Property ID: 4287092

Price: 4287092 47922.00 EUR

Key Features

Residential Property

Albania - Durres region - Rrotull

Apartment

Full Description

Lalzit Bay Resort & Spa
Lalzit Bay Resort and Spa is a luxury development of an internationally branded resort hotel, high-specification villas and apartments. The resort offers an amazing sanctuary at the most attainable price on the Adriatic coast. It has a simple elegant beauty with clean geometric lines complemented by glazed elevations, balconies and terraces, which work effortlessly to create the perfect balance between indoor and outdoor living.
With an impressive 300m of private beach frontage and occupying an area of 200,000m², the resort will be built to a low density 20% and buildings will be low lying with a maximum height of 4 levels towards the rear of the development. The resort is just 20 minutes to the international airport and 30 minutes to the country's economic heart, Tirana. This is the most ambitious resort that has been launched in Albania and the quality of the finished units will be to exacting  standards of luxury.

The resort will be built in phases.  Phase one will be ready by the end of 2012 and consist of swimming pools and tennis courts, restaurants, bars and shops.

• The Rental demand anticipated to be very high,
• existing regional tourist industry - 3 million overseas visitors to Albania in 2011
• Using one of Europe's largest construction companies(Strabag Trema - recently built Albania's airport)

The location offers huge potential
Lalzit Bay offers buyers many benefits - for both investment and lifestyle purposes:

The beach is just 20 minutes by road from the international airport and 30 minutes to the capital Tirana

Lalzit Bay Resort will be the closest beach resort to the 1 million residents in Tirana

The bay is government master-planned restricting over-construction and encroachment towards the sea

EU Accession (2014) will bring greater foreign investment into Tirana and thus drive wealth levels upwards

Infrastructure improvements across Albania and the Balkans mean that Lalzit Bay is accessible to millions of tourists from across the Balkans looking for a place to holiday.

The Adriatic is one of the world's best-known locations for sailing, and Lalzit Bay has a marina included as part of the master plan.

Lazit Bay is in the early stages of development. This gives you the opportunity to pick first!  It will give you a beautifull holiday place with a view on good returns.

Rental opportunities
As an overseas buyer, you are likely to want a simple way to manage the rental of your property and generate a steady income. Tourism in Albania is growing quickly and it is expected that the demand for rentals in Lalzit Bay will be high
based on the exclusivity of the resort and the quality of the finished units. There is little competition that can compete with a resort of this quality in the region. The developer and resort operator will combine to offer an on-site sales and lettings office to ensure owners can rent out their property easily, and with
minimum fuss. The fee for this service will be in line with the market. The resort will be managed by a major international hotel operator to ensure the resort becomes one of the Adriatic's most popular and desirable holiday destinations. The developer has received a letter of intent from a major international hotel group and it is expected that an operator will be named during the early stages of construction once the tender process has been  completed.

Rental yields
The estimates below are based on a very conservative 75% occupancy between the 16 weeks of the main summer months of May, June, Julyand August only. During the months of July and August, the demand for accommodation is very high and it is  likely you will be able to charge more than the example prices below.

Unit type: Studio    Purchase price €29,010

Weekly rent €300    Annual gross rental income €3,600

Gross annual yield 12.5%

 

Unit type: 1 bed apartment    Purchase price €49,922

Weekly rent €400    Annual gross rental income €4,800

Gross annual yield 10.0%

 

Unit type: 2 bed apartment    Purchase price €67,886

Weekly rent €500    Annual gross rental income €6,000

Gross annual yield 8.8%