Albania's government has told the International Herald Tribune that it has taken out a 66.2 million euro loan from the Japanese government to modernise and overhaul its canal system and build a sewage treatment plant. The deal, which gives Albania a forty year period to repay the loan, was signed June 30 2008.
This is just the latest in a series of major financial commitments made by the Albanian government, including a 25million euro loan from Austria at the beginning of last month to help Albania meet its requirements for EU entry, and another major loan taken by the Duress port authority from the European Bank for Reconstruction and Development to renovate the existing quays and build a new terminal at Albania's largest port.
All loans taken out by Albania are directed at improving the country's infrastructure with a view to aiding its flourishing track record for economic growth, which has been almost constant since it left Communism behind in 1992. It is a testament to Albania's economic performance since 1992 that it is taking out loans as oppose to receiving grants, it has had the economic power to take out such loans since the World Bank upped its designation to a middle-income country in 2007.
The Albanian government has an exemplary record for managing the country's economy, maintaining strong growth while keeping inflation low. The fact that it is taking out these major loans is a major indication of their forecast for the Albanian economy, which they clearly expect to continue growing strongly. And they are not the only ones; David Stanley Redfern's head of international research Liam Bailey, said:
"Albania is one of the best places in the world to make a long-term property investment, not only is the government proving their competence time and time again by generating substantial economic growth in its own right while maintaining low inflation. But Albania is all set to become a full member of the EU in 2014, EU loans during this period will bolster the economy and continually aide schemes to develop the infrastructure, which then aides further economic growth, and then Albania's economy will be further boosted by reduced trade tariffs, repatriations from Albanian's going abroad to work, and a whole host of other benefits of EU membership."
One impressive factor that has come from Albania's economic growth of this decade is that a quarter of the population's poorest were brought out of poverty between 2002 and 2006, and unemployment continues to fall, at the same time as wages rise. As Albania's internal wealth and affluence continues to rise, living costs rise, and property values are continuously pushed up. But another benefit is that there will be plenty of Albanian's looking for homes, when investors decide to collect on their long-term investment gains. All round Albania is perfect.
Find out more about Albania and property investment.
About David Stanley Redfern
David Stanley Redfern Ltd is one of the U.K.'s leading overseas property investment specialists. The reasons for this are an incomparable range of international properties spanning 40 destinations worldwide, and unrivalled customer care, which lasts long after the purchase has been completed. Experienced, professional staff and membership to the overseas property market's regulatory body: the Association for International Property Professionals, as well as their stringent due diligence procedures gives buyers the confidence that any purchase with David Stanley Redfern is a safe one.
Media enquiries should be directed to Liam Bailey at media@davidstanleyredfern.com
Showing posts with label overseas property investment. Show all posts
Showing posts with label overseas property investment. Show all posts
Wednesday, 16 July 2008
Sunday, 6 July 2008
Albania and Montenegro: Safer than Western Europe
The Balkans, a region once known as a hotbed of crime and violence, has become one of the safest zones in Europe according to the United Nations.
"The vicious circle of political instability leading to crime, and vice versa, that plagued the Balkans in the 1990s has been broken," said Antonio Maria Costa, head of the United Nations Office on Drugs and Crime.
The bloody breakup of former Yugoslavia — the worst carnage in Europe since World War II — left the region in turmoil throughout the 1990s, but a United Nations report says the levels of crime against people and property are now lower in the Balkans than in Western Europe.
The United Nations report says this trend of reduced crime is likely to continue as the region lacks the usual factors that lead to crime elsewhere in the world: mass poverty, income inequality, runaway urbanisation and large-scale youth unemployment.
David Stanley Redfern Ltd have properties in two Balkan countries, Albania and Montenegro. And with both countries on the road to EU accession, their property markets are safe too.
The Albanian property market is among the cheapest places in Europe to buy property, and since the market has become the focus for international investors the country has enjoyed solid capital appreciation figures. Buyers of Albanian property can expect 5-7 percent rental yields and 10-15 percent capital appreciation, perhaps even rising to 30 percent when Albania enters the EU.
David Stanley Redfern Ltd is in the unique position of having property in the most promising and sought after areas of Albania; the area surrounding Tirana's artificial lake and the first ever development in the Fresku District of Tirana near the Dajti Mountain.
Montenegro is also progressing towards EU accession. Rental yields of up to 10 percent can be achieved in popular tourist areas, and prices are expected to grow in value by 15-20 percent per year.
David Stanley Redfern Ltd have three off-plan developments in tourist hotspots. The Acacia Hills development consists of one two and three bedroom apartments in an astonishing location overlooking the Bay of Kotor on the massively popular Montenegro coast. Also overlooking the open sea are sea-facing terraces in a new off-plan development located in the village of Zambelici, on the beautiful peninsular of Lustica. While The Lakeside Park development is on the banks of Lake Slano surrounded by wilderness, yet only 5 minutes drive from Montenegro’s second biggest town, Niksic.
Find out more about Albanian property.
Find out more about Montenegro property.
About David Stanley Redfern
David Stanley Redfern Ltd is one of the U.K.'s leading overseas property investment specialists. The reasons for this are an incomparable range of international properties spanning 40 destinations worldwide, and unrivalled customer care, which lasts long after the purchase has been completed. Experienced, professional staff and membership to the overseas property market's regulatory body: the Association for International Property Professionals, as well as their stringent due diligence procedures gives buyers the confidence that any purchase with David Stanley Redfern is a safe one.
Media enquiries should be directed to Liam Bailey: media@davidstanleyredfern.com.
"The vicious circle of political instability leading to crime, and vice versa, that plagued the Balkans in the 1990s has been broken," said Antonio Maria Costa, head of the United Nations Office on Drugs and Crime.
The bloody breakup of former Yugoslavia — the worst carnage in Europe since World War II — left the region in turmoil throughout the 1990s, but a United Nations report says the levels of crime against people and property are now lower in the Balkans than in Western Europe.
The United Nations report says this trend of reduced crime is likely to continue as the region lacks the usual factors that lead to crime elsewhere in the world: mass poverty, income inequality, runaway urbanisation and large-scale youth unemployment.
David Stanley Redfern Ltd have properties in two Balkan countries, Albania and Montenegro. And with both countries on the road to EU accession, their property markets are safe too.
The Albanian property market is among the cheapest places in Europe to buy property, and since the market has become the focus for international investors the country has enjoyed solid capital appreciation figures. Buyers of Albanian property can expect 5-7 percent rental yields and 10-15 percent capital appreciation, perhaps even rising to 30 percent when Albania enters the EU.
David Stanley Redfern Ltd is in the unique position of having property in the most promising and sought after areas of Albania; the area surrounding Tirana's artificial lake and the first ever development in the Fresku District of Tirana near the Dajti Mountain.
Montenegro is also progressing towards EU accession. Rental yields of up to 10 percent can be achieved in popular tourist areas, and prices are expected to grow in value by 15-20 percent per year.
David Stanley Redfern Ltd have three off-plan developments in tourist hotspots. The Acacia Hills development consists of one two and three bedroom apartments in an astonishing location overlooking the Bay of Kotor on the massively popular Montenegro coast. Also overlooking the open sea are sea-facing terraces in a new off-plan development located in the village of Zambelici, on the beautiful peninsular of Lustica. While The Lakeside Park development is on the banks of Lake Slano surrounded by wilderness, yet only 5 minutes drive from Montenegro’s second biggest town, Niksic.
Find out more about Albanian property.
Find out more about Montenegro property.
About David Stanley Redfern
David Stanley Redfern Ltd is one of the U.K.'s leading overseas property investment specialists. The reasons for this are an incomparable range of international properties spanning 40 destinations worldwide, and unrivalled customer care, which lasts long after the purchase has been completed. Experienced, professional staff and membership to the overseas property market's regulatory body: the Association for International Property Professionals, as well as their stringent due diligence procedures gives buyers the confidence that any purchase with David Stanley Redfern is a safe one.
Media enquiries should be directed to Liam Bailey: media@davidstanleyredfern.com.
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