Albania Property Resilient to Credit-Crunch

Albania is a good market to make a property investment in 2009 according to an industry expert. Albania's property market is displaying remarkable resilience to the credit-crunch, based on internal sales, but that there has been very little interest in Albania property from private overseas investors and buyers -- though a major new Real Estate Investment Trust is currently active in the market, said Liam Bailey.

Director of Write About Property, a media relations and SEO services company focussing on the property industry, Bailey said:

"As we have seen Albania's resilience, alongside the resilience and strength of Montenegro and other Eastern European markets, we are happy to go behind a report stating that the Albanian market is currently very stable and some excellent mid-long term property investments exist in the country."

The statements come just weeks after a new multi-million Euro property fund focussing on Albania and Eastern Europe was announced. Bailey also noted that "while Albania's growth wasn't as impressive as Montenegro's in the first three quarters of 2008, that prices are have held firmly since when other markets like Bulgaria have seen major price drops".