Overseas property investors at the international real estate portal Homesgofast.com are turning Albania into a potential emerging market hotspot as enquiries increase in 2011 by over 45 per cent. The reason behind this could be down positive figures releasaed by the Bank of Albania. The Balkan bank report that real estate prices in Albania increased by 1.5% during Q1 2011 compared to a 0.9% increase in the same period in 2010.
Further research from The Bank of Albania states that from the end of 2009 and throughout 2010, prices remained virtually unchanged indicating stability in the market.
Unemployment levels are also down compared to the first half of 2011 with 2% year-on-year growth recorded for Q4 2010. Furthermore levels of FDI rose significantly by 17% last year which combined with Albania\'s strong growth potential and movement towards EU accession enabled credit ratings agency, Standard and Poor\'s, to maintain the nation\'s credit rating at B+B last month.
It is suggested that heightened apartment prices in Albania are a result of rising demand, improved credit access and an increase in construction permits after a reduction throughout 2010.
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.\"
The increased interest could be bad news for property in Croatia which are much higher than Albania. Maharajah \" \"Lalzit Bay Resort has easy access to new international air and road transport routes and is attracting the attention of the growing middle classes across the Balkans. We are finding people priced out of the Croatian market who now consider Albania as an alternative holiday and second home destination.\"
Lalzit Bay will become one of the most desirable resort destinations 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.
Are you looking to buy property in Albania ? Sarande , Durres , Vlore , Qarku I Vlorës , Saranda
Are you looking to rent property in Albania ? Durrës , Tiranës
Author
Nick Marr
I am an internet entrepreneur with a passion for driving big audiences and a love for real estate. I have had plenty of ups and downs which has given me the experience to help others launch their own businesses. I enjoy projects that save consumers time and money, challenge convention and add real value to peoples lives.