Albania takes a 'giant step forward'

Recent events have enhanced the appeal of Albania as a property investment destination...

At its April meeting in Bucharest, NATO extended a full invitation to Albania and Croatia to join the fold. This is a major step in Albania's integration into Europe, and a pivotal point in its path to achieving full membership to the European Union.

Though, much work is necessary on the part of Albania, the invitation proves that the steps already taken have been the right ones, and that the desire is there to do everything necessary to achieve full EU membership as soon as possible.

Due to its growth, potential and having things like NATO and EU membership on the horizon, Albania has become a property investor's favourite within Europe.

Solid economic growth

Liam Bailey Head of International research for David Stanley Redfern put forward a possible reason for Albania's current popularity: "In the last 2-3 years Albania has put political and ethnic tensions behind it and began to see some really solid economic growth, with around 8% GDP growth on average.

“I personally believe watching other countries in the region like Bulgaria and Montenegro start to flourish on the international investment stage, triggered the government and the entire population to take the necessary steps to end the tension for the good of them all. Albania has been growing even on its own strengths, but EU grants and loans to help prepare the country for full membership will only generate even greater growth."

"In that respect, the long road and work needed to gain EU entry is actually good for property investors, because property bought now at low prices, will continue to grow in value throughout the period when EU money is bolstering economic growth in the country. This makes Albania a safe investment destination, even in the face of global adversity."