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Harmony Bay Resort & Spa, AKBUK RESORT, Turkey. SIPP property investment opportunities
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www.SIPPPropertyInvestment.com
Akbuk Resort Group: Award‐Winning
Developers
Best Development in Turkey 2008 for M d l G d
Best Developer in Turkey 2010
Akbuk Resort Group Member f A i ti f
Consumer Choice Mandalya Gardens
i t tl t dMandalya Gardens of Association of International Property
consistently voted top resort in Didim
RegionProfessionals
www.SIPPPropertyInvestment.com
Why Invest in Turkey?y est u ey?
www.SIPPPropertyInvestment.com
Strong, growing economy• Fastest GDP growth in Europe
GDP Figures 1Q 2010 – 11.4%, 2Q – 10.3%. EU countries most 1%
growth at best. OECD forecast 6.7% pa for 2011‐2017.
• Second fastest growth in G20China was number 1
• GDP now past USD 1 trillionpBack to where it was before “credit Crunch"
• 17th largest economy in world (larger than Australia)
• Falling inflation – 5.7% and still falling
• Modern economy – Services & Textiles, Face of Turkish industry has changed – only 9% of economy is farming. Service industry biggest proportion – 66% (banks tourism) followedService industry biggest proportion – 66% (banks, tourism) followed
by manufacturing 25% (much of it fashion textiles)
• Very low government debtPublic debt is 43% of GDP, Eurozone entry requirement is 60% with
many existing members being in excess of thatwww.SIPPPropertyInvestment.com
Up to 90% Mortgagesp g g•Harmony Bay has secured
mortgages of up to 90% LTVmortgages of up to 90% LTV
•Rental returns are expected to
be enough to cover mortgage
interest
•Lenders expect future price
growth to limit their exposuregrowth to limit their exposure
Low Cost of Livingwww.SIPPPropertyInvestment.com
•Council Tax about £20 a year
•Fresh foods VERY cheap ‐ £10 of•Fresh foods VERY cheap £10 of
fresh fruit would be too heavy to
tcarry to your car
•£200 a month for basic living costs
Tourist Numbers Rising• Government £73 million ad
‘ l
g
campaign ‘Four Seasons, Twelve
Months’
•Visitor numbers 23.8m in 2007,
27m in 2009, 31m in 2010) , )
• Increasing Westernisation•Half hour closer than Cyprus•Half hour closer than Cyprus•Increasing numbers of flights
from UK and Europefrom UK and Europe• Great climate
G lf b i b il i•Golf courses being built to raise
off‐season
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EU Accession 2015?•Economy already meets Euro
criteriacriteria •Better than existing Euro member
states• Question is – Will Turkey want to
join?j
Stable Political Regime•Erdogan administration since
2002• 8 years Budgetary restraint have led to current economic position of p
stength• Shift in Export Market Turkey is a fast
rising Economic Power and whilst 50% of export market is still to Europe it is tapping into the cash rich export markets
in Russia and the Middle Eastwww.SIPPPropertyInvestment.com
Price Growth High and gSustainable
•Firm economic foundations
• Lending volume increasing – one of major factors in price growthj p g
•Total mortgage indebtedness only g g yone tenth of EU average 5% in
Turkey vs 50% in EuropeTurkey vs. 50% in Europe
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Don’t just take our word for itDon t just take our word for it• PIIGS ‐ European nations with
Economists group countries based on economic similarities often by using a memorable acronym. The PIIGS came to prominence in light f th l b l i d t P t l It l I l d G nations with
dangerously large sovereign debt
of the global economic downtown. Portugal, Italy, Ireland, Greece and Spain were highlighted as European nations with dangerously large sovereign debt burdens and notably ones to avoid when investing. sovereign debt
burdens• BRICs emerging
gOn a positive note, focusing on countries with widely acknowledged emerging markets ‐ for the past few years the BRIC countries were the flavour of the Economic Press (Brazil, Russia, India and China.)The Economist magazine and a number of other key international • BRICs ‐ emerging
market countries
The Economist magazine , and a number of other key international analysts have recently turned favour to the CIVETS as the key markets to be in now from 2011. The CIVETS are Columbia Indonesia, Vietnam, Egypt, TURKEY and South Africa
•Introducing CIVETS –Economist 2010
•Turkey Closest to•Turkey – Closest to home, no sharks and
t ffl t (hi h tmost affluent (highest GDP per head)www.SIPPPropertyInvestment.com
Why Akbuk?Why Akbuk?• Up‐and‐coming town
• Established tourist destinationBrits have been visiting for 30 years, established ex‐pat
communitycommunity
• Impressive new marinaOpened in 2010, Cost $52million, 400 berth, 600 dry docks, p , $ , , y ,
can accommodate yachts up to 50m+ in length
• New airport road planned –Bodrum Airport
Current Journey is 45‐50 mins, new airport road will mean journey time of 25 minsj y
• Wide range of established restaurants and shopsrestaurants and shops
Approx 20 restaurants, shops, supermarkets, regular street market. Provides all daily needs
• Infrastructure InvestmentEU investing 6.6m Euro into Turkey over next 5 years
2 million Lira (approx £80million) into Didim Region alonewww.SIPPPropertyInvestment.com
Major changes to AkbukMajor changes to AkbukBig Investment Into Akbuk Currently
• Upgrading the 3 beaches ‐ In total• Upgrading the 3 beaches ‐ In total 112,000 sq meters of beach front upgrades.
• Upgrading the local marina, the roads, play parks, building new sport and play parks, building a new shopping mall near the beach and upgrading all the natural water pg gresources.
• Starting an advertising campaignStarting an advertising campaign on tourism for Akbuk.
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Ariel View of AkbukAriel View of Akbuk
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Lovely BeachesLovely Beaches
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Local fishing andLocal fishing and Excursion Boats
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Previous Developmentsin Akbuk
Mandalya Gardens, collection of 53 apartments with communal pool, shop, reception desk, games room and bar / restaurant, completed in 2008. www.SIPPPropertyInvestment.com
Mandalya Cottages and Apartments
Smaller residential developments completed in 2007 – 2008p pPrevious development provide feel for developers commitment to quality build and use of natural materials www.SIPPPropertyInvestment.com
Harmony Bay Resort & SpaHarmony Bay Resort & Spa
• Luxury 5* Resort • Boutique Hotel and range of q g
Luxury Suites
• Unrivalled Leisure &• Unrivalled Leisure & Recreation Facilities
A d R l R 6%• Assured Rental Returns – 6% for 2 years
• Prices from £49,000
• Mortgages up to 90% LTV (STS)Mortgages up to 90% LTV (STS)
• Properties available to h h hpurchase through a SIPP
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Harmony Bay Resort & Spa• Re‐sales Office on site
Harmony Bay Resort & Spa
• Rental Management Pool from year 3Pool from year 3
• 10 Year Government• 10‐Year Government‐Bonded Build Guarantee
• Free Furniture Pack
• Freehold Tenure
• Viewing Trips
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The Site PlanThe Site Plan
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Project GalleryProject Gallery
Emerald PlazaCommercial Hub
Fit
Serenity Spa
Fitness Centre
Swimming Pools
Indoor Games TennisRoom
Eating & Retail U iDrinking Units
Emerald Plaza is the heart of the development ‐ 35 units in total over 3 floors offering commercial area of 4000sqm
The Suites• 72 Junior Suites
• 36 Double & Triple Suites• 16 Double & Executive
Suites
• 4 Family & Double Suites• 4 Family & Double Suites
• 16 Duplex Suites
• 6% Assured Rent for 2 Yrs• Yr 3 returns predicted to be from 8% based on abe from 8%, based on a
55% Occupancy
P i f £49 000• Price range from £49,000 ‐£98,000
The VillasThe Villas
Just 3 Luxurious Detached villas each with its own i 60 ² l lprivate 60m² pool, large
enclosed 600m² landscaped d d h d d tgarden and shaded car port.
Sea and Mountain ViewsSea and Mountain Views
£211 000£211,000
Payment OptionsPayment OptionsPayment Option 4 Payment Option 1 Payment Option 2 Payment Option 3 Payment Option 4 (SIPP Purchase)
Reservation Fee £2,000 £2,000 £2,000 £2,000
Stage 1 Payment (On Contract)
20% Payment ‐Less reservation
fee
40% Payment ‐Less reservation
fee
90% Payment ‐Less reservation
fee33% Payment
Stage 2 Payment (Commencement of ground works)
20% Payment 20% Payment 34% Paymentof ground works)
Stage 3 Payment (Completion of 20% Paymentskeleton stage)
Stage 4 Payment 60% Payment 15% Payment 33% Payment(Completion) 60% Payment 15% Payment 33% Payment
The remaining The remaining balance of 5% is written off
balance of 10% is written off
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Purchase ProcessPurchase Process
Ch k il bili i h kb k G i1. Check availability with Akbuk Resort Group or via online system
2. Complete reservation form and pay £2,000
3. Contracts will be sent to clients to sign and return i hi 30 d 1 d i b id (lwithin 30 days. 1st stage deposit to be paid (less
reservation fee)
4. Subsequent stage payments will be made in accordance with timetable (all clients will be given 1 month’s notice)
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Akbuk Resort GroupAkbuk Resort Group
www SIPPPropertyInvestment comwww.SIPPPropertyInvestment.com