EU integration to raise Albania property price

TIRANA, Nov 23 – Albania’s property is to see continued demand as EU application proceeds well.
Albania’s path towards EU membership is still proceeding well. Last week, European Union Officials have officially accepted Albania’s formal application for candidate status, and the European Commission will now submit an opinion on Albania’s bid.
EU membership for Albania is expected to become a reality likely next decade and its chances are relatively good because of the country’s continued reform process, investment in infrastructure and the welfare of its people.
Between 2002 and 2006 Albania successfully brought one-fourth of its poorest people out of poverty, raising its classification to a middle income country, which meant it could then apply for loans from international financial institutions as oppose to relying on hand-outs from the likes of the World Bank and International Monetary Fund.
Since then Albania has applied for and received several multimillion Euro loans from global banks and governments; including a loan from the European Bank for Reconstruction and Development to refurbish, renovate and expand the country’s largest port at Duress, and another from multiple sources to upgrade road links between the port and land-locked Kosovo into a super highway.
Those two projects alone — though they were considered risky given their timing, during a global recession — have the potential to be a massive boost to Albania’s economy for many years to come; Kosovo tourists will come to enjoy the beaches, and Kosovo companies will increase exports through the Duress port, not to mention the trade and tourism in the opposite direction.
That sums up the Albanian government’s economic policy of continually investing in the future. This is why the EU will almost certainly accept Albania into the community. This will again be a boost to Albania’s economy, as EU residents are then able to travel visa-free to and from Albania.
EU entry on the horizon will continue to make Albania property very popular with investors in the coming years.