Although there are real fears of Europe slipping into another recession, a recent report released by the International Monetary Fund shows Albania is bucking the trend, with GDP growth for 2011 predicted to be around 2.5%, increasing to 3.5% in 2012.
The growth forecast for this year is lower than the 3% GDP growth seen in 2009 and 2010, but the Albanian government is even more positive about the outlook, and predicts GDP growth to be around 4.5% which is great news for anyone looking to invest in this Balkan nation.
The IMF report states that it expects the strong performance of leading emerging nations to be the main driving force between growth in the world economy, and highlights the fact that emerging countries such as Albania have coped well with the global crisis which is due in no small part to the country implementing strong policies before the economic downturn took hold. The IMF findings also found Albania to be one of the best performing Balkan nations this year as Bosnia and Herzegovina have GDP growth of 2.2%, while Montenegro is expected to have GDP growth of 2% this year and Croatia is lagging behind with just 0.8% predicted GDP growth.
Ravin Maharajah, partner of Lazlit Bay Resort & Spa, the five-star luxury residential development located on Albania’s Adriatic coastline commented on this report saying “Albania has much to offer investors. Indeed with the IMF suggesting that the Eurozone and the US could fall back into recession, expecting the United States to grow by just 1.8% in 2012 and the Eurozone by 1.1% next year, it would appear that Albania will lead the way in faster economic growth in the coming years.” Even nations such as France are expected to have GDP growth of just 1.7% this year, falling to 1.4% next year.
Lazlit Bay Resort & Spa represents an excellent investment opportunity in Albania, as it is possible to purchase a luxury apartment for as little as €38,000. The development was recently voted “Projects Of The Year” at the 2011 RealEx conference in Tirana, due to its high quality infrastructure and eco-friendly attributes.
Ravin Maharajah points out “Our customer base continues to grow as the benefits of buying a beach property in Lazlit Bay Resort outweighed the macro economic issues affecting the Eurozone. We’ve sold many units in the last few months and have released more to meet demand. Anyone interested in this development can contact Lazlit Bay on 0845 125 8600 or can visit their website.