Liam Bailey, chief market analyst for overseas property portal Property Abroad had this to say of the announcement:
"Albania has kind of taken a back seat in terms of media coverage of late, and that is not because it has been badly affected by the credit-crunch. Just last month a new international shopping mall was announced in the country, and the economy has largely continued on its path of steady sustainable growth. This is backed-up by this announcement that a property fund will spend 100million Euros between Albania and the rest of the Balkans. But that in itself will provide a massive boost to Albania's property market, even if only in bringing it back into the international spotlight -- not to mention the economic boost and the restoration of buyer confidence."
"The good thing about buying in Albania," continued Bailey. "Is that the economy is growing from a grass-roots level if you like, and the demand for housing from average Albanian's is growing steadily -- if not rapidly -- so buyers of off-plan property now, can look forward to a strong resale market when it comes time to realise their gains."
Property Abroad have some excellent properties in Albania, including the astonishingly good value Homeplan Residences in Tirana, where 1 bedroom apartments are available from just £42,000. Comprising of 1,2, and 3 bedroom luxury apartments, Homeplan Residencies is an off-plan development, located just a few minutes' drive from Tirana city centre. The development's completion is likely to put at least £20,000 onto the apartment's value, and after that appreciation should be in the region of 6-10% per year. As for rental yields, Tirana still isn't spectacular in that respect, because it does not a massive tourism market, but buyers of Homeplan Residence apartments can expect at least a 6% yield.
About Property Abroad
Property Abroad is rapidly growing into one of the best known, trusted and most successful overseas property portals in the U.K. With a slick dynamic site and very reasonable rates Property Abroad currently has among the most extensive worldwide property listings on the net.
To find out more contact Liam Bailey on liam@property-
Property Abroad LTD
182 York Road
Hartlepool
TS26 9EA
www.property-
