harmony bay apartments and villas for sale akbuk turkey
harmony bay apartments and villas for sale akbuk Turkey:
A stunning new luxury five star hotel development in Akbuk with amazing views, unrivalled facilities and unbelievable prices”
• Developer awarded “best development in Turkey” 2008 in CNBC International Property Awards
• Purchase prices range from £49,000 up to £160,000 (£1 = 2.32 Turkish Lira)
• Magnificent panoramic sea and mountain views
• Open all year round
• Villas, apartments, 5-star hotel suites and commercial investments available
• Unrivalled facilities include Hamam Spa, massage and treatments, a range of restaurants and bars, outdoor lagoon pools with water cascades, indoor pool, gymnasium, children’s adventure zone and extensive sports and leisure facilities
• Rental pool options for owners - delivering exceptional rental returns
• Holiday there yourself
• Mortgage up to 70% available on completion (subject to status)
• All properties are freehold tenure with a government-bonded 10-year building guarantee
• All properties have assignable contracts, allowing resale at any time
• Hotel suites and commercial premises are SIPP-compliant – you can buy with your pension fund and save up to 40% as a result
The Harmony Bay Experience
This exclusive 5-star resort, from an award-winning developer, has something exciting to offer every investor... and holidaymaker.
Backing onto a protected pine forest with magnificent panoramic views across the beautiful Akbuk Bay and the Aegean Sea beyond, the unrivalled 5-star Harmony Bay Resort and Spa is a relaxed 10-minute stroll from the local Akbuk beaches, shops and restaurants. It has been thoughtfully designed to combine a luxurious lifestyle with a shrewd investment opportunity.
Set in 10 acres of landscaped gardens, this exclusive 5-Star resort has been carefully planned to provide a private and relaxing environment for residents as well as 5-star leisure and recreation facilities which are convenient though never intrusive.
As well as the residential apartments and villas, there will also be a 5-star boutique hotel and a range of shops and restaurants – convenient for holidaymakers and ideal for investors wishing to purchase through a SIPP (Self-Invested Personal Pension).
The Jade Apartments
The Jade Apartments will be situated on an elevated plot on six levels consisting 144 properties of diverse styles overlooking two cascading swimming pools. Surrounded by protected pine forests the properties will benefit from air-conditioning and will afford large sun terraces or private gardens enjoying either sea or mountain aspects. Each property will be of a high quality design and will be finished to an equally high 5-star standard to provide a sleek yet comfortable hideaway.
There are 48 Studio Apartments of 38sqm priced from £39,871, 48 One Bedroom Garden Apartments of 76.5sqm priced from £50,000, 36 Two Bedroom Penthouse Apartments 72.5sqm priced from £59,914 and 12 Two Bedroom Penthouse Suites of 85.5sqm priced from £69,828.
The Sapphire Suites – Hotel
The Sapphire Suites is a boutique hotel built to the very highest specification. There will be two blocks containing 136 quality individual and co-joined suites which will be sold as 96 freehold properties. All co-joined suites can be rented as two independent rooms, therefore significantly enhancing rental returns.
All suites will automatically be entered into the resorts rental pool for total owner convenience and peace of mind. Owner’s can then expect a 70% share of the net operating revenue (See Rental Projections Section). Compulsory quality furniture packages will be required in order to create a beautifully appointed property; these packages will be available towards completion with anticipated prices ranging from £2,500 to £5,000 depending on suite size and type.
Quality hotel suites are a proven and highly popular way to invest for income and capital growth. They also have the added advantage of being available for investment through a SIPP (Self Invested Personal Pension). As well as the tax advantages of buying this way, there are also considerable benefits when you sell, since you can take out up to 25% of your SIPP value as a tax-free lump sum. Even without the pension benefits, hotel suites are a great way to invest since they tend to generate exceptional rental returns.
There are 56 Junior Suites of 36.5sqm with prices ranging from £39,871 to £45,905, 16 Double Suite and Triple Suite (A) Units at 72.0sqm priced from £59,914 to £63,901, 9 Double Suite and Triple Suite (B) Units at 77.5sqm priced from £59,914 to £67,888, Executive Suite and Double Suite (A) Units at 80.5sqm priced from £73,922, Executive Suite and Double Suite (B) Units at 77.5sqm priced from £67,888 to £69,828 and Family Suite and Double Suites at 82.0sqm priced from £73,922.
Private, luxury detached Villas each having an individual 60m² pool, large enclosed 600m² landscaped garden and shaded car port. These exclusive properties are located at the edge of the resort, providing maximum peace and privacy and benefiting from magnificent sea & mountain views.
There are just 3 Individual Luxury Villas of 168sqm priced at £160,000 each.
The existing developments of this builder have extremely high occupancy rates as they have relationships with key tour operators bringing holiday makers in from all over the world. The following figures represent occupancy for a 6 month season each year and are based on the net operating costs and community costs set out for the first year. Please note that these figures are only a guide and occupancy rates, costs and taxes may fluctuate.
A Junior Suite with mountain view, priced at £39,871 will have an average room rate of £80 for the first year and will rise to around £88 in year three. Occupancy is expected to rise from 70% in the first year to 80% in the third year giving a net owner income of approximately £4,035 by the third year (10.12%).
A Junior Suite with sea view, priced at £44,828 will have an average room rate of £84 for the first year and will rise to around £102 in year three. Occupancy is expected to rise from 70% in the first year to 80% in the third year giving a net owner income of approximately £4,741 by the third year (10.58%).
A Double Suite and Triple Suite (A) with sea view, priced at £63,901 will have an average room rate of £190 for the first year and will rise to around £210 in year three. Occupancy is expected to rise from 70% in the first year to 80% in the third year giving a net owner income of approximately £8,726 by the third year (13.65%).
A Double Suite and Triple Suite (B) with sea view, priced at £59,914 will have an average room rate of £180 for the first year and will rise to around £200 in year three. Occupancy is expected to rise from 70% in the first year to 80% in the third year giving a net owner income of approximately £8,272 by the third year (13.81%).
An Executive Suite and Double Suite (A) with sea view, priced at £73,922 will have an average room rate of £184 for the first year and will rise to around £200 in year three. Occupancy is expected to rise from 70% in the first year to 80% in the third year giving a net owner income of approximately £9,280 by the third year (12.55%).
An Executive Suite and Double Suite (B) with sea view, priced at £69,828 will have an average room rate of £178 for the first year and will rise to around £190 in year three. Occupancy is expected to rise from 70% in the first year to 80% in the third year giving a net owner income of approximately £8,776 by the third year (12.57%).
A Family Suite and Double Suite with mountain view, priced at £73,922 will have an average room rate of £192 for the first year and will rise to around £204 in year three. Occupancy is expected to rise from 70% in the first year to 80% in the third year giving a net owner income of approximately £8,453 by the third year (11.44%).
These properties are being sold at hugely reduced off-plan prices and prices will be increased as sales are made, and construction starts. Prices are expected to increase by 20 to 25% before completion so now is the time to get involved and buy at the lowest possible price.
PLEASE VIEW OUR UP TO DATE CONSTRUCTION PHOTOS TO SEE THIS DEVELOPMENT IN MORE DETAIL AND VIEW PHOTOGRAPHS OF THEIR OTHER RECENTLY COMPLETED PROJECTS - CLICK ON "CONSTRUCTION PHOTOS" ABOVE
Harmony Bay Resort is situated in Akbuk, Didim, Turkey.
These properties are sold off plan and construction is phased. Final completion will be 30th April 2012, ready for the 2012 summer season.
Facilities And Maintenance
• Indoor Fitness Centre
• Indoor swimming pool of 120 m²
• Pétanque (Boules)
• Bicycle hire
• Outdoor swimming pools
• Two children’s pools including the fantastic 800 m² Aqua Surf Pool with slides and Spa Tub
• Serenity Spa: The Serenity Spa offers a range of treatments designed to soothe the soul, including massage sessions, facials and signature treatments in a deeply relaxing traditional Turkish Hamam. Complete the experience with time out in the tranquil Courtyard Spa Garden & Pool, or indulge yourself with hair, nail, tanning, waxing and make-up treatments in the Beauty & Hairdressing Salon.
• The Rooftop Restaurant: Boasting a magnificent, sweeping view of the bay and pine clad hills, and serving an imaginative menu of seasonal cuisine, the Rooftop Restaurant is open for breakfast, lunch and evening meals.
• Serenity Restaurant: Private à la carte dining in the secluded and romantic courtyard spa garden for up to 24 guests.
• Aqua Surf Pool Bar: Providing light fare, drinks and entertainment throughout the day.
• Coffee Central: Extensive selection of fine coffees with delicious sweet and savory desserts.
• The Ottoman Wine Cellar: Ottoman lounge with traditional Turkish atmosphere; perfect for sampling fine wines from around the world.
• The Pit Stop Juice Bar & Takeaway: Offering healthy snacks and refreshments on the move.
• The Underground: A space designed with teenagers in mind, incorporating a Chill-Out Refreshment Bar with Wide Screen TV and Disco, Internet & Computer Games Studio
• Games Room: Offering Table Football, Air Hockey, Table Tennis, Board Games, Snooker/Pool and Darts
• Children’s Pool with Lazy River
• Kiddies Soft Play Area
• The resort will also include an Outdoor Adventure Play Park for the little ones.
To reserve a property a fee of £2,000 is required. This fee allows the property to be taken off the market for a period of 1 month to allow the buyer to come and visit the property.
If after 1 month the buyer has not visited the property or cannot confirm any flight booking the buyer will be asked to pay the deposit and to sign contracts remotely. If the buyer wishes to visit the property, we can assist you with making arrangements and will try to accommodate you where possible.
After viewing, if the buyer wishes to withdraw from the sale and does not wish to proceed with any of our properties, the £2,000 will be refunded (less any costs incurred on the viewing trip). If the buyer wishes to transfer their deposit to any of our other properties, they can do so without penalty.
If the buyer wishes to proceed with the purchase after viewing, they will be asked to pay the first installment within 28 days of returning home. Contracts can either be signed at home or whilst in Turkey.
The remaining due amount may be mortgaged. You are likely to be able to mortgage between 60% and 70% of the value.
All the way through the process, we will be on hand to make sure that the payment process runs efficiently for you and that we get the best deal available for you through our network of mortgage specialists in Turkey.
There are other payment plan options as follows:
£ 2,000 reservation fee
40 % payment on contract – less reservation fee
60 % payment on completion
£ 2.000 reservation fee
90 % payment on contract – less reservation fee
The remaining balance of 10 % is written off
£ 2.000 reservation fee
40 % payment on contract – less reservation fee
20 % payment commencement of groundwork
20 % payment completion of skeleton stage
15 % payment on completion
The remaining balance of 5 % is written off
£ 2.000 reservation fee
40 % payment on contract – less reservation fee
35 % payment completion of skeleton stage
25 % payment on completion
Financing this Development
Mortgages in Turkey are relatively easy. The banks will normally give 60-70% LTV upon completion of the property. Property Prophets can assist you by introducing you to a number of mortgage brokers who can help you to find a deal to suit you after completion of the property.
Purchase using a SIPP (Self-Invested Personal Pension) - You can actually purchase your property using a pension
The hotel Sapphire Suites are a SIPP qualifying investment. A SIPP is a form of pension plan where you choose where your money is invested, rather than the more conventional type where a fund manager invests it for you. The process is much easier than you may think.
You can transfer some or all of the money from your existing poor-performing pension schemes into a SIPP. It's very simple.
This is an ideal way to take control and maximise your returns from qualifying investments. Whether you have one or more pension funds going back years from a previous employer, which can be transferred into a SIPP, or whether you set up a new SIPP, you can re-invest each year's rental returns which make the potential growth from compounding quite extraordinary. And when you come to retire, aged 55 or more, you can take out 25% of your fund as a tax-free lump sum.
As with all pensions, you get income tax relief at your highest rate for all contributions, so that a higher-rate taxpayer could invest £100,000 and get tax relief of £40,000 meaning that the investment of £100,000 has only cost them £60,000. But all earnings within the fund would be based on the full £100,000 invested, that's your £60,000 plus the government's £40,000.
Under current pension rules, purchasing a hotel suite using a SIPP means you forfeit any personal usage options.
Buying your overseas property should be an enjoyable experience. However, we do not under-estimate the importance of an experienced lawyer in the process. For this reason, we will present you with several options when buying property in Turkey with Property Prophets. We have pre-selected a number of lawyers who can represent you in the process. These lawyers are independent of the developer or owner and have been operating in the market for a number of years and bring a wealth of experience.
This ensures that you are fully protected in your property purchase. Once we have introduced you to the lawyer, they will deal with you direct and they can answer any of your questions honestly and independently.
If you would like to discuss a purchase of a particular property with a lawyer prior to making any commitment, please let us know and we will put you in contact with one of our approved lawyers. Of course, it is quite acceptable for you to choose your own lawyer also.
Property Prophets, through our sister company, Alternative Turkish Property, provide full after sales service which includes Property Management services. We have strong links with many Property Management companies in Turkey and can provide all of our buyers with several options.
The developer of this resort already has strategic relationships with key tour operators, enabling them to fill their existing developments with holiday makers for the full summer season. Full property management and rental management is available from the developer direct from the site office (see above rental projections).
About the Immediate Vicinity
The resort of Akbuk has become increasingly popular with European buyers as an ideal location for holidays, investment or retirement living. It is close to Bodrum airport (a 40-minute drive which will reduce to 25 minutes with the completion of the new airport road), has good tourist facilities, safe swimming from beautiful beaches and has historical sites nearby including the Apollo Temple, Miletus and Priene.
Akbuk is an up-and-coming area, considered the most scenic of all the towns in the Didim region, but has residential building restrictions already in place to preserve the natural beauty of the area.
To underline the appeal of the investment, Akbuk is already an extremely popular holiday destination for European and Turkish holidaymakers alike. In particular, thousands of Turks from the inland towns and cities descend there in the summer months.
EasyJet now provide four flights a week to Bodrum from London Gatwick and three a week from London Stansted. Bodrum airport is less than 45 minutes’ drive from Akbuk, and is also served by the budget airlines, FlyThomasCook, Thomson UK, Monarch and Turkish operator Pegasus.
As well as the great opportunities in Turkey in general, there are a number of reasons to feel excited about the future of Akbuk itself.
New features in the Akbuk area include:
• Magnificent new marina with more than 450 berths plus 600 dry dock positions, as well as a yacht club and heliport for helicopters to land direct on the site
• Two new golf courses
• Significant upgrades to all roads in the area
• A new airport road reducing the time from Akbuk to Bodrum to 25 minutes
• A 5-star holiday village in Bozbuk (10 minutes drive from Akbuk) with Turkey’s first 7-star hotel
Equally important, though somewhat less glamorous, is the planned opening of a Tesco-Kipa hypermarket on the outskirts of Akbuk, right on the Akbuk to Didim road.
Why Invest in Turkey?
Whilst there are still a number of issues to be resolved before Turkey can become a full EU member, it is generally believed that by 2015, or at least soon after, accession should be possible.
• Strong, fast-growing national economy with very low cost of living
• Property price growth is very high and, even more importantly, explainable therefore likely to be sustainable
• Tourism is increasing yearly, with 23.8 million visitors in 2007, 27 million visitors in 2009, against a government target of 25 million. Culture and Tourism Minister predicts 30 million tourists in 2010. A large part of this is the result of the government’s £73 million marketing programme titled ‘Four Seasons, 12 months’.
• Rated among the top 5 destinations for property investment by the television programme “Where on Earth?”
• Negotiating for accession to the European Union
• Mortgages now available to Turkish and foreign investors
• Tourist season now extended to 12 months a year with the advent of golf course developments and low cost airlines
• Although Turkish is the official language, English and German are widely spoken
• Massive housing shortage which restricts supply against a constantly increasing demand
• Now hosts a Formula 1 Grand Prix every year
• One of the First Wine Growing regions in the world
Bedroom0Living Room1KitchenOpen Plan KitchenBathroom1En-Suite BathroomНетBalcony1White GoodsBuilt-in Oven, Built-in Hub, Extractor FanFurnitureNoneAircondationNoneWater BoilerYesSwimming PoolCommunal PoolSecurityCare Taker, General Security in Complex, Site Security EntranceViewCity View, Pool ViewParkingCommunal ParkingExtrasJacuzzi, Fitness Center, Indoor Swimming Pool, Tennis Court, Double Glass PvcArea FeaturesLocal Transportation, Supermarket, Shops, Water Sports, Restaurant&BarsCertificate of HabitationCan Be Taken