Albania Property: One To Watch For 2011

Albania Real Estate InvestmentAccording to some property experts, Albania will be the property market to watch in 2011.

Known as the land of the eagle, 2011 will be the year for Albania. Located in South Eastern Europe, just 45 miles across the Strait of Otranto from Italy, Albania looks set to spread its wings and realise its potential as an exciting, new and lucrative second home market say the real estate and financial experts of the Lalzit Bay Resort & Spa.

Over the past few years Albania and its people have worked hard to shake off their communist past. Members of the UN, WTO and since 2009, NATO, Albania, has become not only a European (EU accession is expected in 2014 and members of EU Schengen Visa-free zone expected to be confirmed during November 2010) but a global player.

This hidden gem of Europe, being located outside the euro zone, was not as badly affected as its Greek neighbours by the economic downturn boasting up to 5% economic growth for 2010, twice the 2.6% growth prediction of the IMF.

As Ravin Maharajah, experienced property developer and partner of Lalzit Bay in Albania, comments, “Albania in my opinion is bursting with great investment and lifestyle potential. It has all the hallmarks of a prosperous property market with robust economic growth, FDI in the region of $400 million per annum, sustained domestic and international demand for accommodation, mortgage finance available and a rapidly growing tourism sector. This is certainly one to watch in 2011.”

And Albania certainly has something for everyone. With 362km of stunning Adriatic and Ionian coastline and a rugged mountainous interior perfect for hiking and adventure sports, Albania is the perfect holiday destination. Direct flights from the UK to the capital Tirana operate daily by British Airways with a flight time of just 2.5 hours. The investment in infrastructure and new coastal roads make it even easier to reach stunning unpopulated beaches such as Djiri Lalzit, home of Lalzit Bay Resort & Spa, just 30 minutes north of Tirana.

The first half of 2009 saw a 36% increase in tourist arrivals to 1.5 million compared to the same period in 2008 and according to the Albanian Government arrivals in 2010 have already doubled once again to 3 million.

For those looking to invest wisely in property and real estate in 2011 then Albania’s dynamic property market should appeal greatly. With some of the lowest coastal property prices and taxes in Europe yet competitive rental yields of up to 6% per annum and 20% capital growth seen in the last 5 years, savvy investors are fast realising the appeal of Albania.

One development which is receiving significant attention is Lalzit Bay Resort & Spa. This upscale frontline development located in Lalzit Bay just north of Durres comprises 1 and 2 bedroom luxury apartments from only €50,400 and 3 and 4 bedroom villas from €234,000.

Designed by the world famous international architects, Woods Bagot, owners will be able to enjoy direct beach access as well as a wealth of first class on-site amenities including an internationally branded hotel, luxury spa, swimming pool, sports facilities, restaurants, bars and shops. Mortgage finance is available and investors can also take advantage of a 6% rental guarantee for the first 2 years.

A limited number of units have now been pre-released so contact Lalzit Bay today on 0845 125 8600 or visit www.lalzitbay.com for more information about investing in Albania – one to watch in 2011.

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  1. Ilir Konomi | Apr 13, 2012 | Reply

    Definitely agree with the article.
    During the last 3 years we have seen the market still doing pretty well if compared to the neighboring countries like Montenegro and Greece.
    Also the stage in which Albania property market is, favors this country much more – Albania is still at the beginning of the property cycle, while Greece, Montenegro, Bulgaria and the likes have been in the market for such a long time already.

    The recent developments in Greece and Italy are showing some signs that Albanian emigrants which were the force behind the real estate so far have started to slow down.
    In contrary the foreigners keep moving towards Albania as it still much better position vs the other countries in the region.

    Albania Property Group provides a wide portfolio of selected properties from Lalzy bay in the central Albania further south to Vlora, Dhermi, Saranda.
    With 3 offices in the ground they provide excellent service to all the foreign clients interest to invest in this beautiful country.

    Visit http://www.albaniapropertygroup.com and take a look at the properties offered there.
    Anywhere from 30K Euro.

    Best of luck

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