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News: Albania starting from scratch

Wed, 24 Oct 07

Property treasure is often found in the most unlikely of places, whether at the end of the rainbow or below the sea in Gibraltar, and the world of overseas property is no different in keeping its best secrets undisclosed...

Few, after all, will associate Albania as being the international capital of glamour and glitz, or even as a worthwhile (or even possible) destination for the annual family holiday. When you think of this small nation, huddled between Macedonia, Greece, Kosovo and Montenegro, you are more likely to consider that, as one of the poorest nations in Europe, it could never offer rich life experiences, appealing culture and a thrilling history. But yet it does.

Just a stone’s throw from British tourist and property hotspot Greece and two of the latest overseas property success stories - Macedonia and Bulgaria - the face of a too long ignored Albania does seem to be changing.

Diamond in the rough

Whereas elsewhere, long established resorts are having their tourist infrastructure improved, developed, expanded and gentrified, Albania is starting from scratch, just like Spain did in the 60’s. As the last outpost of post-communist chaos, it is best for tourists and investors alike to witness the nation in this condition while they still can and discover an authentic Albania.

Still searching for its own identity, Albania has a spirit unlike any other nation in Europe, a genuine diamond in the rough. In a land of history and ancient traditions with an incredibly cool capital city (Tirana) and a dose of Mediterranean influence, this sunny slice of mountains and European easy-living are beginning to put Albania’s name firmly on the map, as both an increasingly popular holiday destination and an investment location.

With its continental climate, warm summers and cold winters, it is perfect for a touch of ski on its snow-capped mountains and glorious sunshine warming its turquoise seas. The new and much improved Albania will pack a punch once word gets out, as it offers opportunities for both sun-soaked lazy days in coastal areas and adrenaline-filled adventures in its ski resorts, so log on to Propertymartoverseas.com now and make your mark.

Blossoming nation

Albania is making investment from foreign buyers in their blossoming nation easy. There are no restrictions on the purchase of private residential property by foreigners, making it an ever more desirable location. With properties available from around £25,000 (€38,000) in the capital Tirana and £35,000 (€52,000) for a beachfront property, Albania is a very affordable alternative to the escalating prices seen in recently popular Bulgaria and Montenegro.

Albania does remain a dangerous place in parts, especially by the border with Kosovo, and foreigners are recommended to stick to establishing beach resorts and Albania’s cities, including Tirana, Shkodra, Durres and Berat.

The Bay of Vlores area is establishing itself as a hotspot for Italians because of its natural beauty and improved access. While it won’t produce steady rental prospects for the time being, capital growth is projected at 15%-20% per annum, so it could be an excellent compromise for property investors in Albania.

Miraculous turnaround

Albania has an unspoilt coastline, as good as that of Croatia and Montenegro, all for a fraction of the price. Climate-wise, Albania has even better weather than the above, an increasing number of direct flights from the UK, improved mortgage availability and a well-structured legal system.

The press hype surrounding the assortment of culture, history and arts that is Albania is seeming ever-more justified and, as a result, Albania might just pull off a mightily miraculous turnaround. Log on to Propertymartoverseas.com now for properties in Albania and discover its top-secret treasures before the crowds do.

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