Albania tipped as property hotspot as tourist numbers rise

Albania is poised to become a major tourist destination in the next five years prompting interest from property investors who want to buy now and benefit when prices increase, it is claimed.

Experts point out that the country is due to become a member of the European Union in 2014 and this is likely to result in property prices increases as happened in recent new membership countries such as Croatia and Montenegro.

According to Albania’s Deputy Minister of Tourism Suzana Turku, Albania was visited by 1.2 million tourists between January and June of this year while revenue from tourism increased 8.5% in the first half of 2011 compared to the same period last year.

Further data reveals that 94% of the total tourist arrivals into Albania this year were European, with 34% of tourists arriving from neighboring Kosovo, 16% from Macedonia and 10% from Montenegro.

‘Without a shadow of a doubt, Albania will burst forth as a tourist destination in the next five years generating considerable revenue,’ said Ravin Maharajah, partner of Lalzit Bay Resort and Spa, a five star luxury residential development located on Albania’s Adriatic Aveiro. ‘Albania has rebranded itself offering a low cost of living, rapidly developing infrastructure and striking physical beauty, all the ingredients needed for the perfect tourist destination,’ he explained. 

Source: Property Community