Booming Balkans: Savills report shows signs of improvement as Albanian villas register at one third of the price of Croatian equivalent
- The Balkans tipped to be a hot market for property investment in 2014 (Savills Prime Residential Retreats report)
- Typical 4 bedroom property in Croatia is €750,000 (Savills)
- Whilst 4 bedroom luxury Villa Sophia in neighbour Albania is available for third of the price, €232,600
In recent years the Balkans, an expansive region of South-eastern Europe, has become a firm favourite for those looking for a wise investment opportunity, with property affordable, climate favourable and scenery breathtakingly beautiful.
Yet it is no secret that the crisis in the Eurozone hit the Balkans hard, with Croatia one country affected by the decline of the Euro. However with the dawn of 2014, the market has begun to show important signs of improvement. The Prime Residential Retreats report by Savills has shown that property prices in the country have shown stability in the previous year, with a 1% rise in the value of coastal apartments being recorded in January 2014 when compared to figures of 2013.
This growth registers positive reverberations in the region’s property markets, marking signs that the Balkans will be hot news in 2014. This positive outlook does not only cover the ‘traditional’ investment options of Croatia and Montenegro, for example, interested eyes are now beginning to look towards Balkan neighbour Albania too and resorts such as Lalzit Bay Resort & Spa.
Albania is an alternative option for those looking to invest in the Balkans and capitalise not only on the ongoing up-turn in the property market in the region but also to take advantage of the untamed beauty and stunning scenery of the surroundings for themselves.
With all the benefits that other Balkan countries such as Croatia have become synonymous with – historic charm, excellent year-round climate, easy access via short, regular, direct flights, and a low cost of living – yet at a fraction of the price, taking a step across the Albanian border when looking for a property can pay real dividends.
With the Albanian Prime Minister, Edi Rama, recently expressing his optimism in the country’s economy following on from positive statistics from The Bank of Albania, saying “it lays the basis for real change we expect in the future”, prospects looks bright for Albania’s property market.
Peter Walshe, Marketing Director for Albania´s first high-end resort Lalzit Bay Resort & Spa explains more,
“Albania is a truly enchanting country with much to offer tourists and investors alike: deserted beaches and wild mountains, vibrant cities, over 200 days of sunshine a year, and a low cost of living just a few of the country’s attributes.
“Somewhat untapped currently, yet growing in popularity for those looking to make a savvy investment, Albania’s property industry is certainly on the up. And with this wealth of appealing features, combined with EU accession on the cards for 2015, it is no surprise that Albania is looking increasingly attractive to potential investors. In fact 25% of all buyers in Lalzit Bay Resort are from the UK compared to just 15% a year ago, proving that Albania is becoming more and more attractive to UK investors.”
With property notably more affordable than nearby Croatia, where a typical 4-bed property is €750,000 (according to Savills World Research), unearthing a property gem is easy in Albania.
The 4-bed, 2-bathroom Villa Sophia at Lalzit Bay Resort and Spa is priced at just €232,600 and offers spacious indoor and outdoor living, inspired by California’s elegant and modern beachfront houses. With a sea view, private garden and parking, as well as the option of a private swimming pool, this family villa has much to offer.
As part of the 5 star Lalzit Bay Resort and Spa, where properties are designed by award-winning architects, the resort boasts ranging grounds where properties are built at low density. There are also a wide array of facilities available such as a beach club, tennis courts, boutique shops and a range of carefully selected restaurants and bars.
For more information contact Lalzit Bay Resort & Spa on + 44 845 125 8600 or visit www.lalzitbay.com.