Albania: Overview

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Overview

Albania (pop. 3,166,000; GDP/cap US$2,704) transitioned to democracy in the early 1990s. The transition has been a challenge because successive governments had tried to deal with high unemployment, widespread corruption, poor infrastructure, powerful organized crime networks, and antagonistic political opponents.

The country is one of the poorest in Europe. Remittances from Albanians working abroad are important source of revenue.

There are no restrictions on the purchase of private residential property by foreigners. Agricultural land cannot be purchased by foreigners, but may be rented for up to 99 years. Commercial property may be purchased, but only if the proposed investment is worth three times the price of the land.

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