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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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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The last year has been one of mixed fortunes with traditional second home destinations such as Spain, Italy and Greece still feeling the harsh effects of the economic downturn whilst other mostly non-Eurozone countries such as Brazil, Turkey and Egypt flourished.

Overall levels of property investment rose in 2010 compared to 2009 with savvy investors capitalising on the bargains available as the property cycle reached bottom. Below market value residential developments such as those in Florida sold quickly as did properties with rental guarantees and finance packages as buyers sought security and minimal monetary exposure.

This more cautious approach to purchasing property is set to remain throughout 2011 so where is the best place to invest in safe, secure and high yielding property in 2011? The experts at Experience International, leading property agents, offer their top locations to invest in 2011:

United Kingdom
“Familiarity with the domestic market and buying procedures should make many, especially first time buyers, confident about investing at home in 2011″ comments Steve Worboys, MD of Experience International.

Rightly so, as property prices have indeed fallen quite considerably in recent times but the old adage of location, location, location still rings true. The capital cities of London and Edinburgh have seen prices remain stable and even grow by up to 9.9% in the last quarter (compared to Q3 2009) in line with positive quarter on quarter GDP growth nationally.

Alternative asset classes such as hotel rooms in these city centre locations will prove the most lucrative investments in 2011. London’s hotel market leads the way in Europe with an 8.5% growth in revPAR (revenue per available room) recorded in Q2 2010 according to Deloitte’s Hotel Market Outlook report.

With increasing numbers of Middle Eastern and Asian investors eying up prime London hotels, UK investors should move quickly to secure double digit returns such as those offered at the new Holiday Inn West India Dock Road. Available 19% below independent RICS valuations and fully managed & operated by global hotel brand, Holiday Inn, rooms in the 4* hotel are selling fast from £189,000.

Brazil
The South American BRIC nation secured its position as an economic success story in 2010 with ex-President Lula da Silva leaving a legacy of progressive fiscal policies, a rising middle class and a GDP growth rate forecast at an impressive 7.5% for 2010 according to the latest IMF World Economic Outlook report, considerably higher than the global average of 4.8%.

Entering 2011 in the hands of Da Silva’s successor, Dilma Rousseff, optimism remains high for continued economic prosperity and societal development. As Vince Cable, UK Secretary of State for Business remarked on a recent visit to Brazil, “The centre of gravity of the world economy is moving, and Brazil is at the heart of that.”

The future is happening now in Brazil with the rising middle classes driving demand for affordable social housing throughout the country as well as international buyers propelling the second home market, especially in the north eastern states. Leading holiday rental site, HomeAway.co.uk, reported a 71% increase in booking enquiries for Brazil during Q2 2010 and a number of new residential developments such as Tambaba Country Club Resort in Paraiba and Caponga Beach Village near Fortaleza are commencing construction in order to meet buyer demands.

Further south, Brazil’s second city, Rio de Janeiro, is tipped as a property hotspot in 2011. The R$8 billion regeneration project known as Morar Carioca, will see vast improvements in infrastructure and modernisation of housing by 2020 in the metropolitan regions of the city including Copacabana, Leblon and Maracanã. In addition the R$ 34 billion bullet train connecting Sao Paulo to Rio has been given the green light with the contractor expected to be announced shortly.

The discovery of the Libra oil field just off the coast of Rio also spells good news for investors as up to 15 billion barrels of oil could be extracted making Brazil’s one of the world’s top 10 oil producers.

Istanbul
From BRICS to CIVETS (Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa), Turkey has, despite not yet being an EU member, emerged as the shining star of Europe in 2010 – as tipped by the experts at Experience International twelve months ago.
Steve Worboys comments, “From an investment perspective, the economic powerhouse of Turkey, Istanbul, remains the best bet for 2011 with the city where east meets west presenting a rare window of real estate opportunity where demand vastly exceeds supply with over 250,000 housing units required each year.”

One of the fastest growing megacities in the world, the population of Istanbul is set to reach 15 million by 2023 (Turkish Statistics Institute) placing massive pressure on existing housing stocks. In response the “City of the Future” as Istanbul has been heralded by National Geographic, is seeing the development of modern western style homes in the burgeoning suburbs such as Beylikdüzü on the European side of the city.

Highly popular with Istanbulites, Beylikdüzü has seen rapid growth and infrastructure investment in recent years with the Tourium shopping centre opening in 2010 (expected to attract 1 million visitors per month), the new Metrobus line connecting the suburb to the city centre set for constructed in 2011 and Turkey’s largest airport at Silivri, in the next district, given the go ahead by the city’s Mayor.

Property prices in the city are steadily rising as the market establishes itself however high quality apartments in prime locations such as Crystal Heights in Beylikdüzü remain affordable from £68,000 with a 2 year 7% rental guarantee and 70% finance available.

Morocco
One of the hottest property markets of the last decade, not just in terms of climate but investment potential – Morocco – may well be one to watch in 2011.

As part of the Plan Azur, Morocco witnessed a significant property boom especially along the Atlantic and Mediterranean coasts which ticked many of the boxes as Spain in the early 1970′s namely year round sunshine and a low cost of living.

The North African nation has seen resurgence in visitor interest over the last 12 months with HomeAway.co.uk recording a 55% increase in booking enquiries this year with average weekly rates for two and three bedroom properties at £452 and, respectively, £746.

10 million tourists are set to visit Morocco in 2010, an impressive 14% growth compared to 2009. Tourism revenues of 56 million dirhams are expected with the sector accounting for 10% of GDP which is forecast to increase by 4.5% by the end of 2010.

With BA announcing new thrice weekly flights from London Gatwick to Marrakech and the new Mandarin Oriental opening in 2011, a city centre purchase may well be a shrewd investment.

For more investment on investing in the UK, Brazil, Istanbul or indeed Morocco in 2011, contact the experts at Experience International on + 44 (0) 207 321 5858 or visit www.experience-international.co.uk.

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Turkey’s second city and economic powerhouse, Istanbul, has become a honey pot for international investors with the number of foreign investors planning to establish businesses or expand their operations in Istanbul up by over 6% in the first half of 2010 (compared to the second half of 2009). The ITO released data also revealed a 27.16% increase in the total value of these investments for the same period.

Steven Worboys, MD of the UK based Istanbul property investment experts, Experience International, comments, “Istanbul has proved one of our most successful property investment opportunities of 2010. We have clients from not only the UK but Ireland, Scandinavia, South Africa, Australia, and the UAE capitalising on Istanbul’s significant housing shortage and investing in the domestic property market.”

In the first half of 2010 over 1,400 foreign investors established companies within Istanbul with the total value of capital investments made in this period up by a remarkable 44.68% compared to the last half of 2009.

As Worboys remarks, “International investor confidence in Turkey and more specifically Istanbul remains high. Being located outside the troubled euro zone is of great appeal and Turkey appears to have side-stepped the negative effects from neighbouring Greece.”

GDP forecasts for the remainder of 2010 currently sit at a healthy 6-7% and with additional support for candidacy from the British Prime Minister, David Cameron, on his recent visit, accession to the European Union looks ever more likely for Turkey.

For those considering investing in Istanbul then one particular real estate opportunity should not be missed. No1 Knightsbridge comprises 1, 2 and 3 bedroom luxury apartments located in the burgeoning suburb of Beylikduzu, on the European side of the city. Currently Istanbul has a housing shortage of some 250,000 units per annum and so rental demand is high. Only 20% of units are available to overseas buyers and can be purchased from as little as £23,250 with 70% finance available for EU members.

For more information please contact the experts at Experience International on +44 (0) 207 321 5858 or visit www.experience-international.co.uk.

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However many investors are now looking to buy again although many are looking to buy properties in established markets which appear to be relatively stable – and France, with it’s fairly stable property market and solid financial system appears to be heading up the list.

British buyers in particular appear to be quite keen on French property, however instead of mortgaging their own homes, they are looking for Euro mortgages. This is partly because many are hoping to stretch their cash further as, if expected, the pound starts to strengthen against the Euro in the long-term. At present, the Euro/sterling exchange rate is fluctuating however many financial experts believe that the sterling is undervalued and will rise again in the medium-term.

Overseas property investors are still able to take out Euro mortgages in France where banks are happy to lend to foreign investors – unlike their counterparts in Spain and Greece who have been hit hard by defaulting customers. It is still possible to borrow 100% of the property price, although a LTV ratio of 85% will generally see a much better rate of interest.

Despite having a relatively stable property market, prices have fallen across France by around 15% from their peak so there are plenty of excellent properties to choose from. Properties away from hotspots such as in the Riviera offer great value for money however they may take a lot more marketing and drive to rent out on a regular basis.Properties in hotspots are, of course, higher however they will be easier to rent out on a regular basis.

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Based in new, luxury offices in Marbella, Spain and within FOC’s headquarters in Guernsey in the Channel Islands, The Fractional Group is the most comprehensive “one-stop shop” for shared ownership. Its team of real estateand investment professionals handle general questions, sales, financing, management, marketing and even furnishing issues.

The Fractional Ownership Consultancy (FOC) is the UK authority on shared ownership. For over nine years FOC has led the way in providing developers with the legal and administrative framework for selling and managing the most successful shared ownership products in Europe.

The Vigia Group’s Parque da Floresta in Western Algarve was the first to sell property in fractions supported by FOC knowhow. The Oceanico Group use FOC’s fractional structure on many of its resorts across Portugal using brand names like Stepping Stones and Prestige Fractional. Acordo adopted the FOC model for its ultra modern homes at Bom Sucesso and Barrasford & Bird have also adopted it for its new project in Samos. Today FOC’s fractional portfolio spans well known resorts in Spain, Portugal, Greece, Cyprus the US and the UK.

The Fractional Group is now offering an even wider range of exclusive, luxury properties built by some of Europe’s largest and most trusted developers.

CEO of Fractional Ownership Consultancy Jerry Cobb says: “Clients as diverse as Taylor Woodrow Espãna and AquaPura in the Douro Valley show that The Fractional Group is dedicated to bringing the consumer the very best investment and leisure products in every price range. FOC’s unrivalled knowledge of the fractional property market and our sales pedigree is encouraging many more developers to sign up with us. Just watch this space.”

The first of many developments to be launched by The Fractional Group will be the Alhaurin Golf Resort on the Costa del Sol. Fractions start from just €25,000 for a 12th fraction (4 weeks use per year) and owners can play free golf at a variety of courses as part of the purchase. There is 100% financing available to purchasers subject to status.

For further information, please visit www.thefractionalgroup.com and www.fractional.net or contact:
Kerry Clark, Tideway Communications, 020 8878 0787
kerry@tidewaycommunications.com

Wayne Piercey, The Fractional Ownership Consultancy, 01481 747803
wayne.piercey@fractional.net

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Greece is currently just one of two countries in Europe that does not have a land register and Public Works and Environment Minister Giorgos Souglias has announced a new process for listing millions of unregistered properties around Greece. The new process is expected to see around three million Greeks declaring their properties for inclusion in the first comprehensive land register compiled for the country.

People who own property in 107 areas are required to start submitting paperwork so that their property can be included on the land registry. The deadline for completing the paperwork for people living in Greece is 30 September 2008, whilst those living abroad have until 30 December 2008 to complete all the necessary paperwork.

To register one property costs 35 Euros, with a further 20 Euros payable for extra registrations such as separate storage rooms or parking bays. For property owners who need some help or advice on the forms, there are 76 land registry offices dotted around the country who will be able to help. The forms can also be filled in online.

Read our free guides to property in Greece here.

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It is believed that around 40% of the Mediterranean coast is cluttered with buildings and infrastructure and unless something is done, it is estimated that over 50% of coastline will be built on in the next few years.

The ban isn’t solely about preserving the coastline – it is also about fighting climate change. As the world warms up, it is expected that the sea level will rise and this in turn could affect any properties built on or near a coast. The ban will also allow areas with stunning coastline to remain beautiful and unspoilt.

It isn’t the first time a coastline building ban has been introduced – France paved the way 22 years ago, setting an example for other countries in terms of heritage and beauty preservation and reducing land grab.

The new legislation, when it comes into force, will be good news for property investors who already own property that has been built inside of the 100 metre area as demand is likely to outstrip supply and this will push the property price up.

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Compared to nearby countries such as Spain and Portugal, property prices are surprisingly low even though there have been recent changes in laws to free up some of the restrictions on foreign buyers buying Greek properties. There are relatively few overseas property investors in the country as the market is still in it’s infancy therefore now is an ideal time to invest.

EU nationals are permitted to purchase property in most Greek regions although if you are planning to buy near a border, you may require special permission. Mortgages are freely available in Greece so it is advisable to research whether you are better off getting a Greek mortgage, or a mortgage from your home country. Greece also has a number of islands which can be purchased whole, although these tend to go for a premium price.

If you are buying a Greek property valued at over €12,000 you will be required to hire a lawyer. If you are buying a Greek property for under €12,000, it is still advisable to hire a local lawyer who will be able to guide you through all the relevant laws, customs and bye-laws.

Once you have found a property in Greece that you would like to buy and a price has been agreed, a pre-contract agreement is signed and a deposit of 10-30% is normally put down. If the buyer breaks the pre-contract agreement, the buyer will lose their entire deposit; if the seller breaks the pre-contract agreement, the deposit will be returned to the buyer along with a penalty fee (which is normally around the amount of the deposit and should be written into the pre-contract agreement).

The buyer’s lawyer will then check with the Land Registry that everything is in order. A Greek tax number must then be obtained by the overseas buyer from the Greek Tax Authorities. Once this tax number has been obtained, the sale can proceed. The contract must be witnessed by an authorised Notary, and the remainder of the monies owed will now be transferred.

It is wise to budget around 10-15% of purchase price for fees – the Notary fee alone is normally around 2% of the property purchase price.

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