• 500% increase in number of new building permits issued in Durrës in Q3 2014 (INSTAT Quarterly Statistical Bulletin)
• 265% increase in value of building permits issued in Albania in Q3 2014 (INSTAT Quarterly Statistical Bulletin)
• Almost 60% of investors looking to ‘risk’ markets when growing portfolio (Colliers International ‘Global Investor Sentiment Report 2015’)

Albania’s second largest city, home to the Balkan country’s main port and thriving commercial centre, and just 150km across the water from the Italian coast, is Durrës, a city that is currently undergoing a renaissance thanks in part to a financial boost from EU funds. With the government focussing wholeheartedly on cleaning up the city and surrounding areas through demolishing illegal developments, planting more trees and rejuvenating the coastline, the wide-ranging regeneration of Durrës is well and truly underway.

The figures speak for themselves. As of the tail end of last year, INUK was reporting the tearing down of 230 illegal buildings in the city, with the coastline being rejuvenated and redeveloped in a positive standout move by the Albanian authorities.

As part of this move, there has been a large increase in the number of new building permits granted in the Durrës prefecture, according to the Quarterly Statistical Bulletin of the Albanian National Statistics Office, , recording a massive 500% increase in figures in Q3 2014, compared to the previous quarter.

Peter Walshe, Marketing Director for Albania’s first high-end resort Lalzit Bay Resort and Spa, situated in the Durrës region, explains why this is an exciting time for the area,

“Durrës, and the surrounding areas which includes Lalzit Bay to the north, is a wonderful region of Albania. It’s fantastic to see that the government is giving it the dues it deserves by cleaning up not only its coastline but its public image in turn. You wouldn’t necessarily visit central Durrës for the beaches as there are stunning beaches and resorts to the north and south, but a greener Durrës will mean a more appealing location for those looking to holiday and buy property in the area. These positive figures coming out of the region are a testament to the hard work being done by the new government, as well as the potential for investors. This is a very positive development for investors in Albania.”

This spotlight on Albania’s second city is within the context of a positive period for the country as a whole, as it continues to move towards EU status. The latest INSTAT Quarterly Statistical Bulletin has also revealed a huge increase in the value of building permits issued in Albania as a whole, from 6,404,601 lekë in the second quarter of 2014 to 23,370,865 lekë in the third quarter, a massive 265% increase in just three months, whilst the size of permits granted for new buildings grew by 182% year on year, to 584.814 m² in Q3 2014.

This growth in the country’s construction industry comes at a time when visitor numbers are reaching new highs, ensuring the property and tourism increases are working hand-in-hand to result in an exciting period for Albania. The number of foreign citizens arriving on Albanian shores totalled 1,779,569 in Q3 2014, up 118% on the previous quarter’s figures of 815,196. Of these, some 1,617,264 were of European descent, with this faction growing by an outstanding 109% within a three month period.

Yet it is not just these impressive statistics that are ensuring that Albanian shores are appearing increasingly attractive to those looking to buy property outside of their own country. The Colliers International ‘Global Investor Sentiment Report 2015’ has revealed that EMEA (Europe, Middle East and Africa) investors are more and more looking to ‘risk’, or emerging, markets such as Albania when growing their portfolios, with almost 60% stating that this is now the focus for their capital.

And with Durrës such a hotbed for growth, this is one area which they are sure to focus upon. An example of the ideal investment opportunity in this region is Lalzit Bay Resort & Spa, a five-star, beachfront resort boasting luxurious facilities and standout views of the beautiful sandy beaches and Dajti mountain range. Just 30 minutes from Durrës and boasting a beach club, range of top restaurants and bars, tennis courts and boutique shops, Lalzit Bay Resort offers a range of properties built at low density and to the highest of standards.

1 or 2 bedroom apartments and 3 or 4 bedroom villas with private pools are inspired by California’s elegant and modern beachfront properties and are priced from €35,000 to €360,000.

For more information contact Lalzit Bay Resort and Spa on +44 845 125 8600 or visit www.lalzitbay.com 

• Cycling tourists spend on average £25 a day within the local economy, compared to a car visitor’s spend of just £7.30 (CTC’s ‘New Vision for Cycling’)
• The newly proposed EuroVelo 8 cycling route, to be known as ‘The Mediterranean Route’, will encompass 11 countries, including Albania
• Lalzit Bay Resort and Spa, 30 minutes from Tirana through which new route will pass, offering chance to invest in growing market

Cycling tourism is big business. Providing the freedom that many seek in a holiday, an escape from the rat-race, a back-to-basics way to see new landscapes, a feeling of being at one with nature, a healthy break, not to mention an eco-friendly way to travel, exploring on two wheels is becoming THE way to holiday.

And the economic effects are obvious. The European Cyclists’ Federation (ECF) has shown that some 655,000 people are today employed as part of the continent’s cycling industry, with CTC’s ‘New Vision for Cycling’ revealing that a two-wheeled tourist spends, on average, £25 a day within the local economy, comparing extremely favourably with a car visitor’s spend of just £7.30.

And cycling tourism is becoming more and more popular. Macs Adventure, a cycling and walking tour operator, specialising in tailor-made adventures in the UK, Europe and around the world, has recently revealed a 124% increase in cycling tour bookings for 2014 year-on-year, cementing the notion that increasing numbers of tourists are hopping on their bikes and exploring as part of their holiday plans.

The impact of more televised cycling events such as the ever-popular Le Tour de France in Yorkshire this summer, with Leeds staging the iconic Le Grand Départ, is clear to see. Not only did the Premier Inn hotel chain witness a 67% growth in bookings of people bringing a bicycle, reports have also claimed that Le Tour had a £150 million positive impact on Yorkshire’s economy.

Le Tour provided the inspiration many needed to get on their bikes and not only are more people now cycling within the UK, many are now also taking their bicycles on an exploration of more far-flung territories.

Responding to the undeniable growth in the industry, EuroVelo, a network of long-distance bicycle routes throughout Europe, has announced the development of a new, much-anticipated route from Spanish Cadiz to Cypriot shores. The EuroVelo 8, which will be known as ‘The Mediterranean Route’, will encompass 11 countries (Spain, France, Monaco, Italy, Slovenia, Croatia, Bosnia-Herzegovina, Montenegro, Albania, Greece and Cyprus) and span some 5,900 km.

Forming an important and popular part of EuroVelo’s proposed 70,000 km network, the route’s planned navigation of Albania’s Shkodra, Tirana and Durres cities is an exciting addition, as Peter Walshe, Marketing Director for Albania’s first high-end resort Lalzit Bay Resort and Spa explains,

“The newly proposed ‘Mediterranean Route’ will offer much to the experienced and novice cyclist alike and, once reaching Albanian trails, is sure to open visitors’ eyes to the countless natural wonders of this European gem.

“Sweeping, beautiful landscapes and climbs of extensive, breathtaking mountain ranges provide the chance to discover the true Albania: a stunning, untouched land of authentic and undiscovered culture, extremely affordable prices and friendly, welcoming locals. Sure to put beautiful Albania on the map, and contribute to the country’s growing tourist numbers.”

Not only is the new EuroVelo 8 route through the ‘Land of the Eagles’ sure to encourage a further tourism boost as Walshe anticipates, the new literal connection to its European neighbours also marks an important association for the Balkan nation with the rest of Europe. This has been further cemented by the recent announcement that Albania has been granted EU Accession status, as the country edges closer to its goal of becoming an official EU nation.

With an untouched, diverse landscape, newly emerging European links, booming tourist market and now the proposed network making the country a major part of Europe’s eco and cycling tourism market, now is the time to consider a strategic investment in Albania.

Lalzit Bay Resort and Spa, just 30 minutes from Tirana through which the new ‘Mediterranean Route’ passes, is the ideal investment option for those looking to capitalise on the growing Albanian market, as well as those looking to visit the beautiful country themselves, on two wheels or otherwise.

The five-star beachfront resort provides luxurious facilities, including a beach club and tennis courts, boutique shops, top restaurants and bars. Properties range from 1 or 2 bedroom apartments to 3 or 4 bedroom villas, boasting spacious indoor and outdoor space, optional private swimming pools and the very best fixtures and fittings, all inspired by California’s elegant and modern beachfront houses. Prices range from €35,000 to €360,000.

For more information about Lalzit Bay Resort and Spa call +44 845 125 8600 or visit www.lalzitbay.com

• Number of foreign visitors to Albania increases 24.9% from Q2 2013 to Q2 2014 (INSTAT)
• The country rises 40 places in The World Bank’s ‘Ease of Doing Business Ranking 2015’
• Albanian GDP predicted to rise by 2.9% in 2015 and 3.5% in 2016 (European Commission’s ‘European Economic Forecast Autumn 2014’)

The hidden jewel in Europe’s crown, the Balkan country of Albania, witnessed an increase in foreign visitor numbers of 24.9% from the second quarter of 2013 to the second quarter of 2014, the country’s national statistics office, INSTAT, has revealed.

Their ‘Quarterly Statistical Bulletin’ also demonstrated in more detail how these visitors were reaching Albania, showing that 703,980 of the 815,196 foreign tourists visiting in Q2 2014 arrived by land, an increase of some 32.9% on the same period the previous year. Visitors arriving by air numbered 86,929, an additional 11% on the year before.

This outstanding growth, within the space of just one year, heralds an exciting time for the country, proving that it has much to offer all kinds of visitors, as Peter Walshe, Marketing Director for Albania’s first high-end resort Lalzit Bay Resort and Spa explains,

“Albania has emerged from a history of communist rule and political instability to a present time of growing prosperity, stable government and hugely encouraging visitor numbers, looking towards a future of EU accession (the country has been confirmed a candidate), bolstered GDP and increasing tourism. And what a country it is – beautiful scenery, close proximity to Italy, easily accessible direct from the UK, a Mediterranean climate, friendly people… Albania has a great deal to offer.

“It is therefore no surprise that the number of foreigners visiting the country are on the up, and with so much to offer to all types of visitor, figures can only continue to move in one direction. This is all very good news for those investing in the country, whether it is as part of big business or buying into the growing property market.”

And Walshe’s mention of business is certainly on the mark. The World Bank has recently released their ‘Ease of Doing Business Ranking’ for 2015, a matrix that scores 189 nations on how hard it is to run a company in their country, and the result was a positive one for Albania. Last year’s ranking saw the country placed 108^th, yet within the space of one year, the nation has risen 40 places to stand at 68^th.

This incredible achievement proves that the hard work that the Albanian government have been doing to support Foreign Direct Investment (FDI), lowering company registration fees, easing the granting of construction permits, and implementing the new law on territory planning, for example, are paying off, making the nation more attractive to those looking to do business and, in turn, successfully make money.

Yet it is not just business purposes that are drawing more and more people to Albania’s shores, the rise in visitor numbers is also largely due to more and more people holidaying in this corner of Europe, according to INSTAT. Growing an impressive 106.4% in just one year (from Q2 2013 to Q2 2014), the number of foreign tourists arriving in Albania on holiday has increased from 95,335 to 196,813.

All this positive movement in both the tourism and business sectors has resulted in encouraging growth in the country’s finances, with the European Commission revealing  2014 GDP growth to be 1.8%, with increases of 2.9% and 3.5% predicted in turn for the coming two years. These statistics make it easy to see why Standard & Poor’s has improved its outlook for Albania’s economy from a rating of ‘stable’ to one of ‘positive’ and also why London-based investment company, Charles Street Securities LLP is backing the country’s first five star resort, Lalzit Bay Resort and Spa.

Lalzit Bay Resort and Spa is the ideal investment option for those looking to capitalise on the growing Albanian economy, as well as those looking to holiday in the beautiful country themselves. The beachfront resort provides luxurious facilities, including a beach club and tennis courts, boutique shops, top restaurants and bars.

Properties range from 1 or 2 bedroom apartments to 3 or 4 bedroom villas, boasting spacious indoor and outdoor space, optional private swimming pools and the very best fixtures and fittings, all inspired by California’s elegant and modern beachfront houses. Prices range from €35,000 to €360,000.

For more information about Lalzit Bay Resort and Spa call +44 845 125 8600 or visit www.lalzitbay.com 

• Size of new developments in Albania grows 149.5% in a year (‘Quarterly Statistical Bulletin’, INSTAT)
• Increasing amounts being spent on new projects, rising 160.1% from Q2 2013 to Q4 2014 (‘Quarterly Statistical Bulletin’, INSTAT)
• Phase 1 of Lalzit Bay Resort and Spa now 70% complete as major milestone reached

A clear indicator that the Albanian property market is on the up, it has been revealed that the size and scale of new building projects in the country are increasing – at an astounding rate.

Figures released by the Albanian National Statistics Office, INSTAT, in their Quarterly Statistical Bulletin have shown that the size of new developments being granted construction permission have grown in 2014 by an impressive 149.6% from a size of 83,420 m² in the second quarter of 2013 to span 208,222 m² in the second quarter of this year.

Marking a turning point for this buoyant market, the booming scale of new building projects has also been supported by eye-opening growth in the value of these projects year-on-year. The INSTAT Bulletin revealed that Q2 2013 saw a figure of 3,003,666 thousand lekë being spent on new building projects granted permits, with Q2 2014 seeing 6,404,601 thousand lekë spent, a staggering 160.1% growth within a single year.

These outstanding figures expressly show that the Albanian new-build market is a hot one, ripe for investment from both domestic and overseas sources. Peter Walshe, Marketing Director for Albania’s first high-end resort Lalzit Bay Resort and Spa explains,

“The property market in Albania has been showing signs of growth for some time now, with EU candidacy being granted and blossoming tourist figures prompting more and more people to discover this hidden gem of Europe. Yet these newly released INSTAT figures point to a real turning point for the country. Building volumes are up, the amount of money being pumped into the sector is rising and investment is increasing from foreign individuals and businesses who are realising that now is the ideal time to buy in Europe’s ‘hidden gem’ – Albania.”

In the second quarter of 2014, 39 building permits were approved in Albania, with 79.5 % of those being for residential buildings. With this sector showing the most growth, certain areas are benefitting more than others. Unsurprisingly, the area in and around the capital Tirana registered the highest proportion of new building projects, with some 48.7% of Albania’s newly confirmed properties being built there, an increase of an astonishing 130% year-on-year from Q2 2013 to the same period in 2014.

Just 30 minutes from Tirana’s international airport, Lalzit Bay Resort and Spa is a prime example of a new project being developed with the backing of UK investors to drive its successful growth. This luxurious resort is situated on the unspoilt Adriatic coast, just 45 miles across the water from Italy and sharing many of its natural charms: of long golden beaches, breathtaking mountain ranges and a sunny climate, yet with an untouched beauty of its own that is second to none.

Following in the footsteps of those new projects being granted permits, Lalzit Bay is one step ahead, with construction on phase one of the project now 70% complete. Infrastructure and building of the apartments are almost finished, as is the superstructure for the first group of villa shells, as well as the subterranean infrastructure.

With five star facilities planned, including a beach club and tennis courts, boutique shops, top restaurants and bars, connecting the resort to the national electricity supply has been a landmark step, meaning that more stages can now naturally evolve from hereon in. Work has commenced on the next five villas – all of which will boast spacious indoor and outdoor space, within phase one. Landscaping is due to begin in Q4 2014, as is development of the water supply too.

The first 80 apartments are 80% sold already, and there are deluxe and villa apartments also available. Properties range from 1 or 2 bedroom apartments to 3 or 4 bedroom villas, boasting  the very best fixtures and fittings, all inspired by California’s elegant and modern beachfront houses. Prices range from €35,000 to €360,000.

For more information about buying in Albania and Lalzit Bay Resort and Spa, call +44 845 125 8600 or visit www.lalzitbay.com 

As their national football teams prepare to face each other in a friendly match on 18^th November at the Stadio Luigi Ferraris, Albania and Italy each begin to size up the opposition. Just 45 miles apart at their closest point and separated only by the Adriatic Sea, these European neighbours may be closely linked in terms of their proximity but is that 45 miles really a world apart when it comes to their property prospects?

Albania’s port city of Durrës is the second largest city in the country, and one of the most ancient, with a history dating back to the 7^th Century BC and city walls to prove it. The largest Balkan amphitheatre is situated here and the golden sands of its beaches as well as those of Lalzit Bay, located just to the north, draw in the crowds, helping to establish the city as a popular tourist destination, albeit one that has yet to reach the giddy heights of its Italian neighbour.

Directly across the sea, Bari is similarly a port city and Southern Italy’s second most important economic hub, not surprisingly twinned with its neighbour of Durrës. Part of the Puglia region, popular with second-home owners, such as face of ‘A Place in the Sun’ Amanda Lamb who has owned two properties here over the years, Bari’s beaches are a mix of pebbles and sand, yet its sights are plentiful, with the Petruzzelli Theatre one of the most lavish opera houses in Italy and the interesting architecture of Bari Cathedral a highlight.

Long-established as a tourist destination, the Puglia region saw in excess of 1.17 million tourist arrivals during January to June 2014, according to the Region of Puglia government tourism agency, Pugliapromozione, with an increase of 7% in visitor arrivals from overseas. Overall, however, Albania can be said to offer more scope for tourist growth, with Visit Albania reporting an outstanding increase of 75% in the number of foreign tourists visiting for holiday and day visits in Q1 2014, when compared to the same period of 2013.

Another indication of this growth potential is the recent establishment of a second tourist office in Albania, situated at Durrës port, which follows in the footsteps of the first located at the capital Tirana’s International Airport.

Both locations have much to recommend them to visitors, sharing a Mediterranean climate in which to explore their many sights, yet it is Albania that offers the lowest cost of living, making visits to its shores more affordable than Italy. On the travel map, however, the allure of both destinations has given them famous connections, with Clint Eastwood, playing Robert in film ‘The Bridges of Madison County’ telling Meryl Streep’s Francesca that he thought Italy’s Bari “looked like pretty country” and romantic poet Lord Byron having travelled through Albania, remarking on its beauty.

In terms of accessibility, both destinations score highly, with year-round flights to and from London and summertime schedules that ramp up frequency and ease of travel. Yet it is Albania that in fact tips the balance, with Albania’s Tirana International Airport welcoming up to five direct British Airways flights a week from London in comparison to the carrier’s up to thrice weekly flights to Bari’s Aeroporto di Bari-Karol Wojtyła.

Because of this, each has therefore drawn a second home market, with Puglia currently edging ahead with a more developed tourism industry (Dame Helen Mirren even has a second property there, noting that the locals are “incredibly hospitable and welcoming”). Yet with Albania comes greater potential in the market for investment opportunities and future growth.

Peter Walshe, Marketing Director for Albania’s first high-end resort Lalzit Bay Resort and Spa explains,

“On first glance it would seem that Italy has more to offer buyers than the Balkan nation, yet a great deal of this is that the market is more established. In recent years more and more people have been visiting the hidden European gem of Albania and discovering its ample charms and there is no sign of this ceasing. What’s more, these prospects became even more pronounced with the recent granting of EU accession status to the Balkan country heralding an exciting and prosperous future ahead.

“In fact Lalzit Bay Resort has convinced many Italian customers that Albania is their next holiday home destination. They tend to be attracted by the low property prices, the cleanliness of the beaches and some of the lowest living costs in Europe: a beer in Tirana costs just 0,60 euros!”

In the meantime, however, property prices in Italy’s Puglia region do reflect its more established nature sitting at around €60,000 for a typical 1 bed apartment and €100,000 for a 2 bedroom apartment. Prices for a typical 3 bed villa stand at approximately €280,000 and a 4 bedroom is priced around €400,000. Albanian prices, therefore, compare favourably for those looking to pick up a property bargain, yet with the same quality.

Lalzit Bay Resort and Spa, situated on the Albanian coast, just north of Durrës, with beautiful views of the Dajti mountain range, instead offers properties of the highest quality within a five-star resort. A low-rise development with a host of excellent facilities – from a beach club and tennis courts to boutique shops and top restaurants and bars – offers a range of property options, from 1 or 2 bedroom apartments to 3 or 4 bedroom villas, boasting spacious indoor and outdoor space, inspired by California’s elegant and modern beachfront houses.

1 bedroom apartments start at €49,000 and 2 bed apartments from €68,000, with 3 bedroom villas starting at €200,000 and 4 and 5 bedroom villas from €330,913, markedly cheaper than average Puglia property prices.

While it remains to be seen who will be victorious when the teams kick off in Genoa on 18^th November, although Italy remains the undeniable favourites, it seems that Albania is the one of the pairing that comes out on top in the property stakes. With a great deal to offer like Italy, yet with a lower cost of living, rapidly growing tourism market and more affordable property options, it is Albania’s Adriatic shores that beckon for wise future property prospects.

For more information about buying in Albania and Lalzit Bay Resort and Spa call +44 845 125 8600 or visit www.lalzitbay.com