Today's Kosovo is beginning to emerge as an affordable destination for property investors. Richard Bannister of Best Property Albania explains what the market has been like over the last 12 months, stating: "Although the market is reasonably quiet at the moment, the locals are looking to sell their land as they need the money."

The capital of Kosovo, Pristina, is according to Bannister, the best place to look for short to mid term property investments. "Pristina is where the improved infrastructure is and that is where the people of Kosovo from all over the world will be returning to," he comments, "That will show the quickest and highest growth."

Pristina is where the most significant changes are happening at the moment. There is large-scale investment in the city, which is leading to renewed confidence and growth. "Embassies for the UK and the USA are being built right now and the headquarters for the whole Balkan region is being built in Pristina," Bannister continues, "This shows confidence in the area and country." Large corporate businesses are also setting themselves up in the newly revitalised capital, bringing employment.

So where are the other areas of Kosovo that property investors should consider for their money? Bannister thinks that the ski regions are the areas to look towards in the long term. "You can still buy land cheaply, even though the skiing is apparently really good."

Bannister sees a positive future for Kosovo. "As more and more countries sign up to recognise Kosovo as an independent country, property investors will have more confidence to buy in it." Bannister also reckons there will be changes made to the process of purchasing property in Kosovo for foreign buyers. "The government knows it desperately needs FDI [Foreign Direct Investment] and therefore will have to simplify all procedures for international procedures abroad." However, Kosovo has plenty to offer investors, as Bannister continues, "At present the incentives are very good with no VAT on purchase, no stamp duty, low corporate tax, and no capital gains tax."

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Article first published 16 July 2008