Lonely Planet, last week, announced their top 10 places to visit in 2011. Albania hit the number one spot!
The respected travel company enthused: “Since backpackers started coming to elusive Albania in the 1990s, tales have been told in ‘keep it to yourself’ whispers of azure beaches, confrontingly good cuisine, heritage sites, nightlife, affordable adventures and the possibility of old-style unplanned journeys complete with open-armed locals… Albania won’t be off the beaten track for much longer.”
And with tourism arrivals reportedly up by 36% in the first half of 2009 (compared to the same period in 2008) and the Government expecting up to 3 million visitors by the end of 2010, it could be that the secret is already out! Holiday makers and property investors alike are beginning to focus on this emerging Balkan hotspot.
Ravin Maharajah, Albanian resort developer offers five top reasons why property investors should consider Albania:
1. EU accession is expected in 2014– and with it will come the Euro which will undoubtedly mean property prices will rise. So best beat the Euro and buy now.
2. Global investments in infrastructure – massive overseas investment has meant that Albania is benefiting from 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
3. Location Location Location – Albania is the perfect stepping stone for travelers to explore central Europe. This used to be the exclusive right for intrepid backpackers – but not so anymore. With Montenegro, Croatia, Serbia and Kosovo to the North, Macedonia to the East and Greece lying to the South, your options are endless. Italy is 60 km west of Albania and a ferry service operates to Puglia.
4. Beautiful Scenery – Unexplored, untouched natural beauty – Albania has great diversity. A coastline which boasts 450 km of lagoons and wetlands and beaches, the largest tectonic lake in the Balkans and vast mountain ranges which offer anything from hiking and caving to skiing.
5. Cosmopolitan Capital – Tirana is truly a cross between Western Europe and old Russia, with a sprinkling of the Middle East thrown in. It has triumphed over its recently troubled past to emerge as a jewel in Eastern Europe. Its population has nearly doubled in the last eight years and Tirana has reinvented itself to become an energetic, vibrant, cosmopolitan city, worthy of exploration.
With so much going for it, Albania should be a serious contender for savvy investors looking to branch away from mainstream Europe and have a taste of something new and exciting.
As the Lonely Planet goes on to say: “Not just the preserve of the adventurous, Albania is a warm sincerely hospitable country – with enough rough edges to keep it interesting.”
Ravin Maharajah, of Lalzit Bay Resort and Spa, an upscale frontline resort development just north of Durres, says:
“100% capital growth has been seen in the last 5 years and Albania still offers some of the lowest prices for quality coastal property. Our Lalzit Bay development is just a 40 minute drive from Tirana and set in an area of outstanding beauty.”
Prices on the development start from only €50,400 and guaranteed rental yields are being offered on Phase I only at 6% per annum for two years. For more information please go to www.lalzitbay.com or call 0845 125 8600.