Overseas property buyers drawn to Albania

TIRANA, Dec 20 – Albania continues to be identified as an emerging hotspot of activity among overseas property buyers.
According to real estate consultancy Colliers International, a number of factors are fuelling interest in the eastern European country.
The nation may soon likely bid to become a European Union member, which could trigger considerable capital growth in the housing market.
Colliers added that Albania’s economic and political stability has also proved to be a factor behind its growing appeal.
Official figures released this week show that in the third quarter of the year, the economy grew by a record 9.9 per cent.
Philip Bay, spokesperson for Colliers, said that, “We are very confident that Albania has a bright future. The country will become an attractive market in three to five years.”
He added that property values in Albania are far more affordable than those in other parts of Europe, such as the Mediterranean coastline.