Albania Investment: Economy
When investing in Albania, one of the key considerations is the economy. Albania has seen strong economic GDP growth since 2003 and GDP growth in 2007 was 6% with a similar figure predicted for 2008. Albania property forms an essential part of Albania's recent economic growth and property investment in Albania represents an excellent choice.
Inflation in Albania is low compared to other countries in the region, although unemployment is high (over 13%). Reflecting Albania's economic strength, Moody's Investor Service has assigned Albania its first sovereign ratings, indicating a stable outlook. These ratings prove that Albania is transforming into a market economy, a further indication of investment potential in Albania, particularly in property.
Albania Investment: Tourism Potential
An additional consideration when you buy Albania property is the tourist industry. Previous a virtually unknown spot, Albania now boasts a growing tourist sector and June 2008 saw an increase of 20% in visitor numbers to Albania. Experts predict that this tendency is set to continue with tourism contributing significantly to Albania's economic growth. Higher tourism translates to higher demand for tourist accommodation, meaning that investment in Albania property is a wise choice.
Albania Investment: Property Market
The decision to buy Albania property has the potential for high capital gains. The Albania property market has been described as ‘one of Europe's final frontiers' and with annual price rises of 30% in Tirana property and apartments in coastal regions, buying Albania property is currently one of the best overseas investment opportunities in Eastern Europe. Experts predict that property values in Albania's capital will continue to rise by around 25% for the next few years. For more information, get the full Albania Property and Land Investment Guide.
