The history of Albouystown as a real estate investment has changed over the years. In 1906 when Albouystown was integrated into the city of Georgetown, it was a neat suburban village. There were small cottages and even some ranges in spacious yards, usually with fruit trees. The streets were clean, and crime was almost unknown. Owners lived on their properties and usually had a tenant or two. Its multi-racial community lived in fraternity. Property prices compared with those of the wards south of Brickdam and since not many people sold their properties, it was quickly bought whenever a property was for sale.

In the 1960s racio-political disturbances enveloped Guyana and there were shifts and movements of people. Large numbers of people from the villages migrated to the city. Most of them found their way to Albouystown since rents were cheaper than in other areas. The settled original population mostly migrated abroad, selling their properties at knockdown prices. Since the economy was depressed, most new migrants could not find work and became a lumpenproletariat. The physical conditions of the ward rapidly deteriorated, and crime grew. Property prices fell to their lowest.

From the 1990s, the country regained its stability and the economy gradually began to improve and this was reflected in Albouystown. Middle-class people began to buy property and live in the ward. Houses were repaired, crime was controlled, and the area became cleaner. Real estate prices began to rise again until they compared with those of Werkenrust and Wortmanville.
In the last three or four years, reflecting that Guyana had become an oil country, Albouystown entered a boom. The Government made Albouystown a developmental priority, and hundreds of millions of dollars were allocated to its development. The expressed aim was to transform Alboustown into the best ward in the city.

The streets were all asphalted; all government structures were rehabilitated; new houses began to be built and old ones repaired; the old slummy structures were being eliminated; the drains were concreted, and flooding came under control; crime was reduced to the same levels as other parts of the Capital. One of the most remarkable developments has been the transformation of Independence Boulevard into a modern highway leading from Saffon Street to Ogle. More people began buying property in Albouystown as an investment and as residences.

Though property prices are increasing, they are still not at their optimum and this has prompted the political leadership of the country- Mr Christopher Jones on behalf of the PNC/R and Vice-President Jagdeo on behalf of the PPP/C to advise property owners to be in no hurry to dispose of their properties since values would be rising much higher.

Albouystown properties have become the premium real estate in the city. With the new road system, it is within easy reach of the two airports and is the part of the city with the fastest connectivity with the Cheddi Jagan airport. Between Ogle Airport and Albouystown is a ten-minute drive along Independence Boulevard. It is within walking distance of the Law Courts, the main Administrative Offices and the city’s commercial hub. Indeed, Independence Boulevard is fast becoming a commercial district similar to Regent Street. It is also within easy reach of the onshore oil and gas developments at Vreed en hoop and Houston, where employment could be found. Indeed, several people employed at Houston have taken up residence in Albouystown.

Educational facilities are being upgraded, including Dolphin and Carmel schools and health facilities with the upgrade of the Selman Fraser centre and easy connectivity with the new state-of-the-art hospital being built on the East Bank Demerara.

As these social and economic developments come into stream, Albouystown properties are becoming more valuable and entrepreneurs are quietly buying up properties there and it is this trend that has prompted the national leaders, as mentioned above, to advise Albouystown people to be in no hurry to part with their properties.