Albania Property Market still Going Strong

March 19, 2009 - PRLog -- Rising internal wealth and low property prices make it an excellent alternative to bank savings or any other investment vehicle currently available, according to director Les Calvert, he said:

"Before the credit crunch hundreds of new off plan property developments were being launched in Albania, and we have heard no reports of any of those developments being cancelled”.

Building costs in Albania were and are low and the bulk of developers being realistic about their prices meant that, although overseas investors were being targeted, the properties were affordable for the growing Albanian middle-class.

This has meant that as Albania's middle class continues to grow, albeit slightly slower than a year ago, these properties are still in demand, especially in Tirana and Duress, Albania's main industrial and export hubs.

Overseas property portal Property Abroad are currently advertising dozens of properties for sale in Albania, including 1 bedroom apartments in Tirana from £17,510, an exceptionally low price even for Tirana apartments. The fairly new Kashar View development is expected to earn rental yields of 6-7% when completed.  The portal is also advertising Duress apartments starting from from just over £30k.

"Newly built and resale properties in Albania have proven the most resilient to the credit crunch. This is because Albanian property is currently being bought predominantly by Albanian's for occupation; they are obviously looking for properties they can move into," continued Calvert, adding: "However, many of the developments built during the boom are currently nearing completion and they are proving almost equally as popular."

About Property Abroad

Property Abroad is rapidly growing into one of the best known, trusted and most successful overseas property portals in the U.K. With a slick dynamic site and very reasonable rates Property Abroad currently has among the most extensive worldwide property listings on the net.

To find out more contact Liam Bailey on liam@write-about-property.com or the team at: info@property-abroad.com

Property Abroad LTD
182 York Road
Hartlepool
TS26 9EA
www.property-abroad.com

Chief Marketing Analyst
Liam Bailey
liam@property-abroad.com

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Overseas property portal with more than 70,000 properties for sale direct from agents, developers and private sellers across the world. Buyers guides, maps, country guides, articles and useful information on buying a property abroad.