Albanian infrastructure improvements mark the road to increased tourism and trade

by Charlotte Ashton Albania

 

Albania’s mountainous topography is an important factor in drawing visitors to this diverse and striking country. However, with the stunning scenery come problems for getting around.
 
At least this was the case however until the new Albanian motorway was completed at the end of 2010; a 37-mile stretch of high spec four-lane highway connecting central Albania to the Kosovan border to the north.
 
The motorway, one of the largest infrastructure projects ever undertaken in Albania, forms the central segment of a 106 mile highway traversing the country from the beautiful Adriatic coastline up to the northeastern village of Kalimash near the Kosovan border. It includes a 3.4 mile twin bore tunnel and 29 bridges built into the rocky cliff faces.
 
Now in 2011, the motorway is fully up-and-running and facilitating increased volumes in travel and trade in the north of Albania. It has also significantly reduced the time to drive from Kosovo to the Albanian capital Tirana and the road links key markets to the Adriatic port of Durres boosting economic growth in time for EU accession and generating further tourism to the region. Generally travel time along the route has been cut by a staggering two-thirds.
 
Just north of the coastal town of Durres lies Gjiri i Lalzit. This is another area which will soon benefit from infrastructure improvements in this rapidly developing country. Plans have been drawn up for a new road directly into a major international resort currently being built. The completed road leading directly from Tirana and the airport into this un-spoilt Adriatic bay will be completed by 2012.
 
Gjiri I Lalzit, or Lalzit Bay as it is also known, has been selected for this long-awaited infrastructural upgrade due to its potential for coastal tourism which will further drive the economy in years to come. Major resorts such as Lalzit Bay Resort & Spa are leading the way in the sustainable transformation of the coastal area to accommodate the growing numbers of visitors from across the region, especially Kosovo.
 
Kosovo provides a large pool of tourists for Albania due to its high population of ethnic Albanians (around 90% of the population).
 
The Government is taking significant positive steps to enhance its holiday destination image for overseas visitors, something which the airlines are acting on by providing increased flights from London across the summer months. Resorts such as Lalzit Bay Resort & Spa are proving to hold international appeal with 25 units sold since its formal launch in March 2011.
 
Investors in the Resort can purchase studios, one or two bedroom apartments or a range of villas from €29,000 each with sea views. Buyers can use their property themselves or rent out to earn healthy revenues from the increasing numbers of tourists that visit the region each year.
 
For more information contact Lalzit Bay Resort & Spa on +44 (0)845 125 8600 or visit www.lalzitbay.com.
 

In case you haven’t already seen… Lalzit Bay Resort and Spa has gone social!

by Charlotte Ashton Albania

 

For all our latest Albanian property news, country information, local what’s on updates and company facts then join the Lalzit Bay Resort & Spa community on our Blog and Facebook. For snippets and sound bites of news – why not follow us on Twitter .
Lalzit Bay Resort and Spa is set to provide the first 5 star international holiday and home experience available in Albania. This resort will lead the field in the Balkans and is a fabulously exciting project offering villas and apartments for sale on the stunning Adriatic Sea coast. The services, amenities and uncompromising luxury that are planned for Lalzit Bay will make it one of the most desirable resort destinations in the Eastern Mediterranean.
We’ll look forward to connecting with you soon!
Lalzit Bay Resort & Spa

Albania receives further accolades from around the world

by Charlotte Ashton Albania

 

Already this year Albania has scooped the No1 position as the top European destination for 2011 by the reputable Lonely Planet Guides. It was then tipped as “one of this year’s most intriguing prospects – partly for its quiet, affordable Mediterranean beaches, partly for its rugged landscape” by the FT and Wanderlust and NOW this hot destination has been selected by America’s CNN as one of their Top 9 Destinations to Travel To in 2011.
 
CNN’s hotlist has been created by the expert recommendations of Robert Reid – little known in the UK but in the US he is dubbed as ‘one of the most celebrated travel writers of our time’, Pauline Frommers of Frommer’s guidebook fame and Martin Rapp – a big wig in the US travel industry. 
 
Only two Eastern European countries made it into the CNN list – Albania ranking 5 and Bulgaria scraping in at number 9. CNN writes: “Albania gives travellers a taste of the Mediterranean without the crowds and the prices.”
 
As Ravin Maharajah, property developer of Lalzit Bay Resort & Spa in Albania comments: “Albania is undoubtedly in its infancy for tourism and this is just such an exciting time to be involved in the country.”
 
Maharajah goes on to say: “We are anticipating seeing a steady increase in tourism to Albania over the next couple of years which will go from strength to strength as this little known slice of the Med increases in popularity. According to the most recently published figures from Albania Tourism, the first three quarters of 2009 saw visitor numbers rise by 42.5% and tourism figures are estimated at circa 3 million in 2010. The World Travel and Tourism Council are predicting strong and sustained growth in this sector.
 
“We are confident that by the time our resort is built and fully functioning that Albania will be well and truly on the tourist map and this will be tremendous news for early investors. Early investment in this budding country is most definitely the best option as indicators show that the prices will rise on the development long before completion.”
 
For more information on Lalzit Bay Resort & Spa contact Lalzit Bay on 0845 125 8600 or visit www.lalzitbay.com.

Buyers Guide to Albania – 10 easy steps

by Charlotte Ashton Albania

 Albania – a new destination in Europe that is quietly making an emergence

 

Since the end of the Balkan war and independence in the early 90’s the Balkans have started to open up to tourism.  Thus far, it has mostly been back packers and intrepid travellers who have made their way through this fabulous country. 

 

Albania has had a bad reputation internationally and has been plagued by social and political problems.  Currently the country is undergoing a massive internal change, huge amounts of investment have been poured into the infrastructure, the government is working with overseas advisors to implement change and there is a definite desire to be on a par with their neighbours such as Greece, Croatia and Italy.

 

The FT and The Lonely Planet Guide have listed this country as the top European destination for 2011 and there are many reasons why they are spot on in their estimations.  Greece and Italy have been loved by tourists for decades and there is every chance that Albania will achieve the same accolades once it has had a chance to shine and show the rest of the world what a fabulous destination it is. 

 

So what is it about Albania that has made Lonely Planet put this nation at the top of the list?  Could it be the enormous potential for tourism that is about to erupt?  This nation encapsulates an ancient history, beautiful landscape, a rich anthropology, traditions and culture.  The Albanians are famous for their warmth and hospitality and the country has a vibrant, young society which should be a recipe for success.

 

Top ten considerations to buying overseas property and why Albania is the property hotspot for 2011:

 

1.             Accessibility – can you get to your new property without it costing you a fortune or taking you days?  If you can’t than neither can your potential clients who might want to rent it… Albania has affordable low cost airlines flying from London airports weekly including the popular Belle Air.  During the summer months when you are more likely to want to travel then the options for getting there increase. Plus two new airports are planned to open in Kukes and Saranda.

2.             Location – Once you have landed it is important that the transfer to your new holiday home is simple and hassle free.  Not all of Albania is easy to travel around although there is a great deal of investment being poured into infrastructure currently.  Lalzit Bay Spa and Resort is just a 30 minute drive from Tirana International Airport making it a terrific choice. Albania as a whole is also fabulously located in Europe to be a stepping stone to other European and Baltic countries to continue your exploration!

3.             Affordability – non Euro is still a great bet.  Obviously you will have set yourself a budget for this purchase but everyone likes to make a profit and buying in a non-euro zone does increase the opportunity for profiting greatly. Albania has some of the lowest property prices in Europe, even in the capital Tirana city “cheaper” apartments can be bought for €500 to €800 per square metre according to the Global Property Guide.

4.                   Country infrastructure – buying a property in the depths of nowhere might seem a great idea for a holiday escape but if you are hoping to let the property out then will others feel the same way?  It makes sense to ensure your investment is in an area where there is a good road and rail network to open up the availability to as many people as possible to rent your property.  Albania has had massive overseas investment which has resulted in 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

5.             Environment – having an overseas property near a beach is wonderful but that is not the be all and end all.  By the time you have visited your property a few times you will want to explore further afield.  Albania currently has two UNESCO World Heritage sites and there are a further three on the list waiting for approval.  Albania is blessed with some of the most beautiful countryside and mountains in Europe and it would take a person a lifetime to explore all that it has to offer.  How exciting to know that every time you visit your holiday home you can conquer climbing another mountain; go white water rafting, horse back riding or visiting a cultural site.

6.             Reputable Sales Agent – quite possibly the most terrifying bit of the entire procedure is getting this bit right.  Here are some do’s and don’ts to help you

·         Do thoroughly check all the project details

·         Do compare closely with other projects

·         Do have the contract checked by a solicitor

·         Don’t pay anything until a contract is in place

·         Do visit the site for a look around

·         Do insist on building progress updates regularly

·         Do inspect the property for snags before making final payment

7.             On-going property costs – a consideration that is often neglected on purchasing a property.  It is no fun buying an affordable property and then discovering afterwards you cannot really afford the water or electricity.  Labour costs in Albania are currently one of the lowest in Europe which is a great benefit when having work done.  Albania has significant renewable energy resource potential from hydro, wind and solar energy.

8.             What else is there to do – Often people buy properties and within a few years they have grown bored of the same view and beach.  It is a good idea to chose somewhere with diversity. Albania offers 362km of mainly untouched coastline on the Ionian and Adriatic Seas.  But is also offers skiing, trekking, caving, horse riding and much, much more.  Tourism in Albania is still in its infancy but there is a great deal of almost untouched cultural sites which will develop as tourism develops within the country.

9.             Economy and Tourism – Albania is well on the way to EU accession and has a target accession date of 2014, this will have a tremendous positive effect on property prices. The government is also pouring a lot of investment into the tourism sector which will further boost the economy in years to come. Government figures have estimated that the country will have received 3 million visitors in 2010 and The World Travel and Tourism Council expects this to grow by 5% every year until 2019.

10.          Rental Opportunity – There are many countries in Europe that are currently flooded by oversupply of rental property – making it almost impossible to earn any rental income from an overseas investment.  Emerging markets like the Central Baltic’s have the reverse and in fact suffer from a lack of accommodation that can offer luxury.  Lalzit Bay Spa and Resort offers a completely unique opportunity that cannot currently be found anywhere in the emerging Baltic states.

 

Without a doubt one of the most exciting innovative developments underway in Albania is Lalzit Bay Spa Resort.  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.

 

According to Ravin Maharajah, Sales Director of Lalzit Bay & Spa Resort: “It is incredibly important to Albania that new developments being offered to foreign investors have the right international feel.  It would be very easy to build mediocre developments but this is not going to attract long term investors and at Lalzit Bay Resort we feel that would be a very short term gain for the country” he goes onto say: “We are very proud of the development of Albania thus far and we are working very hard with tourism agencies to keep the positive momentum going.”

 

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

Albania opening new flights to London Stansted

by Charlotte Ashton Albania

 

New flights to commence from Albania to Stansted with Albania’s own Belle Air
Belle Air is a privately owned low cost airline which operates out of Albania. The company was founded in 2005 and is based in Tirana – Albania’s beautiful capital city.
The inaugural flight will take place today – December 16th and two flights a week will operate on the winter timetable up until March 2011.
Belle Air currently runs services to Germany, Switzerland and Italy. Ravin Maharajah, Sales Director of Lalzit Bay & Spa Resort said: “These flights reinforce Albania’s growing position with the UK market in terms of both tourism and property purchasing. Albania is also celebrating this week as it has officially joined the Schengen Area Agreement allowing visa-free travel for residents throughout the 25 member states.”
 
As reported by Associated Press Albanian Prime Minister, Sali Berisha commented on the visa-free regime saying it was the ‘country´s second major achievement after the fall of communism’.
 
Albania is at a turning point and overseas investors are watching closely to see how this country develops. Savvy investors are already cashing in on this growth market with property developments such as Lalzit Bay Resort & Spa, a coastal holiday resort to rival that of more established Mediterranean destinations. Maharajah goes onto say: “Access to Albania has been easily available via British Airways from London Gatwick and Austria, Lufthansa and Ailtalia from London Heathrow, but new flights opening from Stansted will allow more visitors to travel to our hidden gem in Europe.
 
“Many people have no idea of the wonderful beaches and scenery in Albania and our resort in Lalzit Bay, just 30 minutes from the capital Tirana, is set to be one of the most luxurious destinations in the Eastern Mediterranean. With apartments available from just €50,400 this is such good value and they are selling quickly.” 
 
For more information contact Lalzit Bay on 0845 125 8600 or visit www.lalzitbay.com.
 
Editors Note
A luxurious 5 star village in what will become the most exclusive beach community in Albania.
The resort will benefit from a beach club, sports and tennis club. A spa and wellness centre will include numerous steam rooms and full range of thermal treatment room.   An indoor hydrotherapy pool as well as more traditional indoor and outdoor infinity pools situated around the resort. Shops and boutiques catering for all tastes and an excellent selection of restaurants offering a range of different cuisines.
Apartments available – 1 or 2 bedrooms – start from just €50,400. Villas available – 3 or 4 beds – from €234,000. For more information contact Lalzit Bay on 0845 125 8600 or visit www.lalzitbay.com.

EU Accession – Effect on Albania’s property market

by Charlotte Ashton Albania

 

Joining the EU over the past decade has led to staggering effects on a country’s property prices. For instance property prices in Estonia trebled on entering the EU, the Slovak Republic and Slovenia saw property prices double and Cyprus saw a 40% increase.
So how might Albania’s property market react in 2014 when it joins the EU?
Since 2008 the economic crisis hit almost every country in the world with force. However several economies have already started to recover and the news is looking good for the Balkan states.
Forecasts by experts say that the Balkan Penninsular will start their recovery in 2011 and they are confident that it is time to invest. Activity in the private sector has recently showed an increase in merger and acquisition transactions as well as restarting property developments which had been purchased before the crisis. Experts believe that real estate will be the first sector to benefit from this recovery.
In a recent poll conducted by Arrowtrak of businesses in the region, it stated that: “37% are considering expanding into the Balkans, investing or creating a joint venture within the next year.” This potential surge of investment will have the effect of increasing wealth in the relevant countries. With more overseas investment Albania will see an increase in expats moving to the area. This will benefit property prices, particularly focusing on areas where they will live and weekend away.
One such development is Lalzit Bay Resort and Spa. This development is being fully managed by a resort operator and will provide 5 star amentities to its guests. Ravin Maharajah, Sales Director, says: “Lalzit Bay will be one of the most desirable resort destinations in the Eastern Mediterranean. Its first class accommodation and leisure facilities will come with cutting edge design, exceptional quality and an attention to detail not normally seen in Albania.”
Albania is working very hard to change it’s image and is confident that by 2014, as it enters the EU that it will be considered a “new-era” destination hot spot, that will appeal to far more than just the intrepid traveler..
Albania’s Prime Minister, Sali Berisha, has pledged “to attract greater foreign investment and development”. He is welcoming expansion programmes such as Lalzit Bay, bringing with it jobs for local people, foreign wealth and a touch of class and sophistication that has not been seen in this country before. With a strong leader such as Berisha, it is not surprising that Albania can claim to have doubled the national income over the last five years.
More good news for the Balkan States is that the European Union Ministers have said visa requirements for Albanians and Bosnians will be lifted starting in December 2010 as the two states work towards EU membership. This signals very positive messages to these two countries that are working so hard towards their EU accession.
The air of optimism is blowing in the Balkans, and the smart money is alreadytaking advantage of this unique situation before the window of opportunity narrows.
Apartments in Lalzit Bay Resort & Spa are available from just €50,400. Villas are priced from €234,000. For more information contact Lalzit Bay on 0845 125 8600 or visit www.lalzitbay.com.

Albania launching Quality Rating for Tourism

by Charlotte Ashton Albania

 

Albania’s tourism is a major factor in helping to turn the country into a modern European country. A recent meeting, which included business heads for Albania and experts from overseas, has set into motion a plan to increase the country’s profile.
 
Captains of the tourist industry in Albania have created criteria for all business within this industry to work towards. These criteria are to be known as The Global Sustainable Tourism Criteria (GSTC) and are a set of 37 voluntary standards which should help local businesses increase their revenue and success. 

Albania needs to work at protecting and sustaining the world’s natural and cultural resources; of which it is bestowed with many. It is very important that, as their tourist industry starts to build, a strategy is put into place so that tourist income coming into the country is channeled into poverty alleviation and protecting what will undoubtedly become a country known for its natural beauty, stunning beaches and hospitality.

 
Ravin Maharajah, Albanian resort developer, is thrilled with the news. “Albania’s tourist industry is crying out for some direction. For many Albanian’s who may not have been outside the country and will not have had the benefit of seeing how other tourist areas operate, these northern European influences are sure to be extremely beneficial. This set of criteria offers simple and useful advice to small businesses to help them up their game plan.”
 
Maharajah goes on to say: “At Lalzit Bay Resort & Spa we are very keen for all companies within the tourism and related sectors to make a success of their businesses. The better they are – the better we all look. We are keen for the whole country to work together in making Albania one of the must-visit  places to visit in Europe.”
 
Albania’s tourism has grown significantly over the past year and expectations for 2011 are extremely high. Over 200,000 Albanians are currently involved in the industry and this figure will see a natural rise as the country becomes more popular.
 
Mirroring the thoughts of Ravin Maharajah is the Mission Director of USAID who remarked: “Tourism in Albania is at a critical juncture and choices being made today are important.” He went on to say “The Global Sustainable Tourism Criteria and Authentic Albania Quality Mark program are good ways to ensure that tourism in Albania is sustainable and based on international trends and best practices.”
 
These ratings will be launched in the next few months and will initially target accommodation businesses.  Hotels and accommodation will be evaluated based on the Global Sustainable Tourism Criteria and then be awarded a gold, silver, or bronze classification that will be published on travel sites and in brochures and publications for foreign tourists. 
 
The Authentic Albania Quality Mark will become an important marketing tool for new and expanding businesses in the tourism sector as a mark of quality and customer service. It should serve as a guide for visitors to ensure they can maximise their visit.
 
The Prime Minister of Albania, Sali Berisha, recently met with the Secretary-General of the World Tourism Organisation and in a press conference the PM spoke of his hope that Albania would be able to set an inspiring model to other European countries.   He said “We discussed at length about the extraordinary tourism potential of this country, the main directives of the government of Albania for development of this potential, the determination of this government to cooperate closely with the World Tourism Organization. A few years ago this country was not at all on the world map of tourism, but has managed to develop sustainable tourism with the green philosophy, to develop tourism of this century.”
 
Currently Albania has three world heritage sites listed but this is a drop in the ocean for the number of potential sites here. The country has a hugely diverse terrain, from beautiful beaches, to deep gorges and ravines, stunning mountain ranges and lush meadows. This county will become a play ground for adventurers and a haven for those looking for some R&R on a beach. 
 
Maharajah spoke of his excitement for this up and coming Balkan country: “There is so much untapped potential in Albania and the opportunities are endless. I sincerely believe that the local and international communities will make the very best use of this and that we will build a place that tourists will want to visit for decades ahead. 
 
Speaking of his own efforts to sustainable tourism, Maharajah continues: “Our development is situated in 20 hectares of frontline land with 300 meters of private beach. We are only building on 25% of the land to maintain a feeling of luxurious non-crowded surroundings. Lalzit Bay itself is 10km in length, boasting golden sandy beaches and surrounded by distant mountains. The sea is shallow, calm and gently sloping ensuring perfect conditions for families. This is a place where people will feel very proud to own property.
 
“The resort will benefit from a beach club, sports and tennis club and a wellness centre with fabulous facilities. We are also building shops, boutiques and restaurants catering for all tastes with a variety of cuisines.”
 
Apartments in Lalzit Bay Resort & Spa are available from just €50,400. Villas are priced from €234,000. For more information contact Lalzit Bay on 0845 125 8600 or visit www.lalzitbay.com.
 

Albania is Lonely Planet’s Number One

by Charlotte Ashton Albania

 

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.