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Albania is one of the poorest countries in Europe. Given its position on the Adriatric Sea with all the natural beauty, that fact is simply amazing. But it's true. It's even more incredible that the southern part of Albania is a very short ferry ride from Corfu - with all its decadent resorts. An extreme dictator and communism are responsible for the predicament of Albania, and as you might expect things are changing (though not as quickly as most other East European countries).
The economy is steadily developing in Albania. For most people it's probably just too early to buy property in Albania for investment - and given the stakes are high one has to be VERY careful. Tirana and the coast are the most likely avenues for investment. Some promising signs include Balkan Holidays now taking bookings for two centre holidays to Albania (Durres in the north) and Montenegro, flying from the UK. Also, BA fly to Tirana from London.
Lonely Planet Guide to Albania Ask a ProfessionalThere are investment prospects in Albania, but it is essential that you seek independent expert professional advice before undertaking any property purchase. There are lots of things to bear in mind, including local laws and regulations, taxes, surveyor's assessments of the building, financial currency exchange, dealing with interbank transfers, volatity of the housing market, etc. etc. In some countries there are various restrictions on foreigners owning land or property, so this needs to be checked out fully. Any property purchase is a major undertaking. It may seem obvious but it's well worth going on holiday to a country several times to see if you like it.
Surge in InterestThe interest in purchasing property abroad has increased at an amazing rate in the past five years, fuelled in the UK by a booming domestic housing market making overseas properties seem good value for money. Also, TV programmes like Channel 4's `A Place in the Sun' have made everyone realise that owning a property abroad is no longer just for the rich and famous. People are interested in purchasing a home overseas for a variety of reasons - enjoyment, investment, a new life, retirement, and more.
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