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Added 19/03/12

Albania’s property market gets boost from economic growth


According to Albania’s National Institute of Statistics, INSTAT, Albania’s gross domestic product (GDP) increased by 2.6 percent in Q3 2011 compared with the same period in 2010.

The data highlighted that in the third quarter of 2011, the sectors that registered the highest growth were transportation which increased by 19.7 percent compared with the same period in 2010, while trade was up 6.2 percent and industry grew by 4.7 percent.

Meanwhile, a report by Colliers International has predicted that Albania will be one of the best performing growth markets in South Eastern Europe, increasing by over 3 percent with previously flourishing economies such as Turkey lagging behind.

Ravin Maharajah, Partner of Lalzit Bay Resort & Spa, the 5* luxury residential development located on Albania’s Adriatic coastline, said: “Albania is certainly one to watch in 2012 particularly as it is one of the highest economic growth markets in the south eastern European region right now.

“Foreign direct investment into Albania derived from companies Shell and Petromanas joining partnerships to explore for oil in the country will no doubt increase, making a real impact on the Balkan nation. Albania has high hopes for an oil boom, which could provide large cash injections into the nation.

“As a testament to Albania's potential, our customer base is constantly growing with the benefits of buying a beach property in Lalzit Bay Resort outweighing the macro-economic issues affecting the Eurozone.

“With interest rapidly growing and the expectation of increased GDP growth as well as high visitor numbers in coming years thanks to a wider range of infrastructure projects, Lalzit Bay Resort & Spa can provide the perfect property investment opportunity for as little as €38,000.”

Villas in Lalzit Bay Resort and Spa include private gardens and terraces, and a range of facilities including private swimming pools, a BBQ area, tennis courts and restaurants.



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