In the first eight months of this year, the Balkan nation of Albania received 3 million visitors according to figures released by the Albanian Minister of Tourism, Aldo Bumci recently.

Albania welcomed 300,000 more visitors than the same period last year, seeing a 16% increase in numbers as a result of improved infrastructure and quality of service according to the Minister of Tourism.

In recent years, Albania has experienced improved political stability and vast economic advances. There is considerable investment in infrastructure with the development of new roads, ports and airports which has led to increasing interest from foreigners by way of tourism and property investment.

Further figures indicate that 2.1 million out of the 3 million visitors were foreign citizens; while 870,000 were Albanians residing abroad.

Ravin Maharajah, Partner of award winning Lalzit Bay Resort & Spa, the 5* luxury residential development located on Albania’s Adriatic coastline comments,

“Albania is no longer a country hiding in the shadows thanks to an ever improving infrastructure and real GDP growth. Construction projects such as the $400m Tirana-Elbasan highway and increased frequency of flights most recently between London and Tirana have made huge contributions to rising tourist numbers. As well as this, the country has been experiencing high levels of positive publicity with the likes of legendary business magnet Donald Trump speaking of the rapidly growing Albanian property market at the RealEX conference recently and the famous American Albanian celebrity Eliza Dushku filming a documentary that will promote tourism and culture within the Balkan nation.

Maharajah continues, 

“In addition, Albania has become a distinctive emerging market and has been attracting firm interest from foreign investors with foreign direct investment (FDI) in Albania exceeding the $1 billion mark last year according to the UNDP Resident Coordinator. At Lalzit Bay we have seen an incredible level of interest with at least 70% of units released having already been sold.”

The introduction of luxury property developments such as the 5* Lalzit Bay Resort & Spa can provide the perfect investment opportunity to meet the growing demand for property for as little as €29,000 for a gorgeous studio apartment. The resort, recently voted ‘project of the year’ at the 2011 RealEx conference in Tiriana 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.

For more information please contact Lalzit Bay on 0845 125 8600 or visit www.lalzitbay.com.
 

At this year’s stylish awards ceremony for the RealEX International Real Estate and Construction Conference in Tirana, Lalzit Bay Resort & Spa was aptly named “Project of the Year 2011” much to the delight of the Albanian 5* resort.

On receiving the award, Ravin Maharajah, Partner at Lalzit Bay Resort & Spa commented,

“We are thrilled to be honoured in this way. We’ve spent a long time developing the final master plan with our global design studio resort planners Woods Bagot and we are delighted with the results.”

Maharajah continues: “We are keen to attract both local and international buyers, and to this extent, sustainability and environmental awareness are key factors in delivering what our customers want to buy. It’s also crucial that we help lead the way in developing a sustainable Albanian tourist economy which is now starting to grow quickly.”

The judges analysed the entries across a set of criteria including project design, sustainability, location and on-site services.

With this in mind, it is hardly surprising that the Lalzit Bay Resort and Spa project took centre stage with its high quality infrastructure and strong commitment to the environment using natural, recyclable materials in its construction as well as using timbers and local stone across the resort to ensure the design perspective is consistent with a beach resort. On a social level, Lalzit Bay also uses locally sourced materials that contribute to the local economies.

The awards were part of Albania’s 2nd RealEX conference held in the Palace of Congress in Tirana, Albania attended by Prime Minister Sali Berisha as well as construction and real estate professionals from across the globe. Impressively, the highlight of the evening saw American business magnet Donald Trump appear on a live video feed conducting a Q&A session on the real estate industry.

During the course of the 3-day conference, Lalzit Bay Resort unveiled their new 1:1000 scale model of the entire resort master-plan and will be presenting their grand design ideas in numerous countries in the coming months.

Indeed, while construction is in the final planning and scheduling stages, sales have been developing very quickly seeing rapidly growing interest in both Lalzit Bay and Albania with around 60% of pre-sale apartments released to the market having already been purchased.

For more information on the Lalzit Bay Resort & Spa project please call 0845 125 8600 or visit www.lalzitbay.com.
 

It is no secret that Albanians have maintained a deep love affair with the United States dating back to when President Woodrow Wilson, after World War I, stood up to the triumphant nations of Europe and asserted that Albania was a true nation and that its borders had to be protected and conserved. Since that day, Albanians have been the first to sing the praises of the American nation with millions making it their home.

Prior to World War I, Albanians migrated to the USA because of poor economic circumstances, political anxieties, or to flee military recruitment into the Turkish army with the hope of discovering greater opportunities and democratic freedom.  After World War II, Enver Hoxha and the Communists took the Balkan land over, sealing the country off from the rest of the world and when he died in 1985 along with the Communist regime, Albanians looked to the United States for guidance. This historical adoration for the USA was certainly highlighted when George Bush visited Albania back in 2007 and was greeted by deafening cheers and waving American flags, somewhat different to the icy reception and protests witnessed in other European countries with the tiny Albanian village in Fushe Kruge unveiling a statue of him, in a square named in his honour earlier this year.

Interestingly, when it comes to living in the United States, Albanians are the most recent group of Europeans to immigrate, settling across the country in places like Massachusetts, Michigan, Illinois and New York. Indeed, Albanians have become one of the most successful groups of immigrants, working and indeed owning all kinds of businesses including real estate, restaurants and construction companies as well as providing some talented actors including James Belushi and Eliza Dushku, supermodel Emina Cunmulaj and astronaut William G. Gregory as well as politicians and sporting stars to name a few.

Another famous face that has warmed to the charms of Albania saw America’s most famous property tycoon Donald Trump give a warm address via video link to construction and real estate professionals at a gala dinner at last week’s RealEX Awards in Albania, displaying a sincere interest in the Balkan nation without ruling out the potential opening of a future Trump Tower in Tirana.

As a way of continuing Albania’s and America’s relationship, Lalzit Bay Resort and Spa will be launching their US marketing programme this month with sponsorship of the first US – Albania Investment Forum.

Ravin Maharajah, partner in Lalzit Bay Resort and Spa, the 5* luxury residential development located on Albania’s Adriatic coastline comments,

“The first US-Albanian investment forum this month is a perfect way for Lalzit Bay Resort and Spa to build awareness of our product in the US, which we hope will prove very successful given the solid bond between the two countries and its people.”

The event organised by The Consul General of the Republic of Albania in New York and Developing Marketing Associates Ltd (DMA) will be launching the first US-Albania Investment Forum taking place on Monday 19th September 2011, at the 3 West Club in New York City. The event will provide a broad picture of the current economic climate and growing foreign investment in Albania as well as highlighting the vast investment opportunities within the country with representatives from multilaterals, ministries, the Bank of Albania, the private sector and business associations.

If you are an investor, Albanian expatriate, or agent in the USA and are interested in meeting with the Lalzit Bay team during our time in New York, please contact Peter Walshe on +44 208 734 3962 or through the website http://www.lalzitbay.com/contact-us.
 

According to Albania’s Central Bank, economic growth in the second quarter of 2011 will be around 3.4%, the same level registered in Q1 2011 with a forecast of lower inflation for the remainder of the year.

Over the past decade, Albania´s economy has enjoyed real GDP growth and despite the economic downturn in 2008, the Balkan nation was one of only two countries in Europe that not only recorded economic growth of 0.4% in Q1 2009 but also an impressive 6% growth from 2001-10, one of the strongest performances to have taken place throughout Europe.

In addition to economic growth, The House Price Index in Albania has once again increased by 1.6% during the second quarter of 2011 with The Bank of Albania stating that from the end of 2009 and throughout 2010, prices remained virtually unchanged indicating stability in the market which will come as positive news for those wishing to invest in property in Albania.

According to Albania’s Central Bank, increases in the house price index, which saw an overall average increase of 13.6% for the entire year back in 2009, are a reflection of the undervaluation of Albania’s currency, the Albanian Lek, and increased prices within the Albanian property market whilst rising demand, improved credit access and an increase in construction permits have also thought to have pushed up property prices.

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,

“Considering economic growth and stability within Albania (a recent poll by Arrowtrak of businesses in the region discovered that around 37% were considering investing into the Balkans) and with more overseas investment, Albania will see an increase in expats moving to the area which will in turn boost property prices. For example Lalzit Bay Resort is attracting the attention of the growing middle classes across the Balkans, with at least 70% of units released having already been sold. We have even had to release additional units to meet high demand.”

The 5* Lalzit Bay Resort & Spa can provide the perfect investment opportunity for as little as €29,000 for a gorgeous studio apartment. The resort will provide outstanding on-site facilities including a beach club, tennis courts and a wide choice of delicious international cuisines available in the restaurants.

For more information contact Lalzit Bay Resort & Spa on 0845 125 8600 or visit www.lalzitbay.com
 

The Balkan nation of Albania has seen 411,927 more tourists visiting the country between January and August this year than in the same period last year with the total number of tourists visiting Albania until August 8, 2011 standing at an impressive 2.15 million.

In addition, a record number of entry-exits were registered in border-crossing points all over the country with 57,255 people entering Albania within 24 hours on Monday the 8th August. The Albanian Prime Minister Sali Berisha stated in a meeting of the Council of Ministers last week that this trend turns tourism into one of the most important sectors of the Albanian economy.

But it’s not just incoming tourist numbers increasing. Indeed, the number of Albanians travelling abroad has also risen this year with around 347,000 having travelled overseas in Q1 2011 thanks to visa liberalisation.

As Albania slowly but surely places itself on the tourist map, the country has started to attract firm interest from foreign investors with foreign direct investment (FDI) in Albania exceeding the $1 billion mark last year according to the UNDP Resident Coordinator making the Balkan nation the second largest investment beneficiary in Southeast Europe after Serbia, and the only country in the region where investment has increased despite the global economic downturn.

Ravin Maharajah, Partner of Lalzit Bay Resort & Spa, the 5* luxury residential development located on Albania’s Adriatic coastline, comments,

“Albania is a distinctive emerging market one that investors can see potential in. There are vast monetary opportunities in Albania and investors want to take advantage of the growing tourist market, competitive business environment and of course the property development opportunities.

“We are proud that our 5* development lies within Albania and are delighted to be a part of its growth.  As tourism matures so does the interest in Lalzit Bay Resort & Spa development and it has become highly desired by domestic and international tourists and investors alike looking for properties away from the city close to warm sea waters and good old peace and quiet.” 

With ever rising tourist levels and plenty of foreign investment, Lalzit Bay is a very sensible choice for property investment costing from just €29,000 for a gorgeous studio apartment. The resort will provide outstanding on-site facilities including a beach club, tennis courts and a wide choice of delicious international cuisines available in the restaurants.

For more information contact Lalzit Bay Resort & Spa on 0845 125 8600 or visit www.lalzitbay.com
 

Albania’s tourism market continues to fly high this year with national flag carrier British Airways increasing the frequency of flights between London and Tirana, Albania’s capital.

The introduction of daily direct flights instead of the previous four days per week schedule is thought to be due to an increase in passengers wanting to explore the Balkan country.

In addition, BA has also reduced its ticket prices with a return ticket to London costing only €217 including taxes according to reports.

This excellent news comes just days after Albania’s Deputy Minister of Tourism Suzana Turku stated that Albania was visited by 1.2 million tourists between January and June of this year while revenue from tourism increased 8.5% in the first half of 2011 compared to the same period last year.

Ravin Maharajah, Partner of Lalzit Bay Resort & Spa, the 5* luxury residential development located on Albania’s Adriatic coastline comments,

“The future is looking bright for Albania. With high numbers of tourists already flocking to the country this year combined with the new daily BA flights, Albania is set to explode as a tourist destination in the next 5 years generating considerable revenue as highlighted in the findings. Albania’s biggest attractions, aside from its distinctive cultural and historical charm as well as a balmy Mediterranean climate, has to be the low cost of living and an ever improving infrastructure.

“Due to join the EU in 2014, this country shows every positive sign of going the way other Southern European countries such as Croatia and Montenegro have over the past 10 years. Interest from international second home buyers is steadily increasing as people realise the buying opportunity is now – not after the prices have gone up.”

Lalzit Bay Resort and Spa, a beautiful 5* beachfront development in Albania, just 45 minutes from Tirana, is fast becoming a desirable resort destination in the Eastern Mediterranean as well as an attractive investment choice.

From as little as €29,000 for a studio, Lalzit Bay Resort and Spa provides holiday makers with superb on site facilities including a beach club, tennis courts and a wide choice of delicious international cuisines available in the restaurants.

Lalzit Bay will become one of the most sought after resorts in the Eastern Mediterranean as well as an appealing 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
 

According to Albania’s Deputy Minister of Tourism Suzana Turku, Albania was visited by 1.2 million tourists between January and June of this year while revenue from tourism increased 8.5% in the first half of 2011 compared to the same period last year.

Further data reveals that 94% of the total tourist arrivals into Albania this year were European, with 34% of tourists arriving from neighbouring Kosovo, 16% from Macedonia and 10% from Montenegro.

Other European visiting nations included Greece (8%), Italy (6%) and Germany (3%) whilst globally 3% of Americans, 2% of Asians and 1% were noted as others who had the Albanian attraction in H1 2011.

Ravin Maharajah, Partner of Lalzit Bay Resort & Spa, the 5* luxury residential development located on Albania’s Adriatic coastline comments,

“Without a shadow of a doubt, Albania will burst forth as a tourist destination in the next 5 years generating considerable revenue as highlighted in these latest findings. Albania has rebranded itself offering a low cost of living, rapidly-developing infrastructure and striking physical beauty, all the ingredients needed for the perfect tourist destination.

“Due to join the EU in 2014, this country shows every positive sign of going the way other Southern European countries such as Croatia and Montenegro have over the past 10 years. Interest from international second home buyers is steadily increasing as people realise the buying opportunity is now – not after the prices have gone up.”

Lalzit Bay Resort and Spa, a beautiful 5* beachfront development in Albania is fast becoming a desirable resort destination in the Eastern Mediterranean as well as an appealing investment choice.

From as little as €29,000 for a studio, Lalzit Bay Resort and Spa affords holiday makers 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 resorts 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

After years of hard work, routine and commitment, retiring to a place in the sun is the ultimate dream for many seeking a calmer pace of life, warm climate and enhanced travel opportunities whilst physical and financial resources are still available. With this in mind, it’s hardly surprising that 1 in 8 Britons rapidly approaching retirement has a keen interest in retiring abroad according to research from the Centre for Future Studies (CFS).

But it’s not just traditional European destinations such as France and Spain that hold so much appeal for retirees nowadays. There are a growing number of emerging destinations in Europe that are grabbing the silver hair market’s attention.

The Balkans have seen many retirees, including a large number of Brits purchasing properties in countries like Turkey, Croatia and Albania, voted number 1 in Lonely Planet’s Top 10 destinations for 2011, snapping up bargain properties for a far cheaper price compared to Spain or France.

Albania, located on the Adriatic and Ionian coasts, with its spectacular scenery, unspoilt beaches, archaeological sites and ancient monuments, only a 45 mile hop from Italy across the Strait of Otranto is fast becoming a big attraction for international property investors, large corporate companies and holidaymakers, seeing a 45% increase in property enquires in 2011 according to Homesgofast.com.

In addition, the Tirana airport upgrade and daily British Airways flights to the capital have made travelling to and from the country much simpler, a positive attraction for holiday makers and potential retirees as well several million from the Albanian diaspora that live abroad principally across Europe and North America who now have better access to their families back home.

Furthermore, one mode of transportation typically associated with the older generation, cruise liners, is growing in popularity with at least 1 in 9 package holidays taken by Brits being a cruising break with 40% of all cruises departing from a British port according to research from the Passenger Shipping Authority.

SAGA Holidays, the specialist provider of holidays for the over 50s has recognised the significant demand for cruises by creating a new touring holiday, From the Adriatic to the Aegean, that will allow visitors to embark on a 9 day exploration of Balkan nations Albania, Macedonia and Greece providing the perfect opportunity to sample a little known slice of the Mediterranean and gain a greater insight into Albania as a potential retirement location.

Ravin Maharajah, Partner of the 5* Lalzit Bay Resort & Spa located near the port town of Durres, in Albania explains,

“Albania is undoubtedly in its infancy for tourism but we are anticipating seeing a steady increase in over the next couple of years. Certainly, people are recognising that the Balkans, in particular Albania, is a worthy alternative to more traditional European retirement hotspots; this is why we applaud SAGA’s Adriatic to the Aegean touring holiday.

Those approaching retirement are beginning to show a greater interest in less commercially popular destinations seeking cheaper properties that of course provide a mild climate and a welcomed change of scenery but also a place where the cost of living is low yet the standard of living is high. And for these reasons Albania ticks all the boxes.”

Lalzit Bay Resort and Spa, a luxury beachfront development in Albania is fast becoming the desirable resort destination in the Eastern Mediterranean as well as an attractive investment choice, perfect for those seeking something different.

The 5* resort provides high-specification villas and apartments from as little as €29,000 a fraction of the cost of buying a home in one of the more established European resorts. Lalzit Bay is surrounded by superb on site facilities including a beach club, tennis courts and a wide choice of international restaurants.

For more information contact Lalzit Bay Resort & Spa on 0845 125 8600 or visit www.lalzitbay.com.