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Albania Property Boosted by New Fund
| 08 December 2008 | The Albanian property market is expected to see a boost after the establishment of a €100 million private fund real estate fund for the region, reports propertyxpress.com.
“The fund will provide a massive boost to Albania’s property market, even if only in bringing it back into the international spotlight, not to mention the economic boost and the restoration of buyer confidence,” Liam Bailey, the chief market analyst for overseas property portal Property Abroad.
“The good thing about buying in Albania…,” continued Bailey, “… is that the economy is growing from a grassroots level if you like, and the demand for housing from average Albanian’s is growing steadily — if not rapidly — so buyers of off-plan property now, can look forward to a strong resale market when it comes time to realise their gains,” he adds.
The Albanian real estate market is seen by foreign investors as being on the cusp of a building boom as the country slowly emerges from a difficult transitional period and its European Union prospects improve.
In April, Albania together with Croatia was invited to join NATO at the Bucharest summit, a further sign, experts believe of growing stability.
Contributed by Balkaninsight
