In 2011 the auspicious Lonely Planet guide put Albania in at #1 in their ‘Best in Travel for 2011′ list. Shortly after, London’s very own global business newspaper, The Financial Times dubbed Albania one of the year’s most intriguing prospects for emerging travel.

And now, getting 2012 off to a flying start, Albania has been named by MSN Travel as one of the Hottest Destinations of the year. In at 4th position, Albania makes the prestigious shortlist compiled by one of the world’s longest established travel companies – Cox and Kings and ABTA Travel Association.

Perhaps best well-described as ‘a country awakening from a long, oppressive hibernation’, Cox and Kings herald Albania as a: “Landscape of almost heart-wrenching beauty, rugged mountains, snow-capped for much of the year, towering above unspoilt white sand beaches and green mysterious valleys.”

This beautiful description conjures up a vivid portrayal of untouched lands just waiting to be explored. Like the people of Albania, who have been previously hidden behind a blanket of communism and corruption, the nation is now emerging as a hidden European gem.

MSN Travel says of Albania:

“Bordered by Greece, Macedonia, Kosovo and Montenegro, Albania is nestled in the heart of the Mediterranean but has long been ignored as a travel destination after years of being shuttered in communist isolation. But the world is slowly awakening to its potential as both a beach and historical destination with miles of coastline along the Adriatic and Ionian Seas, and historic archaeological ruins that trace the country’s history back through the to the Bronze Age.”

Ravin Maharajah, Partner in Lalzit Bay & Spa Resort, the 5* resort under construction on the stunning Adriatic coastline of Albania, comments on the latest accolade awarded to this country:

“We started this venture in Albania, carrying out the exploratory work for the resort in 2008. We were extremely confident of the success that will come out of Albania as it heads away from oppression and towards modern Europe. Our early forays into the country led us to a land of plenty. There is an abundance of sunshine, white sandy beaches, crystal clear warm waters, beautiful mountain ranges and above all a kind, warm and generous population.

“We have been bowled over time and time again with the efforts that the Albanians are making to push their country forward, make changes and improve the infrastructure.”

The apartments in Lalzit Bay Resort are moments away from the beach and situated in beautiful private gardens. The villas are designed to be the ultimate beach properties in Albania – spacious, stylish and with private swimming pools.

Priced from just €35,000 for apartments, for more information contact Lalzit Bay on 0845 125 8600 or visit www.lalzitbay.com.

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Unveiling their list of top travel destinations for next year, the experts at Frommer’s also polled readers to find out where they wanted to visit in 2012 with the beautiful Albanian Riviera emerging as a winner.

The list which included something for everyone, from large cities, to quiet beach towns and riverside homes highlighted Albania as having all the natural attractions of its Croatian counterpart in the north but without the large crowds and high prices.

Ravin Maharajah, Partner of Lalzit Bay Resort & Spa, the 5* luxury residential development located on Albania’s Adriatic coastline comments, “Albania’s coastline is quite simply its greatest asset with 295km of Adriatic coastline that runs from Montenegro down to Greece.

“Albania is full of gleaming white beaches, easily among the most beautiful in Europe. Within it lies a rich history and a land of legends and ancient civilizations. It is a nation where travellers will enjoy authentic traditions and cuisines, as well as a friendly welcome.”

With a 200% increase in tourists visiting the Balkan nation between January and August this year compared to numbers in 2008 as well as the International Monetary Fund (IMF) predicting strong economic growth of 3.5% in Albania for 2012, the country is not only beginning to get the attention it so rightly deserves but is creating a favourable climate for foreign and domestic business as well as those on the lookout for property.

With this in mind, the 5* Lalzit Bay Resort & Spa can provide the perfect property investment opportunity for as little as €38,000 for a luxury apartment on a beach-front resort.

This stunning property development, recently voted ‘Project of the Year’ at the 2011 RealEx conference in Tirana recently for its high quality infrastructure and strong commitment to the environment will provide outstanding on-site facilities including a beach club, BBQ area, tennis courts and restaurants.

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Over the last ten years, Albania’s economy has seen real GDP growth and, despite the economic downturn in 2008, is one of only two countries in Europe that not only recorded economic growth of 0.4% in Q1 2009 but also an impressive 6% growth from 2001-10 – meaning Albania can boast one of the strongest performances in Europe.

As well as these impressive economic figures, the House Price Index in Albania is also strong, having increased by 1.6pc in the second quarter of 2011. Experts have also said that house prices have remained stable throughout 2009 and 2010 meaning the housing market is stable and although this means mega-money has not been made, it is a positive at a time when many housing markets have seen dramatic decreases in prices during the same time frame.

EU accession progress, infrastructure investment and the disparity in house prices between Albania and neibouring countries all mean that house prices in Albania are likely to stay positive. Given the economic stability of the country over the past few years, this all adds up to good news for property investors who are looking for a relatively safe, secure place to invest in.

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France and Spain have traditionally been the two countries that people retire to – particularly the British. However recently, many retirees are looking further afield and Albania is a country which has garnered much interest – thanks in part due to the cheaper property prices when compared to France and Spain.

Albania is situated on the Adriatic and Ionian coasts and boasts miles of unspoilt beaches, beautiful scenery and a wealth of culture including archaeological sites and ancient monuments. All this charm has added up to a 45% increase in the number of Albanian property enquries according to HomesGoFast.

Tirana airport has also recently been upgraded and thanks to daily BA flights to the capital, more people are contemplating Albania as a holiday destination. Increasing numbers of tourists is good for the holiday rental market – another reason why Albania has piqued property investor interest.

The country is expecting the numbers of tourists to increase steadily over the next few years and this means that property prices are also expected to increase at a modest rate too. Good news for property investors as it means not only will rental demand stay strong, but the property market will also grow at a manageable rate.

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Albania: Ancient Apollonia

Since the end of the Balkan war and independence in the early 90′s the Balkans have started to open up to tourism. Thus far, it has mostly been back packers and intrepid travellers who have made their way through this fabulous country.

Albania has had a bad reputation internationally and has been plagued by social and political problems. Currently the country is undergoing a massive internal change, huge amounts of investment have been poured into the infrastructure, the government is working with overseas advisors to implement change and there is a definite desire to be on a par with their neighbours such as Greece, Croatia and Italy.

The FT and The Lonely Planet Guide have listed this country as the top European destination for 2011 and there are many reasons why they are spot on in their estimations. Greece and Italy have been loved by tourists for decades and there is every chance that Albania will achieve the same accolades once it has had a chance to shine and show the rest of the world what a fabulous destination it is.

So what is it about Albania that has made Lonely Planet put this nation at the top of the list? Could it be the enormous potential for tourism that is about to erupt? This nation encapsulates an ancient history, beautiful landscape, a rich anthropology, traditions and culture. The Albanians are famous for their warmth and hospitality and the country has a vibrant, young society which should be a recipe for success.

Top ten considerations to buying overseas property and why Albania is the property hotspot for 2011:

1. Accessibility – Can you get to your new Albanian property without it costing you a fortune or taking you days? If you can’t than neither can your potential clients who might want to rent it… Albania has affordable low cost airlines flying from London airports weekly including the popular Belle Air. During the summer months when you are more likely to want to travel then the options for getting there increase. Plus two new airports are planned to open in Kukes and Saranda.

2. Location - Once you have landed it is important that the transfer to your new holiday home is simple and hassle free. Not all of Albania is easy to travel around although there is a great deal of investment being poured into infrastructure currently. Lalzit Bay Spa and Resort is just a 30 minute drive from Tirana International Airport making it a terrific choice. Albania as a whole is also fabulously located in Europe to be a stepping stone to other European and Baltic countries to continue your exploration!

3. Affordability – Non Euro is still a great bet. Obviously you will have set yourself a budget for this purchase but everyone likes to make a profit and buying in a non-euro zone does increase the opportunity for profiting greatly. Albania has some of the lowest property prices in Europe, even in the capital Tirana city “cheaper” apartments can be bought for €500 to €800 per square metre according to the Global Property Guide.

4. Country Infrastructure – Buying a property in the depths of nowhere might seem a great idea for a holiday escape but if you are hoping to let the property out then will others feel the same way? It makes sense to ensure your investment is in an area where there is a good road and rail network to open up the availability to as many people as possible to rent your property. Albania has had massive overseas investment which has resulted in a huge overhaul in transportation. For instance 100′s of km of new roads, new ports, overhaul of the rail network and expansion of the International airport of Tirana.

5. Environment – Having an overseas property near a beach is wonderful but that is not the be all and end all. By the time you have visited your property a few times you will want to explore further afield. Albania currently has two UNESCO World Heritage sites and there are a further three on the list waiting for approval. Albania is blessed with some of the most beautiful countryside and mountains in Europe and it would take a person a lifetime to explore all that it has to offer. How exciting to know that every time you visit your holiday home you can conquer climbing another mountain; go white water rafting, horse back riding or visiting a cultural site.

6. Reputable Sales Agent – Quite possibly the most terrifying bit of the entire procedure is getting this bit right. Here are some do’s and don’ts to help you:

• Do thoroughly check all the project details
• Do compare closely with other projects
• Do have the contract checked by a solicitor
• Don’t pay anything until a contract is in place
• Do visit the site for a look around
• Do insist on building progress updates regularly
• Do inspect the property for snags before making final payment

7. On-going Property Costs – A consideration that is often neglected on purchasing a property. It is no fun buying an affordable property and then discovering afterwards you cannot really afford the water or electricity. Labour costs in Albania are currently one of the lowest in Europe which is a great benefit when having work done. Albania has significant renewable energy resource potential from hydro, wind and solar energy.

8. What Else Is There To Do? - Often people buy properties and within a few years they have grown bored of the same view and beach. It is a good idea to chose somewhere with diversity. Albania offers 362km of mainly untouched coastline on the Ionian and Adriatic Seas. But is also offers skiing, trekking, caving, horse riding and much, much more. Tourism in Albania is still in its infancy but there is a great deal of almost untouched cultural sites which will develop as tourism develops within the country.

9. Economy and Tourism – Albania is well on the way to EU accession and has a target accession date of 2014, this will have a tremendous positive effect on property prices. The government is also pouring a lot of investment into the tourism sector which will further boost the economy in years to come. Government figures have estimated that the country will have received 3 million visitors in 2010 and The World Travel and Tourism Council expects this to grow by 5% every year until 2019.

10. Rental Opportunity – There are many countries in Europe that are currently flooded by oversupply of rental property – making it almost impossible to earn any rental income from an overseas investment. Emerging markets like the Central Baltic’s have the reverse and in fact suffer from a lack of accommodation that can offer luxury. Lalzit Bay Spa and Resort offers a completely unique opportunity that cannot currently be found anywhere in the emerging Baltic states.

Lalzit Bay Resort & Spa
Without a doubt one of the most exciting innovative developments underway in Albania is Lalzit Bay Spa Resort. Fully managed by an internationally renowned resort operator, Lalzit Bay Resort and Spa will provide 5 star amenities, service and unqualified luxury, making it one of the most desirable resort destinations in the Eastern Mediterranean.

According to Ravin Maharajah, Sales Director of Lalzit Bay & Spa Resort: “It is incredibly important to Albania that new developments being offered to foreign investors have the right international feel. It would be very easy to build mediocre developments but this is not going to attract long term investors and at Lalzit Bay Resort we feel that would be a very short term gain for the country” he goes onto say: “We are very proud of the development of Albania thus far and we are working very hard with tourism agencies to keep the positive momentum going.”

For more information contact Lalzit Bay on 0845 125 8600 or visit www.lalzitbay.com.

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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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Albanian law allows foreign property investors to own property and no permission or authorisation is needed. However, it is worth checking all land ownership deeds carefully as there have been some disagreements in the past – we advise employing a local solicitor who will be able to guide you through all the necessary paperwork. However, if you are looking to invest in real estate in Albania, you will need prior approval. You will also only be allowed to acquire construction land if the value of your investment is triple the value of the land itself.

Once you have found a property in Albania which you would like to buy, and a purchase prices has been agreed with the vendor, you will need to sort out a purchase deed. A purchase deed is a special form of purchase contract that is signed by both parties before an authorised notary. The purchase contract will contain essential details such as the property’s purchase price, and a definition of the property that is being bought. A certificate that has been issued by the Real Estate Registration Office that certifies that the that ownership title to the property is clear as of the date of the transaction will be attached to the purchase deed.

The vendor and seller will then determine when the property will be official handed over – this is normally the same day that both parties sign the purchase deed and the monies for the purchase have been handed over.

It is possible to get mortgages in Albania – to create a mortgage right over a property, a mortgage deed must be created and the mortgage deed must then be registered with the real estate register.

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