Albania still a target of investment in real estate market

TIRANA, March 10 – International companies continue to orient their possible clients to the real estate properties in Albania.
Albania, like all countries with EU entry on the horizon, has great prospects for property investment. But Albania has had one of the most effective fiscal systems of government of all the Balkan states; enjoying solid economic growth for the last decade, and making a series of excellent fiscal and economic reforms during that time.
For Albania the chance of becoming a member of the EU is only a boost to its economic potential.
Albania’s economic and fiscal reforms successfully brought a quarter of the poorest in the population out of poverty between 2002 and 2007, which then led to the World Bank upping Albania to a middle income country in 2007. This meant Albania became eligible to apply for loans from the World Bank and other sources for infrastructure development as opposed to relying on grants.
The credit crunch has slowed everything down, but Albania’s economy is still in good shape, better than most of the “developed countries” in fact.
Property is still relatively cheap compared to other European nations with the same economic stability and prospects. Albania’s long term property investment potential is better than most countries where property is priced much higher.
Experts urge that Albania property would certainly be on any shortlist.
Colliers International has recently secured a number of retailers who will be entering the Citypark shopping center, like Euronics, Mercator, and Intersport, United Colors of Benetton, Sisley, Calvin Klein, Lacoste, Cacharel, Toi & Moi, Societta, Altin Bas, Primo Emporio, Versace Home, and the children’s brands One2Play and Chicco.