Albania Property Investment For Sale
"One of the cheapest places in Europe to buy property."
Until the 1990’s Albania was a totally closed state. As a result of its isolation from the rest of Europe it was technologically outdated with a population living in poverty. Since the collapse of the Soviet system Albania has been trying to attract overseas investment and modernise, in order to compete with the rest of Europe but it has a long way still to go and remains one of the poorest countries in Europe.
Agriculture still accounts for about half of the employment in Albania but only one-fifth of GDP as it is run by small family groups on inefficient land plots with antiquated equipment. There are severe energy shortages as the country is almost totally reliant on hydropower and there is an extremely poor and old infrastructure. However there are new power sources being installed and very slowly Albania is moving towards modernisation with new rail, road, ports and airport facilities.
Albania continues to struggle with organised crime and a black market economy still thrives, despite government attempts to crack down.
The government is still in the process of returning properties and land to their pre communist owners so potential property investors should be wary of fake title deeds and properties with multiple owners. It should also be noted that under Communism much of Albania’s industry operated outside UN regulations so certain plants and their surrounding areas need to be cleaned up as they are a public and environmental threat.
Although blessed with vast sand beaches along its Mediterranean coastline and with numerous Roman, Anceint Greek and Illyrian heritage sites, Albania tourism is only in its infancy.