Forget Spain and France! Brits cash in on falling Euro and bag a bargain in Albania
Does the thought of traveling to the usual hotspots of Spain, Greece and France no longer appeal? If the desire to expand one’s horizons in search of ancient history, imposing mountains and calm blue waters seems more tempting than fighting for a square inch of beach to lay your towel on the Costa del Sol, the Adriatic nation of Albania might just make for the perfect summer destination this year.
Experiencing tropical temperatures of up to 40 degrees, Albania’s climate is second to none, boasting 200 days of sunshine a year which gently dazzles upon the nation’s 370km Adriatic coastline and striking mountainous landscape. It’s hardly surprising that Walks Worldwide, a leading UK trekking holiday organisation is expecting great success with their trip to The Mysterious South of Albania this September following last year’s success with the “Accursed Mountains” of northern Albania trek subsequently becoming their best-selling trip.
As one of the hottest emerging destinations with 4 million visitors last year, Albania’s appeal has increased steadily. Albania Holidays a leading Destination Management Company explains: “This year our company has increased co-operation with the UK growing our partner numbers twofold which has resulted in an increase in the number of organized UK travelers from 100 last year to around 300 this year. Consequently, we have seen a 10% increase of the total number of visitors who have booked with us compared to 2011.”
Meanwhile, for those who fall in love and want to return to this stunning Balkan land, potential property buyers will be pleased to know that the pound has strengthened to its strongest level since November 2008 against the Euro. With this in mind, buying an apartment or villa on one of the most exclusive beach communities in Albania, one that lists prices in Euros, could present a worthwhile opportunity for an excellent value for money purchase.
Robin Haynes, director of FX specialist Currency Index comments: “The ongoing Euro crisis has weakened the single currency, giving us the best rates for buying Euros since late 2008. Combined with falling property prices in much of Europe, this is giving Brits an opportunity to buy holiday homes at bargain prices. Nobody knows whether rates will continue up or come back down, but with the UK economy far from healthy, a lot of buyers are taking advantage and buying now in case exchange rates fall.”
Indeed, Albania offers some of the lowest prices and taxes across Europe and along with resilient economic growth over its other European counterparts in the south east region offers plenty of opportunity for property investors.
Ravin Maharajah, Partner of Lalzit Bay Resort & Spa, the 5* luxury residential development located on Albania’s hotly tipped Adriatic coastline comments,
“Rising tourism levels founded on not only new regional transport infrastructure (road and air) and economic improvements but a greater awareness about what Albania has to offer in terms of beaches and scenery continues to increase demand not just for holidays but for accommodation. The weak euro has meant that we have seen an increase in potential UK buyers wanting to take advantage of the amazing value they can get on a €30,000 property at Lalzit Bay. We have seen a lot of interest from US buyers too which is encouraging.
“It is also important to point out the rental opportunities available at Lalzit Bay. We expect there to be strong rental demand based on the exclusivity of the resort, the facilities on offer and the quality of the finished properties. We have estimated that a 2 bed apartment costing €70,000 will generate rents of €500 per week over the peak summer months at 75% occupancy giving an annual gross rental income of €6,000 – that’s an overall rental yield of 8.57%.”
Lalzit Bay Resort and Spa offers a premium, exclusive product to investors who want the benefits of villa ownership including private gardens and terraces, exclusive services and more privacy as well as a range of facilities including private swimming pools, a BBQ area, tennis courts and superb restaurants for as little as €30,000.
For more information on the Adriatic’s secret jewel please contact Lalzit Bay on 0845 125 8600 or visit www.lalzitbay.com.