Albania’s EU ambitions alert long term investors

TIRANA, May 21 – Albania’s integration into world institutions, including NATO and the European Union, serves as a green light to international property investors turning their eyes to Albania, still considered as the last property hotspot in Europe.
Overseas real estate experts advise clients that the Western Balkan state of Albania is a potential property hotspot, which is especially dependent upon the country’s accession to the European Union (EU). The benefits of EU membership, which take the form of grants and loans even prior to membership, have been seen in countries such as Bulgaria and Montenegro.
Both entered periods of strong property price growth, accelerated by a boom in activity by foreign investors, upon entry into the EU.
The inclusion of Albania and the rest of the Western Balkans into the EU has now been set as a priority by enlargement officials and, although the road to full membership may be long, property investors looking to the long term have the opportunity to enter the market while prices are low.
Bordering Greece, Albania has a long Adriatic coastline. The country remains one of the poorest in Europe, though there are increasing signs of economic progress.(Tirana Times Staff)