I'm experiencing the same problem in Elmshore. First time arriving there, and the frame rate immediately tanks to a pretty unplayable level. I've tried disabling msaa, reducing the graphical quality, leaving and re-entering the zone, and restarting the game, but no luck so far.
Similarly, I've also noticed that any time a lightning based spell/trap is cast or set off, the frame rate dips significantly until the effect dissipates.
If it's at all relevant, I'm running these with the latest drivers:
Windows 8.1
i5-4670 3.4 ghz
GTX 780
8 GB RAM