With a 1.6% increase in house prices and continued economic growth, Albania remains a top investment location for 2011

Albania

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
 

With over 57,000 visitors within 24 hours, tourists finally awaken to the magical charm of Albania

Albania

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
 

Tempted by Tirana? Albania’s capital sees 23% increase in passenger arrivals

Albania

 

Latest statistics released by Tirana International Airport (TIA), which serves the Albanian capital, reveal that in the first half of 2011 the number of passengers increased by an impressive 23%
According to TIA figures, the airport handled 793,984 passengers between January and June 2011 – a new record! Air traffic movements and cargo handling also increased, by 10.6% and 17.7% respectively compared to the same period last year.
Airport officials are confident that the high number of passengers is as a result of the visa liberalization process and with tourism figures up 8.5% year-on-year Albania is certainly enjoying a boost in popularity.
The airline carrying most passengers in and out of Albania is Italian owned Bellair with 46.2% of the traffic although this could be set to change with the news that British Airways is starting daily flights to Albania rather than their previous thrice weekly service.   
Ravin Maharajah, Partner of Lalzit Bay Resort & Spa, the 5* luxury residential development located on Albania’s Adriatic coastline just 45 minutes from Tirana, comments,
 
“The Lonely Planet Guide and the Financial Times did Albania a tremendous favour at the end of last year – both highlighting this little known Balkan country as a top tip for 2011. Lonely Planet placed Albania at the number one spot for places to visit in Europe and the FT said: “one of this year’s most intriguing prospects – partly for its quiet, affordable Mediterranean beaches, partly for its rugged landscape.
“We are so excited by the development of this country and feel very proud to be a part of its growth. Tourism is increasing steadily and in line with this the interest in Lalzit Bay Resort & Spa as we head ever closer to ground breaking on the site.”
The Prime Minister of Albania, Sali Berisha is behind much of this success, working hard with the Albanian nationals to ensure that their efforts are being put in the right direction and offering support where he can. 
He is committed to tourism, working with experts to create a dedicated database to streamline the industry and its operating processes. Lalzit Bay is an area which is going to be highly targeted by domestic and international tourists looking for second homes away from the city. 
 
Its warm sea waters, beautiful white sandy beaches and fabulous weather makes this area a very sensible choice for property investment. Lalzit Bay Resort & Spa is being marketed from as little as €29,000 for a studio apartment. The resort will provide holiday makers with 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 goes Global

Albania

 

Do you know where Albania is? The country just north of Greece, neighbouring Montenegro and a mere 45 miles from Italy across the stunning Adriatic Sea to the west.
 
Have you been to or considered visiting Greece, Italy or Montenegro? Most likely so.
Have you been to or considered Albania? Most likely not.
But why? Now is time to take Albania seriously as it spreads its wings in Europe and indeed the world.
 
Known to its people as Shqiperia, Albania covers 28,748 square kilometres, fitting into the UK almost 9 times, or put another way, a bit smaller than Scotland.
 
The population has undeniably been in decline in recent years due to economic pressures post communism. Figures show that in 2007 the population was sitting at about 3.5 million, in 2009 it dropped to 3.1 million and is currently estimated at just under 3 million. 
 
This decline, perhaps seen as negative by some, could spell good news for the Balkan nation as the Diasporas of Albania, spread far around the globe, are known for sending financial support back to their families and in turn assisting the ongoing growth of GDP.
 
And it is the strength of the Albanian Diasporas which reinforces its global outlook. Albania is extremely keen to welcome foreign travellers and indeed FDI to its shores allowing visa free travel for many nationalities. This year has already seen Albania give visa free visits to Azerbaijan, Ukraine, Armenia, Kazakhstan, Russian, China and most recently Taiwan.
 
In the same spirit the EU lifted visa requirements for Albanians travelling to the 27 members states for periods of up to 90 days last December, a positive step towards expected EU accession in 2014.
 
Ravin Maharajah, experienced property developer and partner of the 5* Lalzit Bay Resort & Spa in Albania, comments:
 
“Opening the borders between Albania and the world is very powerful statement to both the citizens of this Balkan land and its visitors. It also spells promising news for potential property investors as interest in Albanian real estate comes not only from the domestic market but also neighbouring Kosovo, Macedonia, Scandinavia, the UK and Middle East and having free and easy access to your second home is paramount.”
 
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.

Flying high: Albania’s tourism boosted once more as British Airways introduce daily flights to the capital, Tirana

Albania

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
 

Albanian Attraction: 1.2 million visit between January and June 2011 with revenue up 8.5%

Albania

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

 

From the Adriatic to the Aegean, Albania gets the SAGA seal of approval

Albania

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.

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

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!

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

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