Albania sends questionnaire on progress to meet visa liberalisation criteria

03 September 2010

The Albania government has delivered the questionnaire on its progress to meet the criteria for visa-liberalisation with the European Union to the European Commission.

The Commission will now decide whether or not Albania qualifies for visa-free travel between Albania and the EU. According to sources inside the government the repatriation issue is dominant in the issued report.

Visa free travel would almost certainly be a massive boost to the Albanian property market, both indirectly as a result of the economic boost, but also directly.

Albania property became moderately popular with foreign investors during the last boom, but this was always on the requiem of economic growth, and the potential for rising residential rentals. A rising tourism market was often mentioned but never proven to any real degree (not that proof was all that important to most buyers by the end of the boom).

Visa free travel would almost certainly lead to a massive rise in tourism to Albania, and more importantly -- for today's risk averse buyers -- the rise may be documented because of the visa-free travel being a newsworthy event.

Business travel also stands to increase, and this could lead to growth in investment, and even new ventures in the country. Costs are low, especially rental rates on offices and commercial space. Meaning the agreement could even be instrumental in the significant recovery of the Albania economy.