There are changing times ahead for Albania. The country is on its way to becoming a member of NATO, accession to the European Union is being talked about by 2014, and infrastructure is being built and improved to cope with the demand from increasing numbers of investors and tourists looking to the country as the next hotspot.

Destinations such as the capital Tirana, Vlora and Saranda are all particularly popular with Brits as general overseas interest increases.

Albania has only been marketed to foreign buyers since 2006. Richard Bannister of Best Property Albania comments: "Albania came into the market place as it was the last of the European countries to emerge that offered cheap prices, a thriving local market, warm long seasons, an underdeveloped stunning coastline and mountains, and local finance to foreigners."

Property prices are still relatively low, with apartments on the coast ranging from 25,000 to 125,000 euros; prices in the Albanian capital Tirana range from 540 to 2,200 euros per square metre.

Rental yields are dependant on location, with Tirana's annual yields at six or seven per cent and the coastline offering four or five per cent. Bannister continues: "Rental yields on the coast are slightly lower due to not having a year round rental market. As more amenities like water parks and golf courses are built, this will obviously increase."

The Vlora area of Albania is becoming increasingly popular with holidaymakers with its beaches and long summers. Vlora looks set to become more easily accessible from Tirana Airport with the construction of a new highway which will cut the time from the airport to Vlora to an hour and 20 minutes.

The coastal area of Saranda can boast the warmest weather in Albania and also benefits from its proximity to Corfu which is a short 35 minute ferry ride away.

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Article first published 4 June 2008