Albania's economy predicted to keep growing

Sunday, September 04, 2011

Albania's economy predicted to keep growing

Albania's economy is predicted to continue growing as more and more investors flock to the country looking for bargain property.

Over the past few years Albania has enjoyed extensive GDP growth and was one of only two countries in Europe that recorded a 6% growth between 2001-2009, one of the strongest performances in the EU. According to Albania's Central Bank, economic growth in the second quarter of 2011 will be around 3.4 per cent and inflation will remain low, which means more good news for those looking for property in Albania.

As well as this, property prices in the country have remained stable throughout 2011 and the House Price Index in Albania has once again increased by 1.6 per cent during the second quarter of 2011, showing a market that is a relatively safe investment.

Ravin Maharajah, a resort owner based on the Adriatic coastline, comments, "There are numerous upward forces being applied to land and property prices in Albania - increasing infrastructure investment, EU accession progress and vast differences in property prices between close neighbours such as Croatia.

"A recent poll by Arrowtrak of businesses in the region discovered that around 37% were considering investing into the Balkans, and with more overseas investment, Albania will see an increase in expats moving to the area which will in turn boost property prices."

If you're thinking of buying a property in Albania, visit Barrasford & Bird on stand E45 in The Fractional Pavilion at A Place in the Sun Live at the NEC Birmingham on 30th September- 2nd October 2011.

Author

A Place In The Sun