Double digit property price growth seen in Albania in Q3 2011
According to the budget bill passed by the Albanian parliament recently, Albania is predicted to see its budget deficit drop to 3% of GDP next year with economic growth reaching highs of around 4.3% despite the debt crisis and economic turmoil raging through the globe.
To coincide with this positive news, Albania’s House Price Index rose 10.3% year on year in the third quarter of 2011, according to data from Albania’s Central Bank while the Rental Price Index recorded a slight increase of 1.1% on the year in Q3 2011.
Ravin Maharajah, partner of Lalzit Bay Resort & Spa, a five star luxury residential development located on Albania’s Adriatic coastline comments,
“With growth in the Balkan region predicted to be around four times higher than the 0.5% growth the EU is expected to post next year, those wishing to invest in property will be making a sensible choice if they look in Albania’s direction. Indeed, demand for property in Albania this year has been on the up and in light of 2012 predictions will no doubt continue as property hunters search for alternative options.
“For example, the international market is starting to wake up to Albania’s potential as a beach holiday destination which has generated excellent demand during the pre-sales stages of Lalzit Bay Resort & Spa and in turn, we are expecting remaining villas and apartments in blocks C and D to continue to sell well within the next few months.”
With this in mind, the team at the 5* Lalzit Bay Resort & Spa are pleased to finally announce the construction of the resort which will commence on the 4th January 2012 with delivery firmly on schedule for 2013.
Ravin Maharajah explains,
“We are excited to be starting work next year on our award winning development and will be making some very exciting announcements in Q1 2012 regarding the facilities that will be on offer at “The Adriatic Club”, Lalzit Bay’s exclusive members club.
“Additionally, we’ve kept prices at the same rate for all of 2011, however, as with most construction projects like Lalzit Bay Resort, prices will be rising to reflect the changing status of the project so if you are considering buying then you are urged to act quickly to secure the best deal.”
Providing 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, tennis courts, restaurants and water-sport activities.
For more information please contact Lalzit Bay on 0845 125 8600 or visit www.lalzitbay.com.