Today we have cautiously upgraded our Property Investment Rating from 3 to 3.5 for the Albanian property market, read more here.

Whilst we still believe its a little bit wild for many property investors in Albania there is no doubt there are opportunities, finance available and a burgeoning economy.

Over the last few months there seems to be increased interest from large western companies in Albania – as it is right on the doorstep of the EU and principally has cheap labour.

We see the structural reforms that have been implemented over the last few years as ones that are here to stay and the economy should continue to grow and a long with it demand for housing.

Recently a report by the World Bank ranked Albania as one of the best reforming countries (after Azerbijan) in attracting businesses and promoting investment to the country. The raft of reforms are surely set to continue and will make Albania an increasingly attractive place in which to do business. The investment influx this is already creating is only likely to have a beneficial effect on the Albanian housing market.

We still recommend avoiding the coast (perhaps with the exception of buying land in prime locations).

Tirana, the capital is still the best bet for growth at the lowest risk possible in Albania. Though investors still need to go in with their eyes open, buy in the right locations that are not oversupplied, have secure title, not beset with infrastructure problems and from good developers.

The Albania property market may offer rich rewards if one can stomach the risk and uncertainity.

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