industry and has many resorts and hotels in which tourists from all over the world stay in.
However, the main reason for Albania being so low on tourism is more than likely due to its history. The country has a history in which there was an extreme dictatorship and communism and it is said that these are the main reasons for foreign buyers being put off the country. Of course, like many countries that are aiming to join the European Union, things are changing, although it seems they aren’t changing as past as people might like.
Having said this, the economy is developing in Albania and there are now certain places of the country in which buying property could certainly see a good return on an initial investment. A lot of people still believe that it is too early to consider investing in the country, however, places like the capital city Tirana are slowly becoming a great place to invest in. There are hundreds of new resorts planned in the year of 2010 and some of them have even begun being built already.
Although the country is becoming much more stable, you should still be extremely careful when investing in Albania, but if you are careful, there is certainly a lot of money to be made if you buy the right property in the right place.