Albania Becomes Property Hotspot

Albania has had a particularly troubled past. After being ruled for most of the 20th Century by various Communist and Socialist governments, it finally gained independence in 1992 when it became a republic. However, the move into capitalism was a strained one, with a large amount of the country investing in Ponzi schemes and eventually losing a large amount of savings to the scams.

This resulted in a huge financial crisis for the country, which ahs struggled to develop into a prosperous and desirable country. Recently though, in spite of slow global recovery, Albania has moved to new developments and is beginning to see a bourgeoning tourist trade, with it comes investment in properties and holiday resorts. It’s not hard to see why. Albania is a stunningly beautiful country. The Lalzit Bay is an incredibly lovely view, offering sights across the Mediterranean, and Butrint gives its residents a wonderful view of Corfu, only a few kilometres off of the coast. Move inland and you find a handsome and open cities, including the capital of Tirana.

New developments planned in the Lalzit Bay include a new health club, an eight-story hotel and 500 properties available for purchase. The area is a great option for anyone considering emigrating, purchasing holiday homes for themselves or considering renting to other tourists. Homes along the coast can cost as little as £30,000 and a three-bedroom property with views of the seas will only cost about £100,000.

Albania is seeing a growing tourist trend, with 4.1 million people visiting the country last year, a huge mark-up on the 300,000 figure of 2004. British Airways flies to Tirana five times a week, meaning the country is always easily accessible and quick to get to.

All in all, it’s an exciting and rising country to invest in. Try to get in early before it really takes off and you can reap the rewards of owning an enviable and profitable piece of property before the house prices catch up with the trends.