Cape Rodini Resort & Spa

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Cape Rodini Off Plan Property Overview

Just €588 per m2 – 53% built-in return (based on current market prices)
8% rental guarantee for 3 years
Location – accessible from the capital city Tirana, overlooking a beautiful beach in the Adriatic Sea.
Huge growth potential

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.

Market Overview

Cape Rodoni Resort & Spa is located to the north of Durrës at the far end of Lalezit Bay.

There are no direct comparables as Albania is early in its development cycle, and there are few off-plan projects in the immediate vicinity. Therefore we have taken comparables from primary locations across the country to offer an overview of the general market. Bear in mind that these are local price points – Albanian property has yet to be heavily marketed to international buyers which historically pushes the market price up.

Tirana, the capital, contains a third of Albania’s population. Newly built apartments are much in demand and the table below gives an indication of local affordability and price range, with prices between €600 - €1,000 per m2.

Durrës has been popular with Albanians for years as a summer resort but lacks the exclusivity and draw of many modern-day resorts. While it is near to Lalezit Bay and will provide many amenities, its glut of poor-quality, aged and high-density apartment blocks cannot be compared to Cape Rodoni for price reference. There are, however, a few new builds happening, with prices in the region of €800 per m2.

Lezhë is situated 20 miles further north from Tirana than Cape Rodoni. Even though this makes it less accessible, a new development is selling there at an early stage at €780 per m2.

Vlora in the south of Albania is an established coastal resort which has always been popular with Italian holiday-makers and locals. There are rumours of a new airport which could help boost demand in the area and, as indicated, as with most countries there exists a premium for sea view property. Prices range from €600 to €1,000 per m2.

Sarande, opposite Corfu, is to Vlora what Lalezit Bay is to Durrës – a retreat away from the hustle and bustle of the main resort. Again there are premiums for frontline property with sea views and prices can reach €1,000 per m2.

Lalezit Bay is host to another new development, Villas Beverly, which is being marketed for over €1,100 per m2. Whilst these villas cannot be used as direct comparables, (they include land but are not frontline etc) they do offer a good indication to the potential of the area.

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