A Phoenix from the ashes – Albania set to soar with 32% increase in tourism

by Charlotte Ashton Albania

Although still one of the very few European countries left to be explored, Albania is slowly but surely starting to gain a foothold in the lucrative tourism market, seeing 3.5 million visitors last year, an impressive increase of 32% over previous years and it looks as though Albanian authorities are maintaining a further positive outlook.

Endri Jorgoni, Chief of Cabinet in the Albanian Ministry of Culture and Tourism explains his optimism,

“Our expectations are based on the improvements we have done in infrastructure and improvements of the tourist environment in general."

As a tourist operator in the capital Tirana, Dritan Xhengo, has been in the industry for eight years and suggests that there has been an extraordinarily positive change compared to previous years mainly because Albania is cheap and can provide tourists, usually from Britain, Finland, Denmark and Italy, cultural tourism or archaeological tours away from the norm.

Property expert Ravin Maharajah explains why Albania was chosen as the destination for his new 5* resort development – Lalzit Bay Resort & Spa,

“We firmly believe that Albania is going to explode as a tourist destination in the next 5 years.  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. For now, Albania benefits greatly by sitting outside the Euro and this means that the cost to our investors is hugely reduced.”

Indeed, Albania´s economy has improved substantially over recent years and has outperformed many other countries in the region with heavy infrastructure investment in the Balkan nation, including main road pathways. The 170km highway for instance linking Durres, the second largest city in Albania with Kosovo has provided a major corridor for transportation making connections to and from the area easier for residents and tourists alike as well as the Albanian airline Belle Air introducing a twice weekly direct flight from Stansted to the capital, Tirana, in addition to the daily BA flights from Gatwick.

Lalzit Bay Resort and Spa, a beautiful beachfront development in Albania is fast becoming the buyer’s choice for a resort destination in the Eastern Mediterranean as well as an appealing investment choice.

Partner of Lalzit Bay Resort and Spa, Ravin Maharajah comments,

“At Lalzit Bay Resort and Spa we are offering knowledgeable investors the opportunity to become a part of this growth economy. Investors can purchase studios, one or two bedroom apartments or villas in a divine Mediterranean location from as little as €29,000, a fraction of the cost of buying a home in one of the more established European resorts, demonstrating to international buyers the huge opportunities that Albania presents. Owners also have the benefit of a fabulous beachfront holiday resort to enjoy with family and friends or to rent out to holiday makers.”

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

PIGS are passé; it’s time for Albania mania!

by Charlotte Ashton Albania

 

Maybe travelling to Portugal, Italy, Greece and Spain has become a bit samey or perhaps the Euro has taken its toll on our ever stretched pockets? Maybe the British have become more intrepid as travellers and desire to expand their horizons away from ‘The English Pub’ on the Costas and fighting for a square inch of beach?
 
Whatever the reason there is no doubting that the Balkans are becoming a hot holiday destination within Europe with Albania causing quite a stir with very good reason.
 
Hailed as “one of this year’s most intriguing prospects” by the Financial Times and listed as the top European destination for 2011 by the auspicious Lonely Planet Guide, Albania, the land in which Norman Wisdom is revered, is receiving ever more interest. 
 
The portal ‘Homes Go Fast’ recently released figures that show enquiries for property in Albania are up 45% year-on-year, particularly astonishing when compared against other more established second home markets which at best have remained static or at worst seen decreases.
 
So just what is it that Albania is offering to make it so popular this summer?
 
ü      The weather – July and August have average temperatures of 30˚C and rainfall during those months is usually less than 50mm.
ü      The sea is the Adriatic or Ionian depending on how far south you might find yourself. Both of these offer clear waters easily reaching a very warm 27˚C in the summer
ü      The price – being not yet a Euro member and still an emerging country has proved advantageous with the cost of dining out significantly less in Albania. The Thomas Cook travel guide suggests a good meal in a restaurant will cost around £7.
 
 
But what about the family? Here are some highlights that should keep everyone happy.
 
The beautiful safe beaches with warm seas are sure to keep young children amused. For a guaranteed sandy beach then head for the north of Albania to Lalzit Bay for example. Here the opportunity to build endless sandcastles and paddle in the warm waters of the Adriatic will mean a perfect holiday for tired parents as well as the kids.
 
Older children will absolutely love the Aquadrom in Tirana. With four varied pools and plenty of adventure slides this will be a big hit with the family.  Alternatively for fun on dry land head towards one of Albania’s fabulous castles. Steeped in history and dating back as far as the 3rd century BC, these medieval gems will surely have children romping around the ramparts.
 
Almost every town in Albania has traditional fairground rides and the evening is the time to head for the centre of town. Traditionally in the evening Albanians will take a gentle stroll with their families along the Xhiro (promenade) and enjoy the balmy evening while the children get spoiled with ice cream and a ride on the carousel.
 
Teenagers can be notoriously hard to please but hopefully not in Albania. The larger beaches offer all you could want in the way of modern watersports. Snorkelling is good in the south around the rocky headlands with lots of opportunity for diving off rocks into the clear blue waters or just generally messing around in rock pools.
 
A four-wheel drive tour up country will have the whole family experiencing a terrific adrenalin rush or why not spend a day mountain biking and seeing the country from the saddle. If you are feeling hugely adventurous then white water rafting is also available in the spring / early summer.
 
The nightlife in Albania, it can be fair to say, hasn’t yet reached Western standards but the demand from the youth of Albania is ensuring rapid development. In the capital Tirana itself there are many night clubs and bars (karaoke bars are proving very popular!) and there are a growing number of sophisticated wine bars that are frequented by elite Albanians and overseas visitors.
 
If however you are holidaying along the coast then the night life will be more relaxed. Restaurants and bars provide excellent entertainment, often with local music and traditional dance to enjoy. But for young people the place to go is the beach. The port town of Durres is particularly renowned for beach parties which can go on to the early hours of the morning. 
 
Property expert, Ravin Maharajah comments on why they selected Albania as the destination for their new 5* development in Lalzit Bay:
 
“We firmly believe that Albania is going to explode as a tourist destination in the next 5 years. 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.
 
“Albania benefits greatly by sitting outside the Euro and this means that the cost to our investors is hugely reduced.  Buying an apartment or villa at Lalzit Bay Resort and Spa is farcheaper than buying the same property in Greece or Croatia. We have priced the development very realistically and it demonstrates to international buyers the huge opportunity that Albania poses – apartments starting from €29,000 is amazing value in this quality of resort.
 
“Currently there is every indication that our development will go through the major transition that the neighbouring countries have done and these properties will be worth a great deal more in the next 5 to 10 years – we are confident that investors should be able to make a very strong profit before the project is even finished.”
 
For more information on visiting and investing in Lalzit Bay please go to www.lalzitbay.com or call 0845 125 8600 today.
 
 

Invitation: Lalzit Bay Resort and Spa Launch Party – Tirana, Albania

by Charlotte Ashton Albania

Thursday June 16th 2011, 7pm – 9pm; Hotel Rogner, Tirana

Brand new 5* residential and holiday resort, Lalzit Bay and Spa, situated on Albania’s stunning Adriatic coast would like to invite you to a fabulous launch party in Tirana on Thursday 16th June.

This launch party is ideal for potential buyers, journalists, marketing agents and existing investors.

You will be joining Lalzit Bay’s senior management team for a relaxed and enjoyable evening in the Hotel Rogner where you will be served complimentary drinks and canapés and given a short presentation on the resort.

Interest from overseas buyers has been particularly strong in recent months as the international press has highlighted Albania as one of Europe’s fastest growing tourist destinations, seeing healthy pre-sale reservations both locally and internationally.

Don’t miss out on this opportunity to learn more about this lucrative investment opportunity on Albanian’s stunning Adriatic coast. Spaces are limited so please RSVP to info@lalzitbay.com or telephone +355 (0) 44 303 930 to qualify for a free parking space and a 5% discount if you reserve a property on the night.

Kind Regards,

The team at Lalzit Bay Resort and Spa

Award-winning resort architects Woods Bagot design stunning new 5* Balkan Resort

by Charlotte Ashton Albania

 

Award-winning architects, Woods Bagot, have been working on the Master Plan for the Balkan’s latest 5* resort – Lalzit Bay Resort & Spa, located on the stunning Adriatic coast of Albania.
 
Woods Bagot, who have designed and developed urban and resort masterpieces throughout the world, are working closely with the team of UK based developers behind Lalzit Bay to develop the luxury residential resort complex which is due to deliver the first properties in late 2012. 
 
Lalzit Bay will more than lead the field of residential development in Albania, if not the Balkans, being on a par with other prestigious developments designed by Woods Bagot such as Minthis Hills in Cyprus, winner of the Best Golf Resort and Best Architecture (Multiple Use) CNBC Europe and Africa Property Awards. 
 
Woods Bagot was selected by the visionaries behind Lalzit Bay due to the shared core values each company holds, namely to deliver a functional and operational development that will support cultural needs and create solutions which will work for the developer, the builders and ultimately the owners.
 
With core values such as ‘we build trust and respect to achieve outstanding results’ and ‘we support and mentor to grow opportunities and realise full potential’ it is certainly a partnership that is forecast to yield excellent results.
 
The Project Architect, Chris Savva, from Woods Bagot gave his thoughts on the design of Lalzit Bay:
 
“The aim was to produce a masterplan and concept that provided a destination that fits comfortably within its natural environment. A suburban approach would not be appropriate to the beach location, so the typical planning pre-conceptions were replaced with a philosophy of creating a natural, beach resort.
 
“The site is deep so the challenge was to bring as much value into the site and balance the beach frontage between residences and the hotel. The project phasing was also considered so that the resort can grow over time with minimal disruption.”
 
Savva went on to explain the approach that Woods Bagot has taken towards the project:
 
“We have created a master-plan that gives beach frontage to the hotel and to the front line residences. We have arranged the site so that there is a dramatic entrance overlooking the central garden space. The garden space, with water features allows pedestrians to circulate free from traffic and gives all residences a garden view. Traffic is restricted to the perimeters, giving a clear separation. The front of the site houses the lower buildings so that the rear of the site retains stunning views.”
 
When asked about how Lalzit Bay will integrate with its premium location Savva commented:
 
 “The region features long sandy beaches with sand dunes and these lead back into the flat agricultural plains. We wanted to reflect the regional landscape so the character of the architecture is all about seaside living. The sand dune concept runs through with the use of timbers, stone and glass. Sand is encouraged to penetrate the site and the landscaping features boardwalks and plants typically found around the beach.
 
“The buildings have been positioned to provide views to the sea, the beach, and to private gardens. This sense of connection to the landscape is important for the owners to feel a sense of retreat.”
 
Ecological and sustainable development is important to both Lalzit Bay Resort & Spa and Woods Bagot. Savva describes his company views:
 
“Timber is a natural and renewable material and with the use of stone most of the building materials will be locally sourced. The landscaping will be of local native variety which will help in water conservation. Systems may include harvested water irrigation, solar thermal heating and passive methods such as timber window shuttering.”
 
Ravin Maharajah, Sales Director from Lalzit Bay & Resort was keen to appoint a design architect who had some experience in this part of Europe and Woods Bagot was the perfect choice with previous projects in Turkey, Cyprus and Montenegro in recent years. Maharajah explains:
 
“The resort team at Woods Bagot provide bespoke designs suited to the particulars of each location, climate, culture and site landscaping. They have great experience in this sector and they understand the importance of both the whole ‘Guest Experience’ and the owner’s development plans. This was the perfect recipe for our vision of Lalzit Bay Resort and Spa.”
 
For more information on villas and apartments available from as little as €29,000 in Lalzit Bay Resort, Albania, you can call us on +44 (0)845 125 8600 or visit www.lalzitbay.com. 
 

Tourist numbers expected to rise as visitors flock to explore the magic of Albania

by Charlotte Ashton Albania

Once perceived only as a place that the daring and brave would visit, Albania is now coming into her own, exposing all her geographical wonders and historical wounds to the intrigued masses in search of something rare and unspoiled. It’s no wonder then that Albania’s tourist guide has been falling off the shelves when the country was declared the number 1 in the Lonely Planet’s Top 10 destinations for 2011.

Ravin Maharajah, Partner of the 5* Lalzit Bay Resort & Spa in Albania comments:

 
“Tourism in Albania is at such an exciting stage in its life cycle. It’s a very exciting time to be involved in the country. We are seeing rapid growth in tourism along Albania’s coastline – and expect it to go from strength to strength as this little known slice of the Mediterranean increases in popularity.

“Indeed, major UK tour companies like Saga are now bringing in British holiday-makers keen on seeing the delights that Albania can offer.”

Durres, one of the most popular destinations in Albania is the second largest city as well as one of the oldest and most financially important ports in the country. An estimated 600,000 international tourists every year are drawn to Durres by the warm sea waters, sandy beaches and wondrous abundance of historical must-sees such as the Byzantine Forum, Roman Thermal Baths and City Walls.

The Adriatic is a very popular yachting destination and The Mediterranean Boat Show will be taking place in Durres on the 11th and 12th June and will serve all countries bordering on the Adriatic and Ionian coasts as well those located around the Mediterranean Sea. This event will certainly bring a great number of boating enthusiasts to Durres helping further to build Albania’s tourism market and indeed its economy.

In addition, Durres is now more easily accessible with a new duel 4 lane motorway connecting the second city to the capital Tirana and on to the Kosovan border, further boosting tourism. And it is such growth that is spelling positive news for Albania´s property market with evidence of more and more potential property investors being attracted to the emerging market eager to reap large rewards.

The Albanian government too is actively encouraging property and hotel development in primary locations along the coast to accommodate the increased arrival of visitors. Lalzit Bay, just north of Durres, is one area that is certainly feeling the benefits of increased visitor numbers and direct foreign investment.

Partner of Lalzit Bay Resort and Spa, the luxury beachfront resort development in the heart of the bay, Ravin Maharajah further adds,

“At Lalzit Bay Resort and Spa we are offering savvy investors the opportunity to become a part of this growth economy. Investors can purchase studios, one or two bedroom apartments or villas in a divine Mediterranean location from as little as €29,000, a fraction of the cost of buying a home in one of the more established European resorts. Owners also have the benefit of a fabulous beachfront holiday resort to enjoy with family and friends or to rent out to holiday makers.”

Lalzit Bay Resort and Spa will provide 5 star amenities, service and first rate luxury, making it one of the most desirable resort destinations in the Eastern Mediterranean as well as an attractive investment choice with strong rental opportunities.

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

Lalzit Bay targets Swiss buyers

by Charlotte Ashton Albania

Following the success of the recent launch parties in Kosovo, Macedonia and London, Lalzit Bay Resort & Spa are delighted to announce another round of parties for prospective purchasers and investors in this new luxury Resort on Albania’s Adriatic coast.

The first party will be held in Switzerland on May 27th 2011 where the sales and marketing team will be entertaining 100-150 expatriate Albanian buyers living and working in and around Zurich, Switzerland.

Ravin Maharajah, Partner in Lalzit Bay Resort & Spa comments:

“Launch parties and presentations to the Albanian Diaspora are a great way for us to meet a wide range of buyers and discuss their specific requirements. “

“As Lalzit Bay Resort is for both the local and international market, we need to be on the road meeting with expat Albanian communities across Europe. We’ve found these parties a great way to engage with our customer base.”

“Switzerland has already brought us several buyers so we look forward to another successful evening with our hosts.”

Specific dates and locations for the other forthcoming launch parties in Tirana, London and New York will be announced in the coming weeks.

For more information please contact Peter Walshe on +44 (0)7944 737 195 or info@lalzitbay.com or follow us on www.facebook.com/lalzitbay or www.twitter.com/lalzitbayresort
 

Property prices in Albania rise by 1.5% according to latest official data

by Charlotte Ashton Albania

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

Best Buys – Apartments on the Adriatic from just €29,000

by Charlotte Ashton Albania

One may wonder how it is possible to buy a luxury apartment anywhere in the world at this price let alone one just metres from golden sandy beaches and the warm waters of the Adriatic sea. This stunning coastline has long been sought after by property buyers who have focused their attentions traditionally on the eastern Italian coast, Croatia and Montenegro where property prices have skyrocketed in recent years.

Things are changing however as Montenegro’s neighbour and fellow Adriatic coastal nation, Albania, establishes its own attractive property market. Just 45 miles across the Strait of Otranto from Italy lies Durres, the highly popular tourist destination and home to Lalzit Bay Resort & Spa, Albania’s new 5* residential development. 
The resort’s superior frontline location coupled with the low entry price of just €29,000 for a luxury studio apartment makes Lalzit Bay Resort & Spa a best buy in 2011. Nearly half the studio, one and two bedroom apartments available in phase 1 have already been sold merely weeks after their release with demand for the three and four bedroom villas equally high.
Ravin Maharajah, Sales Director of Lalzit Bay & Spa Resort comments:
“We were very conscious that we needed to price the properties at a competitive level for the Adriatic coastal market. With similar studio apartments in Croatia priced at €70,000* we are confident that our pricing structure is highly attractive and makes owning a home on the Adriatic affordable for all.
“Many of our early stage purchasers are Albanians who live abroad and are thrilled to be able to buy a property for use when they return home as well as enjoy reliable rental income when they are not using it. We have also seen a flurry of investors from Scandinavia; known for being intrepid travellers and often the first into new markets, we are not at all surprised that they are excited by this fresh opportunity.”
Lalzit Bay Spa Resort is without a doubt one of the finest and most innovative developments underway in Albania.  Fully managed by an internationally renowned resort operator, Lalzit Bay Resort and Spa will provide 5 star amenities, service and unqualified luxury, making it one of the most desirable resort destinations in the Eastern Mediterranean in 2011.
For more information about purchasing in Albania and indeed apartments from €29,000 contact Lalzit Bay on 0845 125 8600 or visit www.lalzitbay.com.
* Price from Rightmove Overseas

Albania leads the Western Balkans towards economic recovery

by Charlotte Ashton Albania

 

The Western Balkan nation of Albania is leading the way in the region’s economic recovery according to the latest figures from the EC Economic and Financial Affairs Department’s ‘Candidate and Pre-Accession Countries’ Economic Quarterly Report’ Q4 2010.
Unlike many of its regional neighbours Albania weathered the economic crisis and avoided recession with 5.7% GDP growth recorded in Q4 2010 giving an average of 4.1% for the year. In contrast Croatia’s GDP fell by 0.6% in Q4 2010 compared to the same period in 2009 and the EU hopeful Republic of Macedonia saw only 2.3% growth. 
Ravin Maharajah, Partner of Lalzit Bay Resort & Spa, the 5* luxury resort located on Albania’s Adriatic coastline, comments,
“The outlook for Albania is most certainly positive for 2011. It has remained at the forefront of the Western Balkan nations during and post the crisis with economic growth driven by an increase in net exports as well as improvement in performance of the trade, hotel and restaurant sector.”
Albania has worked hard to reduce its public deficit by an impressive 58% in 2010 from 2009 levels in contrast to other Western Balkan nations including Croatia, Serbia and Kosovo which saw a continued deterioration of public finances last year.
In line with improved economic performance, unemployment levels are also down compared to the first half of 2011 with 2% year-on-year growth recorded for Q4 2010. Furthermore levels of FDI rose significantly by 17% last year which combined with Albania’s strong growth potential and movement towards EU accession enabled credit ratings agency, Standard and Poor’s, to maintain the nation’s credit rating at B+B last month.
Maharajah continues,
“Albania has the key fundamentals in place for a prosperous economy moving forwards with the government forecasting GDP growth to hover around 6% for 2012-1014 this will no doubt accelerate Albania’s accession to the EU.”
And it is this bright future that is attracting savvy investors from not only the UK but Scandinavia, Italy and the Balkans to invest in Albania. Lalzit Bay Resort & Spa has sold over half of its first allocation of 5* apartments with a healthy interest in the 3 and 4 bedroom villas.
Studio apartments designed by the internationally acclaimed architects Woods Bagot start from as little as €29,000 so to reserve yours today call +44 (0) 845 125 8600 or visit www.lalzitbay.com.

Lalzit Bay Resort & Spa awarded first building permits

by Charlotte Ashton Albania

In what is considered a major step forward for Albania’s growing tourism industry, Lalzit Bay Resort & Spa, the first major luxury resort project to be launched in Albania has been awarded its first building and site construction permits.

Ravin Maharajah, partner in Lalzit Bay Resort & Spa said:
“We are very pleased to be taking the next important step in the construction of this new resort. We’ve been working hard to get the architectural plans spot-on for phase 1 and we are absolutely delighted at the progress being made.
 “We are now looking forward to finalising many of the details regarding the site’s infrastructure and starting construction in the coming months.”
Mr Maharajah continues:
“The support from the local Mayor’s office in Sukth has been extremely encouraging and the speed at which this application has been processed goes to show how beneficial this resort will be to the local area.”
Lalzit Bay Resort and Spa has been working in conjunction with construction partner Trema Engineering. Trema are 51% owned by Austrian construction giant Strabag and have extensive experience in major construction projects. They have a strong track record in delivering projects on-time and on-budget, Tirana’s new airport being one of their previous projects.
For more information on villas and apartments in Lalzit Bay Resort & Spa available from €29,000, call today on +44 (0)845 125 8600 UK or +355 44 303 93 Albania or visit www.lalzitbay.com.