Property prices in Albania rise by 1.5% according to latest official data
According to the Bank of Albania, real estate prices in the Balkan nation increased by 1.5% during Q1 2011 compared to a 0.9% increase in the same period in 2010.
Further research from The Bank of Albania states that from the end of 2009 and throughout 2010, prices remained virtually unchanged indicating stability in the market.
It is suggested that heightened apartment prices in Albania are a result of rising demand, improved credit access and an increase in construction permits after a reduction throughout 2010.
Ravin Maharajah, Partner of Lalzit Bay Resort & Spa, the 5* luxury residential development located on Albania’s Adriatic coastline comments,
“There are numerous upward forces being applied to land and property prices in Albania – increasing infrastructure investment, EU accession progress and vast differences in property prices between close neighbours such as Croatia.“
Maharajah further explains,
“Lalzit Bay Resort has easy access to new international air and road transport routes and is attracting the attention of the growing middle classes across the Balkans. We are finding people priced out of the Croatian market who now consider Albania as an alternative holiday and second home destination.”
The 5* Lalzit Bay Resort & Spa can provide the perfect investment opportunity for as little as €29,000, offering high-specification villas and apartments surrounded by superb on site facilities including a beach club, tennis courts and a wide choice of international cuisines on offer in the restaurants.
Lalzit Bay will become one of the most desirable resort destinations in the Eastern Mediterranean as well as an attractive and attainable lifestyle and investment choice for those wanting a superior second home in the sun or indeed a buy to let property abroad.
For more information contact Lalzit Bay Resort & Spa on 0845 125 8600 or visit www.lalzitbay.com