World Crisis And Real Estate in Albania

“The established and semi-established markets like Spain, Cyprus, and Portugal, have completely taken over from emerging markets like Montenegro and Albania in terms of buyer interest.” – reports the portal property-abroad.com. This information is based on statistics collected from visitors having visited the site in February. The five most popular destinations on their website last month were: Spain, America, Cyprus, Portugal and Italy. This is completely different to what the company expected six months ago. In the USA and in Spain, where the effects of the economic crisis were being felt more forcibly in the real estate market than in other western countries, the sale prices had began to curb over the last months. This factor may have induced the new-found interest in these countries’ real estate markets. Recent reports from the USA state that in some regions an increase in sale prices has been observed in anew and that sales of existing homes grew in the Northeast from January to February. As buyers or international investors are looking to take advantage of deep discounts in the US real estate market or in some big European countries, emerging markets like Albania are not gaining as much attention as they were expecting. In Tirana, the capital city of Albania, where there is a stock of more than 4000 unsold new apartments, some foreign brand-name real estate companies have already begun to operate. With the effects of the economic crisis being felt in Albania, the local constructors as well as the local and international real estate agencies were expecting to get some interest from foreign buyers.