Introduction
Situated on Albania’s Adriatic coast, the Cape Rodoni Resort & Spa development has what we think is an unbeatable pre-offplan entry point of just €588 per m2. This is a rare opportunity to buy quality frontline European investment property at such a low price.
The site looks over sandy Lalezit Bay, just 20km from the country’s only international airport and 35km from the capital Tirana. A new motorway link is currently being constructed that will slash the journey time between our site and the capital Tirana from 1 ½ hours to just 30 minutes. The quick journey time to the capital and the country’s only international airport will increase rental demand for our new high-end development from local commuters, tourists and business travellers alike.
The developer has agreed to release 40 strictly limited units at the price of €588 per m2. There is a mix of 40m2, 60m2 and 80m2 units available. And in a deal unheard of in Albania we’ve negotiated all R2i investors a 3-year 8% rental guarantee.
Albania is a country looking to the future and the time is right to look for investment property early on in this emerging nation’s development cycle.
The Cape Rodoni site is located 20km from the capital Tirana’s newly upgraded international airport and 35km from its city centre. The road to the site from Durrës is currently under construction and is due to be completed in late 2008. This will open up access the area. At present the site is accessible via an uncovered road.
This road will also bring Tirana, the capital city, within quick and easy reach. A lively and charming city of one million inhabitants, its distinctive identity is illustrated by its unusual painted buildings. This results in an eccentric blend of fine Italian architecture and wacky tower blocks painted in stripes, arrows and multi-coloured patchworks. The city boasts many restaurants and bars and a stroll around its central districts will show its inhabitants enjoying a drink and a meal in the warm evening air.
The closest main town to the site is Durrës, a popular tourist resort as well as the major port for Albania. Durrës is an ancient city and its biggest attraction is the Roman amphitheatre, which is the largest in the Balkans. It is a lively and bustling tourist favourite with Albanians and has many hotels, bars and restaurants. As a result it can be extremely busy during the summer season and at weekends. Much of the accommodation in the town is what we would class as 2*/3*. However, there are plans to convert the villa belonging to the country’s former king, King Zog, into a luxury hotel and residential development, an indication of the area’s ambitions to attract upmarket visitors.(1)
There are frequent ferries between Durrës and Italy, including a fast hydrofoil service to Bari, directly across the water. There are also ferry services to Ancona and Trieste. The busy port is the recipient of €80million of EU funding to upgrade and regenerate the area.
This seaside land has been approved as part of the Prime Minister’s country-wide master plan for tourism development. Also included are provisional plans to build a small marina in the area, which will enhance the bay’s attractiveness to tourists and increase demand for accommodation...