Albania property investment bargains thanks to credit crunch

Property investment bargains could be had in Albania thanks to a combination of a fall out from the credit crunch and growing international interest, specialists have said.

Already seen as an emerging market, the country still has some extremely cheap but quality homes in key areas, like the capital Tirana.

Property Abroad pointed to the Kashar View homes development in the city, which appears to have been given an exceptionally low launch price following the credit crunch.

Just released and expected to be a buy to let property investment opportunity, units are on sale for just over £17,000 ($21,686).

Property Abroad said: “There aren’t many new luxury apartments in Tirana priced under £20k, making this a real bargain, and also giving it immediate equity because when the apartments are completed they will immediately be worth what other like-for-like apartments in Tirana are.”

Elsewhere completed high class villas and apartment homes right on the waterfront at Sarande in Albania are going for £143,306 ($182,765).

The potential property investment opportunities benefit from sea views alongside a bar, restaurant and gym.

Property Abroad director Les Calvert added the entrance of new multi-million Euro Real Estate Investment Trusts (REITS) “confirms Albania as a destination worthy of overseas property investment”.

Homes in Tirana are often found most cheaply in a number of new and off plan apartment blocks, being built to cater for a growing number of mid-market buyers.

[Photo: Dori GFDL]

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