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Tourists surge to Albania as Balkans boost continues

admin — 17/08/2011 12:35:00

Almost half a million more tourists surged to Albania in 2011 compared to last year. The huge increase in visitors has seen 2.15 million people travelling to the country as The Balkans’ popularity boost continues.

According to the UNDP Resident Coordinator, Albania is now the second biggest investment market in the region, with foreign investment exceeding $1 billion in 2010. Albania’s boost follows success in Bulgaria, as more investors are attracted to the area's growing market.

Bulgaria, currently one of the top ten most popular destinations for property buyers, has seen construction on the up in 2011, as well as an increase in real estate transactions. Other countries in The Balkans, such as Bosnia Herzegovina and Macedonia, have also reported an increase in tourist enquiries.

TripAdvisor’s Emma O’Boyle told The Telegraph: "We’re seeing rapidly growing interest in destinations like Rwanda and the Republic of Macedonia, showing that British travellers may be becoming more intrepid and looking for something different than the traditional beach holiday."

Albania is the only country in The Balkans where investment is increasing in the face of global financial worries. Property professionals are now predicting that overseas buyers will follow tourists and invest in the emerging market.

Interested in property in The Balkans?

Browse our listings of apartments, houses and other property in Albania:

http://www.themovechannel.com/property/albania

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And the world's best building is...

Catherine Deshayes — 27/10/2008 12:38:00

The first ever World Building of the Year Award winner has been announced, beating off more than 700 other entries from 63 countries...

You may well wonder what a Spanish rubbish dump, the Royal Danish Yacht Club and a Japanese Dental Clinic have in common.

I'll put you out of your misery- they were all shortlisted for the first ever World Building of the Year Award, which celebrates architectural prowess.

Entries consisted of buildings that were new, restored, rehabilitated or converted and completed between January 1st, 2007 and June 20th, 2008.

Paul Finch, Editor of The Architectural Review and Programme Director of the World Architecture Festival (WAF) Awards, said that the most significant building in the world in any given year was not necessarily one of the most high-profile.

"It could be that a primary school in Glasgow or a small church in Peru is actually the building doing most to alter the way we think about the building type," he said.

In the end, Dublin based Grafton Architects' new faculty building at Milan's Luigi Bocconi Free University grabbed gold at the awards in Barcelona.

The University dates back from 1902 and has grown in the past 100 years from a privately funded institution to an international university for business, economics and law.

The campus now comprises an entire neighbourhood within a residential and commercial district.

The winning faculty building contains new conference and lecture rooms, auditorium and research offices for 1000 professors and postgraduate students.

Pic: Bocconi Free University's new faculty building

The 722 entries were split into different categories according to the building's purpose, ranging from learning, civic, culture, shopping, sport and pleasure. The winning building fell into the ‘learning' category.

Each of the categories chose a winner, and then the overall winner was deemed the ‘World's Best Building for 2008.'

The aforementioned Spanish rubbish dump, (which had been transformed into a green terraced agricultural landscape) won the Energy, Waste and Recycling category.

The judging panel, which was headed up by Robert Stern, who replaced Sir Norman Foster at the last minute after one of his designs made it to the final, was looking for ‘architecture that thought about complex issues in an imaginative way.'

The ‘totally 3D' building was chosen as the overall winner as it ‘fitted within the urban landscape but still stood out.'

Mr Stern said, "The use of space, light and local materials captured the essence of the city and the desire of the university to be connected with its surroundings.

"We were impressed by the building's physical and conceptual density," he added.

The new faculty building will have its official opening later this week.

Picture by pontuse

Albanian Riviera voted Top Value Destination for 2012

admin — 04/11/2011 08:45:00

Travel guide Frommer's has declared the Albanian Riviera as the Top Value Destination for 2012.

Unveiling their list of top travel destinations for next year, the experts at Frommer's also polled readers to find out where they wanted to visit in 2012 with the beautiful Albanian Riviera emerging as a winner. The list included something for everyone, from large cities to quiet beach towns and Riverside homes, but highlighted Albania as having all the natural attractions of its Croatian counterpart in the north but without the large crowds and high prices.

Ravin Maharajah, Partner of Lalzit Bay Resort & Spa, the 5* residential development on Albania's Adriatic coastline, commented: "Albania is full of gleaming white beaches, easily among the most beautiful in Europe. Within it lies a rich history and a land of legends and ancient civilizations. It is a nation where travellers will enjoy authentic traditions and cuisines, as well as a friendly welcome."

With a 200 per cent increase in tourists visiting the Balkan nation between January and August this year compared to 2008 - as well as the International Monetary Fund predicting strong economic growth of 3.5 per cent for 2012 - the country is being recognised as a favourable climate for foreign and domestic business as well as those on the lookout for property.

Interested in top value Albanian property?

Browse our range of houses, flats and other real estate in Albania...

http://albania.themovechannel.com/property/all

... including apartments in the Lalzit Bay resort:

http://www.themovechannel.com/property/details/4287092/

Albania economy bucks fears of Europe-wide recession

Ivan Radford — 27/10/2011 09:17:00

Albania has bucked fears of a Europe-wide recession as the IMF predicts GDP growth of 3.5 per cent next year.

The report released by the International Monetary Fund has estimated that Albania's GDP growth for 2011 will be around 2.5 per cent, reaching 3.5 per cent in 2012. Although the growth forecast for this year is lower than the registered 3 per cent GDP growth seen in 2009 and 2010, the Albanian government is predicting a more positive scenario, signalling excellent news for investors in the Balkan nation.

In its report, the IMF stated that it expected the strong performance of the leading emerging nations to be the main driving force behind growth in the world economy, highlighting that emerging countries such as Albania coped well with the global crisis after implementing strong policies in the country before the economic downturn took place. In addition, the findings indicate that Albania is one of the best performing Balkan nations this year with Bosnia and Herzegovina only experiencing a 2.2 per cent GDP increase followed by Montenegro at 2 per cent. Croatia is also expected to expand the least this year with only 0.8 per cent GDP growth.

Ravin Maharajah, Partner of Lalzit Bay Resort & Spa, a luxury residential development located on Albania's Adriatic coastline comments, "Albania has much to offer investors. Indeed with the IMF suggesting that the Eurozone and the US could fall back into recession, it would appear that Albania will lead the way in faster economic growth in the coming years. The report even predicts Western European nations such as France to fall behind Albania's growth."

With interest in the resort rapidly growing and the expectated GDP growth as well as high visitor numbers thanks to a wider range of infrastructure projects, Albania could provide the perfect property investment opportunity for those trying to avoid to the Eurozone recession.

Want to own a piece of Albania's growing economy?

Invest in Lalzit Bay Resort condos and apartments from just €47,92:

http://www.themovechannel.com/property/details/4287092/

Albania takes the high road thanks to €1 billion motorway

Ivan Radford — 07/10/2011 08:56:00

A little-known motorway project in the Western Balkans interior is about to have a significant impact on the development of Albania's coastline.

Representing the region's largest infrastructure project in recent years, South Eastern Europe is set to see huge economic benefits now the first section of the 120km Morine to Merdare motorway connecting central Kosovo with Albania and the Adriatic coast is almost ready to open.

The estimated €1 billion infrastructural development in Kosovo will be of strategic importance, running from Morine on the Albania border to Pristina, the capital of Kosovo. The four lane motorway extension will now connect Durres-Kukes motorway with Prizren and Pristhtina.

Indeed, while the new motorway will undoubtedly help boost the Kosovan economy by creating an estimated 3,000 jobs, neighbouring Balkan nation Albania, reached by many tourists through Kosovo or Macedonia will also reap the positive effects with travel to tourist destinations, such as Lalzit Bay and the Adriatic Sea, made much easier.

Ravin Maharajah, Partner of award winning Lalzit Bay Resort & Spa, the new 5* luxury residential development located on Albania's Adriatic coastline comments,

"The economic benefits of this new motorway extension will be felt relatively quickly across the Balkans and especially Kosovo and Albania."

"The reduction in travel times with the existing motorway to Kukes in Albania already makes a significant difference to visitor numbers into Albania from Kosovo. There's been a 16% increase in tourist numbers into the country in the first eight months of this year as a result of improved infrastructure generated from the $400m Tirana-Elbasan highway project and increased frequency of flights most recently between London and Tirana."

"Certainly, we feel that infrastructural developments such as these have played a crucial part in creating the incredible level of interest we have seen at Lalzit Bay Resort & Spa. The first two blocks which we are about to start building are already almost sold out which is an incredible achievement. With this in mind, we are extremely excited to see the valuable outcomes for both Albania and Lalzit Bay once the Morine to Merdare highway is completed."

With increased visitor numbers expected and an award-winning resort development under way, Albania is certainly on the road to real estate success.

Interested in Albania property?

Browse our listings of Lalzit Bay resort apartments and other overseas property:

http://albania.themovechannel.com/property/resort/

3 million visitors flock to Albania this year

admin — 28/09/2011 09:17:00

Photo credit: savagecat

The number of people visiting Albania in the first eight months of this year has doubled since 2008. The country welcome 3 million tourists between January and August of 2011, as the Balkans continue to attract foreign interest.

The tourism growth has been a constant drive for the Albanian economy, with a 16 per cent increase in tourists this year than 2010. Approximately 300,000 more people visited the country, a jump largely attributed by the Ministry of Tourism to an improved infrastructure and quality of service.

New roads, ports and airports have all been introduced, pushing up international demand. While 870,000 of the tourists recorded were Albanians residing abroad, 2.1 million of the 3 million were foreign citizens, indicating that overseas interest in the Balkans is still rising.

Albania’s progress is only matched by Bulgaria. Continuing to reside in TheMoveChannel.com’s Top of the Props charts, international demand for bargains in the Balkans has been fuelled by the price drop of property in Bulgaria’s ski resorts, which are now 50 per cent cheaper than two years ago.

Developments are therefore on the up in both countries, with Albania’s stretch of coast between Vlore and Sarande – dubbed the “Albanian Riviera” – seeing a rapid wave of construction. But while some developers rush into projects without planning permission, the Albanian property industry praised the development of the Lalzit Bay Resort at the 2011 RealEX Conference.

The Adriatic coast resort was awarded project of the year at the conference, which took place in Tirana, for its high quality infrastructure and strong commitment to the environment.

Resort partner Ravin Maharajah commented:

"Albania is no longer a country hiding in the shadows thanks to an ever improving infrastructure and real GDP growth. Construction projects such as the $400m Tirana-Elbasan highway and increased frequency of flights most recently between London and Tirana have made huge contributions to rising tourist numbers. As well as this, the country has been experiencing high levels of positive publicity with the likes of legendary business magnet Donald Trump speaking of the rapidly growing Albanian property market at the RealEX conference recently.”

"In addition, Albania has become a distinctive emerging market and has been attracting firm interest from foreign investors with foreign direct investment (FDI) in Albania exceeding the $1 billion mark last year according to the UNDP Resident Coordinator."

Interested in picking up a Balkans bargain?

Browse our listings of Albanian and Bulgarian property, including the award-winning Lalzit Bay Resort:

http://www.themovechannel.com/property/details/4287092/

Video: Albania confident amid European debt crisis

admin — 23/09/2011 05:55:00

Albania is confident that its economy can stay strong, despite the ongoing European debt crisis.

Because of the country's positive business climate, growing economy and stable house prices, Prime Minister Sali Berisha is certain that the wider economic uncertainty will not affect Albania.

He commented: "There have been no relevant consequences in our economy. We are not a Eurozone country, although we are not dominated by the Euro. Immigrants that came from Greece and Italy, they found in Albania a better business climate."

Watch the full video on TheMoveChannel.tv:

http://www.themovechannel.tv/2011/09/albania-confident-amid-european-debt-crisis/

Albania economy predicted to grow as property prices rise

admin — 01/09/2011 09:31:00

Albania remains a top investment location as the country's Central Bank predicts continued economic growth in 2011.

According to Albania's Central Bank, economic growth in the second quarter of 2011 will be around 3.4 per cent, the same level registered in Q1 2011 with a forecast of lower inflation for the remainder of the year.

Over the past decade, Albania's economy has enjoyed real GDP growth and despite the economic downturn in 2008, the Balkan nation was one of only two countries in Europe that not only recorded economic growth of 0.4 per cent in Q1 2009 but also an impressive 6 per cent growth from 2001-10, one of the strongest performances to have taken place throughout Europe.

In addition to economic growth, The House Price Index in Albania has once again increased by 1.6 per cent during the second quarter of 2011 with The Bank of Albania stating that from the end of 2009 and throughout 2010, prices remained virtually unchanged indicating stability in the market which will come as positive news for those wishing to invest in property in Albania.

According to Albania's Central Bank, increases in the house price index, which saw an overall average increase of 13.6 per cent for the entire year back in 2009, are a reflection of the undervaluation of Albania's currency, the Albanian Lek, and increased prices within the Albanian property market while rising demand, improved credit access and an increase in construction permits have also thought to have pushed up property prices.

Ravin Maharajah, a resort owner based on the 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.

"A recent poll by Arrowtrak of businesses in the region discovered that around 37% were considering investing into the Balkans, and with more overseas investment, Albania will see an increase in expats moving to the area which will in turn boost property prices."

Interested in property in Albania?

Browse our listings of houses, apartments and other Albanian property:

http://albania.themovechannel.com/property/all

Tempted by Tirana? Albania’s capital sees 23% increase in passenger arrivals

admin — 05/08/2011 06:09:00

Latest statistics released by Tirana International Airport (TIA), which serves the Albanian capital, reveal that in the first half of 2011 the number of passengers increased by an impressive 23%.

According to TIA figures, the airport handled 793,984 passengers between January and June 2011 - a new record! Air traffic movements and cargo handling also increased, by 10.6% and 17.7% respectively compared to the same period last year.

Airport officials are confident that the high number of passengers is as a result of the visa liberalization process and with tourism figures up 8.5% year-on-year Albania is certainly enjoying a boost in popularity.

The airline carrying most passengers in and out of Albania is Italian owned Bellair with 46.2% of the traffic although this could be set to change with the news that British Airways is starting daily flights to Albania rather than their previous thrice weekly service.

Source: ABPropertyMarketing.co.uk

Albania tipped as property hotspot as tourist numbers rise

admin — 18/07/2011 11:17:00

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 coast. ‘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

1.2 million visit Albania in first half of 2011

Sarah Kendell — 14/07/2011 11:59:00

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 neighbouring Kosovo, 16% from Macedonia and 10% from Montenegro.

Other European visiting nations included Greece (8%), Italy (6%) and Germany (3%) whilst globally 3% of Americans, 2% of Asians and 1% were noted as others who had the Albanian attraction in H1 2011.

Ravin Maharajah, Partner of Lalzit Bay Resort & Spa, the 5* luxury residential development located on Albania's Adriatic coastline comments,

"Without a shadow of a doubt, Albania will burst forth as a tourist destination in the next 5 years generating considerable revenue as highlighted in these latest findings. 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.

"Due to join the EU in 2014, this country shows every positive sign of going the way other Southern European countries such as Croatia and Montenegro have over the past 10 years. Interest from international second home buyers is steadily increasing as people realise the buying opportunity is now - not after the prices have gone up."

Lalzit Bay Resort and Spa, a beautiful 5* beachfront development in Albania is fast becoming a desirable resort destination in the Eastern Mediterranean as well as an appealing investment choice.

From as little as €29,000 for a studio, Lalzit Bay Resort and Spa affords holiday makers superb on site facilities including a beach club, tennis courts and a wide choice of international cuisines on offer in the restaurants.

Lalzit Bay will become one of the most desirable resorts 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 http://www.lalzitbay.com/

Woods Bagot design stunning new 5* Balkan Resort

admin — 27/05/2011 07:42:00

Award-winning architects, Woods Bagot, have been working on the Master Plan for the Balkan’s latest 5* resort – Lalzit Bay Resort & Spa, located on the stunning Adriatic coast of Albania.

Woods Bagot, who have designed and developed urban and resort masterpieces throughout the world, are working closely with the team of UK based developers behind Lalzit Bay to develop the luxury residential resort complex which is due to deliver the first properties in late 2012.

Lalzit Bay will more than lead the field of residential development in Albania, if not the Balkans, being on a par with other prestigious developments designed by Woods Bagot such as Minthis Hills in Cyprus, winner of the Best Golf Resort and Best Architecture (Multiple Use) CNBC Europe and Africa Property Awards.

Woods Bagot was selected by the visionaries behind Lalzit Bay due to the shared core values each company holds, namely to deliver a functional and operational development that will support cultural needs and create solutions which will work for the developer, the builders and ultimately the owners.

Source: LalzitBay.com

New P&O cruises to boost Albanian tourism

admin — 04/04/2011 11:51:00

International cruising giant P&O has added the Albanian resort area of Durres to its ports of call in 2011, in a move which is sure to see agents and developers receive a shot in the arm for property sales.

Albania, named as the top new tourist pick by travel bible Lonely Planet, has already been receiving a considerable pick-up in interest from property buyers. The latest news that Durres is to be included in P&O's new port schedule along with top tourist destinations Hong Kong, Madeira and St Lucia should see an increase in the 600,000 tourist arrivals its untouched beaches already receive each year.

"Now is an exciting time for Albania in terms of both tourism and economy", said Ravin Maharajah, director of new Durres development Lalzit Bay Resort & Spa. "Albania is being recognised by the likes of P&O cruises as an up and coming hot spot for visitors."

Buzz continues for Albania tourism

admin — 02/02/2011 11:56:00

Albania, a former Eastern-bloc country rebranding itself "a new Mediterranean love," is set to be one of the hottest destinations of 2011. Visitor numbers were up 42.5 percent for the first three quarters of 2009, the most recent figures published by Albania Tourism, and although the majority of visitors still come from neighboring states such as Kosovo, Albania is putting itself on the map.

So what can this year's tourists look forward to when planning a trip to Albania?

1. Dig Albania has a long history dating back to the Illyrian, Greek and Roman civilizations and is fast becoming an archeological hotspot again after a lull at the end of Communist rule. Don't miss learning about the history of Durres, which is built on top of the settlements of Epidamnos (or Dyrrachion).

2. Eat. Albania's food reflects its geographic position, partly Mediterranean, partly Asian. Tavë kosi, the national dish, is baked lamb and rice, served with yogurt sauce (phenomenally popular in its own right in Albania).

3. Get outdoors. Albania has a stunning landscape, offering adventure in the mountains and relaxation on the beaches. Don't miss Pogradec and Lake Ohri (on the Macedonian border), the 2.4 million-year-old lake protected by UNESCO for its biodiversity and harboring unique species covering the entire food chain.

Source: The Independent

Albania firmly on travellers' radar for 2011

Sarah Kendell — 21/01/2011 11:39:00

Since the end of the Balkan war and independence in the early 90's the Balkans have started to open up to tourism. Thus far, it has mostly been back packers and intrepid travellers who have made their way through this fabulous country.

Albania has had a bad reputation internationally and has been plagued by social and political problems. Currently the country is undergoing a massive internal change, huge amounts of investment have been poured into the infrastructure, the government is working with overseas advisors to implement change and there is a definite desire to be on a par with their neighbours such as Greece, Croatia and Italy.

The FT and The Lonely Planet Guide have listed this country as the top European destination for 2011 and there are many reasons why they are spot on in their estimations. Greece and Italy have been loved by tourists for decades and there is every chance that Albania will achieve the same accolades once it has had a chance to shine and show the rest of the world what a fabulous destination it is.

So what is it about Albania that has made Lonely Planet put this nation at the top of the list? Could it be the enormous potential for tourism that is about to erupt? This nation encapsulates an ancient history, beautiful landscape, a rich anthropology, traditions and culture. The Albanians are famous for their warmth and hospitality and the country has a vibrant, young society which should be a recipe for success.

Next big thing: Albania?

Catherine Deshayes — 22/12/2010 19:12:00

The Albania property sector, one of the fastest emerging markets in Europe, could be boosted by the introduction of new low-cost flights from London to Albania...

Belle Air, a privately owned low cost airline, yesterday introduced the first flight from Albania to London Stansted. Two flights a week to and from Albania will operate on the winter timetable up until March 2011. Ravin Maharajah, sales director of Lalzit Bay & Spa Resort believes that the introduction of could appeal to more Brits willing to contemplate buying a home in Albania.

Maharajah said: "These flights reinforce Albania's growing position with the UK market in terms of both tourism and property purchasing. Albania is also celebrating this week as it has officially joined the Schengen Area Agreement allowing visa-free travel for residents throughout the 25 member states."

Albania is currently undergoing a major transformation and a growing number of international property investors are keeping one eye on the Albania property market, with a view to profiting from any potential capital growth.

Maharajah added: goes onto say: "Many people have no idea of the wonderful beaches and scenery in Albania and our resort in Lalzit Bay, just 30 minutes from the capital Tirana, is set to be one of the most luxurious destinations in the Eastern Mediterranean. With apartments available from just €50,400 [£43,000] this is such good value and they are selling quickly."

Source: www.aplaceinthesun.com

Albania a ‘good bet'

Catherine Deshayes — 03/04/2009 09:28:00

Albania remains a good place to invest in property for those seeking medium to long-term investment returns, according to a report on Albania Estate...

Despite the global economic slump, the report says that the Albanian property sector remains firm, with new developments being constructed across the country.

It adds that residential prices are still rising at up to 10 per cent per annum, with the greatest appreciation being recorded along the coast and in the capital city of Tirana.

Given the immature nature of Albania's property market, combined with its economic stability, a growing number of domestic and international investors could start leaning towards buying property in Albania over the next few years.

Source: www.homesoverseas.co.uk/news

Emerging markets hardest hit by crunch

Catherine Deshayes — 11/03/2009 10:24:00

Emerging markets - not long ago the darling of investors - are likely to be hardest hit by the global slowdown. These economies are fragile, and not well equipped to deal with these circumstances. A catastrophe could be brewing for emerging markets, but the World Bank hopes to garner support - and hopefully help these markets avoid the worst of it...

The World Bank estimates that the global economy will likely shrink for the first time since World War II - at least five percentage points below potential - and emerging markets will suffer the hardest hits with severe long-term implications.

In its latest report, ‘Swimming Against the Tide: How Developing Countries are Coping with the Global Crisis,' the World Bank says that 94 out of 116 developing countries have experienced a slowdown in economic growth. Of those, 43 have high levels of poverty.

And the most affected sectors are those that were the most dynamic not too long ago: Urban-based exporters, construction, mining and manufacturing - the result of shrinking global trade that's on track to record its largest annual decline in 80 years.

Developing countries are facing a £197 billion to £510 billion financial shortfall. But the biggest private sector creditors are seeing the biggest loan demand for high-income countries, choking their ability to loan to emerging markets.

And the emerging economies that can secure loans will face higher borrowing costs and lower capital flows, leading to weaker investment and slower growth in the future, the World Bank said.

"When this crisis began, people in developing countries, especially those in Africa, were the innocent bystanders in this crisis, yet they have no choice but to bear its harsh consequences," World Bank Managing Director Ngozi Okonjo-Iweala said in the report.

"We must look at poor people as assets and not liabilities. The new globalization should mean we adopt new ways of caring for our infants, educating our youth, empowering our women and protecting the vulnerable," he added.

All totaled, only one quarter of the most vulnerable countries have the ability to finance measures to economic downturn - such as job creation and safety programs. The rest will likely see already drastic poverty worsen, the bank said.

"We need to react in real time to a growing crisis that is hurting people in developing countries," said World Bank Group President Robert B. Zoellick.

"This global crisis needs a global solution and preventing an economic catastrophe in developing countries is important for global efforts to overcome this crisis.

"We need investments in safety nets, infrastructure, and small and medium size companies to create jobs and to avoid social and political unrest," he added.

The best way to ease the damage, World Bank Chief Economist and Senior Vice President Justin Yifu Lin says, would be for developed countries to spend a portion of their stimulus plans on developing countries.

"Clearly, fiscal resources do have to be injected in rich countries that are at the epicenter of the crisis, but channeling infrastructure investment to the developing world where it can release bottlenecks to growth and quickly restore demand can have an even bigger bang for the buck and should be a key element to recovery," added Mr Lin.

The World Bank's report will be presented at this Saturday's meeting of the G-20 finance ministers and central bank governors.

Written by Mike Caggeso for Money Morning.

Picture by monique72

Balkan property rights ‘still a challenge'

Jaimie Kanwar — 27/02/2009 12:26:00

The 2009 International Property Rights Index shows that the protection of property rights still remains a challenge for most of the Balkans...

The Index incorporates 10 variables, divided into three main components: legal and political environment, physical property rights and intellectual property rights.

Greece at 39th place out of 115 countries is ranked highest among all the Balkan countries, with Slovenia the runner-up at 48th place.

Then follow Bulgaria and Croatia, on the 59th and 60th spot respectively, Romania at 64 and Montenegro at 95. Macedonia is ranked 97th ahead of Serbia at 100, Albania at 104 and Bosnia & Herzegovina at 108th place

Same as in the last three years, Finland tops the Index followed by Denmark and the Netherlands, Australia, Switzerland, Austria, Iceland and Singapore.

Source: www.balkaninsight.com

Expert hails ‘incredibly resilient' Albania

Jaimie Kanwar — 23/02/2009 13:46:00

The global economic meltdown could see a flurry of foreign property investment in Albania, claims one insider...

According to one overseas property expert, the south-east European nation is one of the few markets to have come through the credit crunch relatively unscathed.

Les Calvert, director of the Property Abroad portal, specifically recommended the capital Tirana, where entry level foreign investors can purchase a new build apartment from as little as £17,000.

Mr Calvert said: "Albanian property...has displayed an incredible resilience to the credit crunch. We are recommending that investors get in now while prices are still relatively low."

He added that the entrance of "multi-million euro" Real Estate Investment Trusts would "practically ensure those who buy now profit greatly over the mid-long term".

Source: www.Axiafx.com

Global phenomenon

Catherine Deshayes — 11/11/2008 10:45:00

Worsening economic conditions have now taken a toll on almost every commercial property market in the world, according to a global survey of real estate surveyors...

The past few months have seen a sharp deterioration in performance and demand for real estate in many regions that had previously appeared resilient to the credit crisis, in particular parts of Asia and Eastern Europe.

The slump in commercial property is well established in mature markets such as the UK and US, but a report today from the Royal Institute of Chartered Surveyors shows that there are few property markets in the world that remain unscathed by the economic crisis.

The net balance of movements in global rents turned negative for the first time in the survey's history, led by weakness in the US, Japan, Spain, Ireland and India, while property values also worsened markedly in the third quarter.

The report, which measured sentiment among surveyors about the value and tenant demand for property, singles out the Indian market as being particularly hard hit. The region has attracted many overseas investors hoping to tap into the property needs of a previously booming economy.

Rising interest rates, higher inflation and a lack of liquidity is affecting confidence in the country, says the report, and 45 per cent more surveyors reported a fall in occupier demand compared with six per cent in the last quarter. The balance of surveyors reporting investor purchases plummeted from zero to minus 73.

The biggest slump in capital values has been in Eastern Europe, a marked turnaround considering expectations of growth only three months ago.

Source: The Financial Times

New property sites launched

Catherine Deshayes — 10/10/2008 09:49:00

TheMoveChannel.com, the leading international property portal, announces the launch of over 80 country specific property sites...

Each country site features in depth property listings that can be filtered by a multi criteria search engine. The investment opportunities listed include both residential and commercial properties, land and more unique property types.

Developers, estate agents and private owners who advertise with TheMovechannel.com will double their exposure by appearing on both the main TheMovechannel.com international property portal and the relevant country portal that their properties are located in. Advertisers however will not be charged any fee for this additional coverage.

Buyers can gain a valuable insight into countries through the dedicated country news, features, email newsletters plus online buying and selling guides.

Dan Johnson, Managing Director, comments, "We've recognised in the toughening real estate market, investors are adopting a more sophisticated and informed buying process.

"The new portals not only provide detailed information on the property stock available in a particular country but also fill in the gaps in investors' knowledge of a market through reference materials and frequent news updates," added Mr Johnson.

Source: www.themovechannel.com

Albania gets cash boost for EU entry

Catherine Deshayes — 02/10/2008 11:24:00

The European Commission is granting Albania £193.2 million to assist its preparations for entry into the European Union...

The money will be paid over the next three years and will go towards improving the country's agriculture, transport, energy, environmental and regional development, as well as police and judiciary improvement.

This in turn should improve the quality of housing in Albania and could boost international demand for residential properties.

The European Commission office said that the programme is designed to help prepare the country for future European Union accession.

Albania is one of the poorest countries in Europe and is heavily reliant on donations, having received in the region of £950 million in aid from the EU since 1991.

Source: Turkish Daily News

Albania and Montenegro to record best economic growth in Balkans

Jude Buttle — 01/09/2008 13:07:00

According to the International Monetary Fund's forecasts, the economies of Albania and Montenegro are expected to achieve the strongest growth in the Balkans region this year.

The economies in Albania and Montenegro are projected to grow by 6% and 7.2% respectively by the end of 2008. Bulgaria and Bosnia and Herzegovina are expected to co-occupy third spot with a 5.5% expected economic growth, followed by Romania (+5.4%), Macedonia (+5%), Croatia (4.2%) and Serbia (+4%).

Countries in the Balkans, despite possessing relatively underdeveloped infrastructure, are attracting international investments. In particular their property markets are seeing an increase of building constructions and an influx of foreign investors, who are attracted by the regions affordable prices and growing economies.

Albania poised for a property boom

Catherine Deshayes — 08/08/2008 14:06:00

Are the economic ingredients a recipe for investment success in this fledgling property market?

Albania is a relatively young hopeful among Europe's emerging property markets.

The country, which only broke free from communist rule in 1992, has been working hard to make itself an attractive destination for overseas property investors.

Infrastructure improvements, approval for membership of NATO and the EU, no restrictions for foreign buyers and a flat tax rate of 10% are all adding up to a prospective investment location that is worth monitoring over the next few years.

Regional Director of Colliers International Southeast Europe, Philip Bay, said, "We have actually been operating here for many years.

"We are very confident that Albania has a bright future and can look forward to sustainable growth.

"The country is at an early state of real estate development and will become an attractive market in three to five years," Mr. Bay added.

Economic growth

Albania's economic growth during 2007 was around 6%. In the same year, the government approved a fiscal package which ticks all of the right boxes for investors.

It included a flat rate of 10% on personal income tax, corporate tax and capital gains tax and no VAT on property purchases with foreigners allowed to own 100% of Albanian companies.

In addition, the country has some of the cheapest property prices in Europe, with annual price growth of around 30% year-on-year in the capital, Tirana and coastal regions, indicating all the right ingredients of a newly emerging property market on the cusp of a boom.

Infrastructure

Albania is currently making major infrastructure improvements with the help of loans totaling more than £90 million from the Japanese and Austrian governments.

The money is being used to make a broad sweep of improvements which will include upgrading the main Albanian port of Durres - 35km from Tirana and an important link to the country's Balkan, Black Sea and EU neighbours.

International airport

Tirana International Airport was upgraded in 2007 when improvements included a new terminal building and airport access roads.

The airport now has a capacity of around 1.5 million passengers and offers direct flights to and from London, New York and a range of European cities, attracting tourist and foreign investors from around the world.

Market Analyst at Obelisk, James Gonzalez, highlights the increasing amount of foreign investment in Albania as a major indicator for the growth of its property market.

"Within the last five years, the number of commercial buildings springing up on the main road which runs between the airport and the city of Tirana has grown considerably and companies such as Hewlett-Packard, Peugeot, Citroen have moved in.

"Vodafone have been in Albania since 2001 and earlier this year announced that it was expanding operations there. I think this is definitely one to watch," Mr. Gonzalez added.

To find out more about Obelisk, call free on 0808 160 0670 (UK) or 1800 932 514 (IRE), or visit www.obeliskinternational.com.

Albania on the path to success?

Jaimie Kanwar — 02/06/2008 00:00:00

Albania is reaping the rewards of continuing economic success, argues one company…

And while it has a great deal of progress still to make to free itself from the status of the continent's poorest country, Property Secrets believes it is ‘firmly headed in the right direction’.

Central Bank Governor Ardian Fullani announced last month that the country now had a realistic chance of making a serious application to join the EU within a decade as FDI continues to drive growth and the government continues to liberalise the economy.

Ten years may sound like a long time, but many pre-accession benefits come to those countries perceived as being solidly on track to join the EU. In Albania's case, these monetary benefits would make a dramatic and rapid difference.

Working hard to improve

Albania was last month invited to join NATO - an essential precursor to being taken seriously as an EU candidate. It was praised by NATO for being a 'voice of moderation in the region'. The NATO invitation will only serve to boost business confidence and investment in the country

The country has worked hard to improve its woeful infrastructure and attract more FDI. And it's worked. FDI will go up this year to 6%+ of GDP and as a sign that the country is gaining in confidence and reputation it has already started issuing international bonds in the Albanian currency and was due to sell its first euro-denominated bond in May - a sure sign of increased confidence.

A growing economy

The economy grew around 6% in 2007 with inflation at a low 2.5%. The budget deficit is under 4% of GDP. The current account deficit stands at around 12%, but is easily met by remittances from overseas, officially estimated by the central bank as having doubled over the last five years to €1 billion, or 11% of GDP.

The real remittance figure, though, is a great deal higher as many thousands of Albanians overseas fly home regularly carrying cash. A great deal of this cash is going into the most secure investment Albanians can find - property.

A spokesperson for Property Secrets commented: “We forecast much the same level of growth for 2008, 6%, with a slight pick up in 2009”.

Albania takes a 'giant step forward'

Jaimie Kanwar — 23/05/2008 00:00:00

Recent events have enhanced the appeal of Albania as a property investment destination...

At its April meeting in Bucharest, NATO extended a full invitation to Albania and Croatia to join the fold. This is a major step in Albania's integration into Europe, and a pivotal point in its path to achieving full membership to the European Union.

Though, much work is necessary on the part of Albania, the invitation proves that the steps already taken have been the right ones, and that the desire is there to do everything necessary to achieve full EU membership as soon as possible.

Due to its growth, potential and having things like NATO and EU membership on the horizon, Albania has become a property investor's favourite within Europe.

Solid economic growth

Liam Bailey Head of International research for David Stanley Redfern put forward a possible reason for Albania's current popularity: "In the last 2-3 years Albania has put political and ethnic tensions behind it and began to see some really solid economic growth, with around 8% GDP growth on average.

“I personally believe watching other countries in the region like Bulgaria and Montenegro start to flourish on the international investment stage, triggered the government and the entire population to take the necessary steps to end the tension for the good of them all. Albania has been growing even on its own strengths, but EU grants and loans to help prepare the country for full membership will only generate even greater growth."

"In that respect, the long road and work needed to gain EU entry is actually good for property investors, because property bought now at low prices, will continue to grow in value throughout the period when EU money is bolstering economic growth in the country. This makes Albania a safe investment destination, even in the face of global adversity."

Albania ‘holds many surprises’

Jaimie Kanwar — 15/04/2008 00:00:00

As investment continues to pour in, Albania is 'on the cusp of a property boom’...

Barrasford & Bird Worldwide liken Albania to the emerging market of Bulgaria some three or four years ago, and according to the company, the country is at the very cusp of a property boom.

There is definitely some merit to that claim: European investment is pouring into the region in the millions and the capital city of Tirana is catching the eye of keen investors, especially with EU accession on the cards for 2014.

Robin Barrasford, Managing Director of Barrasford & Bird Worldwide, explains: “Albania holds many surprises. Gone are the days of communism, revealing a country and a people that are embracing a bright future within Europe. Rolling countryside, vast and dramatic coastlines and bustling modern cities await to surprise those that visit and visiting is easy with direct flights from the UK.

Albania shares the same stunning coastlines as Montenegro and Croatia. Coastal resorts are charming and underdeveloped affairs with potential obvious around every corner. The capital city of Tirana is where the surprises certainly hold promise. The bustling city centre of Skanderbeg Square is a protected site of great significance. Outside the city limits Dajti Mountain soars skyward, drawing in the tourists with its beautiful views and dramatic scenery.

Due diligence ‘essential’

Dan Johnson, Managing Director of TheMoveChannel.com, agrees that Albania is on the rise, but urges investors to proceed with caution: "It's only in the last 12 months that Albania has started to figure at all on the investment radar.

"For most investors it's still a relatively unknown quantity - it's not easy to find accurate details on local prices, land securities, the purchase process or legal system. This makes it even more important to make sure you get a good lawyer that's familiar with the local practices and the particular issues they present.

”There's always a balance between risk and reward and the lack of transparency and information is something that brave investors will have to contend with in many emerging markets where there is the biggest potential for capital growth."

Investment Property Watch - Feb 2008

Jaimie Kanwar — 15/02/2008 00:00:00

Real estate in emerging locations proved to be massively popular again in January on TheMoveChannel.com, with far-flung destinations dominating the top 10 list of hot investment properties on the site...

January’s top ten proves once again that investors are well and truly moving out their comfort zones and shunning established markets like Spain and France, preferring instead to take calculated risks on cheaper properties in expanding markets across the globe.

Last month’s top property came from Bulgaria, and this month there’s been no change, with ‘Super Borovets’ Apartments attracting huge interest from TheMoveChannel’s visitors.

This month’s major surprise was, however, the popularity of apartments in Albania. Apartments in Tirana, Albania. With the majority of investor interest focused on the Eastern European markets like Bulgaria, Romania and Slovakia, Albania is shaping up to the dark horse of 2008.

To view the full chart, please visit: http://www.themovechannel.com/articles/viewpoints/108-14-2.asp

Investors seek 'far flung profits'

Jaimie Kanwar — 14/02/2008 00:00:00

Investors should look outside Europe to make profits in 2008, claims David Stanley Redfern Ltd…

Overseas property investment specialists David Stanley Redfern Ltd have compiled an overall review from the flurry of assessments, expectations and promises held for 2008, which reveals that the Americas and emerging European and Asian markets are amongst the most opportune focal points.

The 5 most talked about investment hot-spots on the marketplace today are Albania, Panama, Canada, Thailand and India. So, just why are assertive investors focusing their sights on these locations? David Stanley Redfern relayed some key points for consideration regarding each location.

Albania: “When you combine the benefits of no capital gains tax, transfer tax or VAT with escalating tourism and rental yields that are sure to become more far more attractive when Albania joins NATO this year, and soon the EU too, it’s clear why Albania’s causing quite a commotion amongst investors”.

Panama: “Panama holds similar appeal to that of Albania. Its strong and stable economy is noteworthy, but perhaps more eye-catching is the escalating property pricing that’s come along with the expansion of the Panama Canal. Now is certainly the right time to buy into the Panama property market in order to reap its full rewards, before they diminish and become somewhat defunct as investment increases”.

Canada: “Like property in Canada, the typical Canadian lifestyle is not only attractive but affordable too. Last year, Canada saw foreign investment rocket and in light of the continuing interest in the region, it’s set to go from strength to strength. Our current portfolio offers some prime, fast selling Canadian property in Rouge River”.

Thailand:” The thing I like about Thailand is the sheer class and ever escalating value of the property on offer there. There’s little taxation on property purchases too and it’s pleasing to hear from our clients who buy into Thailand and thank us for all we’ve done. But its there for the taking for anybody, so we’re thankful for those people who commit and go on to reap their own rewards”.

India: “India saw high property value appreciation a couple of years ago, something like 30% I believe, and it still proves itself in today’s market where its rising retail and IT profile are helping to attract investors from all around the world”

Bright future ahead for ‘Amazing Albania’

Jaimie Kanwar — 14/02/2008 00:00:00

Albania is well on the way to property investment prosperity…

A few years ago Albania was a destination very few people (if any) would consider a holiday destination, but huge advances in democracy and development in the last few years have made Albania a very attractive destination.

Albania has put itself firmly on the map recently, both as an increasingly popular tourism destination, and an emerging market on the international property investment scene, with many positive things on the horizon, including:

Entry into the North Atlantic Treaty Organization later this year
Entry into the European Union in 2014
Rising tourism, growing by 10% per year

Albania also offers minimala restrictions on foreign ownership of property, the only restrictions being that foreigners can only make a commercial investment if its value exceeds three times the cost of the land, and foreigners cannot buy agricultural land – they can however lease it for 99 years.

Also worth a mention is that Albania is already attracting some of the major European banks, which will make financing an investment easier.

Amazing tax advantages

Albania also has many tax advantages like the lack of capital gains tax, no withholding tax, no inheritance tax, no Value Added Tax on property purchases, no state or wealth taxes and no transfer tax. The total round-trip transaction cost is also very low, with less than 1% going on public notary fees.

Albania's potential for growth is definitely among its biggest attractions: Gross Domestic Product growth is an almost incredible 6% and likely to accelerate, and capital appreciation can reach up to 30% depending on the investment.

A spokesman for David Stanley Redfern Ltd explained why Albania is on the rise: "Just as the other Eastern European States hit us hard and fast with their capital growth, we believe Albania will do the same.

“It is becoming a pattern, these under-developed states, that were once surrounded by similarly under-developed neighbouring states, see their neighbours jumping onto the international tourism and property markets with a bang, and start to take steps rapidly to ensure that they are not left behind.

“They have a lot of room to work with; property prices and living costs are generally low, which become immediate selling points to tourists and to overseas property investors. Their generally good climate, which is always big business in the tourism industry, means their low prices make them a low cost alternative to some of Europe's hottest tourist destinations."