Albania provides excellent B2L opportunities say holiday lettings experts
Official data from the Bank of Albania has identified that tourism revenue for the Balkan nation increased by an impressive 17% reaching €1.3bn in 2011. While Albania offers unspoilt coastline and archaeological parks, property experts believe that the ‘value for money’ nation is also providing excellent opportunities for investors in the holiday lettings marketplace.
Kate Stinchcombe-Gillies, Head of Communications at Holidaylettings.co.uk, the busiest holiday home rental website in the UK commented on the potential of the emerging Balkan land, saying,
“Albania is a new territory in 2012 for the holiday lettings marketplace. The destinations showing promise are the seaside spots of Vlore and Durres. Vlore benefits from the combination of offering a city break holiday with stunning coastline – not dissimilar to a holiday experience offered by Barcelona. There are some beautiful beaches and great nightlife alongside UNESCO sites.
“Typical holiday apartment prices range from £285-£490 per week during peak season, which is fantastic value for money for travellers. BA’s commitment to the country with up to 5 flights a week into Tirana suggests this is a promising area for both savvy travellers and investors to explore something as yet untapped by the masses.”
Indeed, Albania offers some of the lowest prices and taxes across Europe and along with robust economic growth, offers plenty of opportunity for buy to let investors.
Ravin Maharajah, Partner of Lalzit Bay Resort & Spa, the 5* luxury residential development located on Albania’s hotly tipped Adriatic coastline comments,
“Rising tourism levels founded on new regional transport infrastructure (road and air) continue to increase the demand for accommodation. This is generating considerable potential for buy to let investors in Albania and with the nation receiving 4 million visitors last year there is huge potential to grab a slice of the action.
“Indeed, we expect that there will be strong rental demand in Lalzit Bay based on the exclusivity of the resort, the facilities on offer and the quality of the finished properties. We have estimated that a 2 bed apartment costing €70,000 will generate rents of €500 per week over the peak summer months at 75% occupancy giving an annual gross rental income of €6,000 – that’s an overall rental yield of 8.57%. Pretty good considering we know there’s a decent rental market for off-peak months too but we’ve been quite conservative here. ”
Lalzit Bay Resort and Spa offers a premium, exclusive product to investors who want the benefits of villa ownership including private gardens and terraces, exclusive services and more privacy as well as a range of facilities including private swimming pools, a BBQ area, tennis courts and superb restaurants for as little as €30,000.
For those thinking about investing in a rental property in one of the best performing growth markets in South Eastern Europe, look no further than the stunning apartments and villas at Lalzit Bay Resort.
For more information please contact Lalzit Bay on 0845 125 8600 or visit www.lalzitbay.com.