The Turkey Boom Continues

The Turkey Boom continues. Despite the uncertainty in the property market here in the UK and many other countries, it appears to be getting ignored in Turkey especially in the ever increasing popular holiday resort of Side in Antalya.

Whilst most developers struggle looking to see where the next buyer is the opportunities continue for savvy buyers in Turkey, through the collaboration between the top UK based Property Sun Turkey and Akins Construction (www.akins.com.tr ) with the release of the new contemporary development in Side. This is to follow on from the success with the complete sell out of their three other developments in 2009.

The new development named Aqau Mare is building on the previous success’s of the company and with probably the best location left in Side with its unique sea views is certain to attract buyers a plenty, whilst the rest of the World Property Market continues to sleep, Antalya and its property market is wide awake and could even be considered as booming. Although the prices look ridiculously low the quality is anything but, the standard of build and finishing touches far exceeds developments not just in the area of Side but throughout the previous property hotspots of Europe.

Another big plus for buyers is the confidence of buying from a highly respected developer and UK based Turkish property specialists. The financial strength of the developer is an aspect that cannot be overlooked at these times with the developer able to offer a 5% initial payment and incredibly due to the financial strength of the company, a first for the region, an off-plan mortgage facility such is the confidence of the banks in this developer credibility and financial strength.

For a full appreciation of this luxurious intimate development with just 70 plus spacious apartment’s and duplex’s a visit arranged by Property Sun Turkey (www.propertysunturkey.com ) to really see why this is certain to be a success ONCE AGAIN with this UK and Turkish collaboration for what is considered the jewel in the crown for Side, Antalya and its ever increasing visitor numbers.

Editors Note:

Property Sun Turkey continuing with its strict policy of selecting only the most reputable of developers to work with is proud to announce their latest partnering with the award winning Antalya developer Akins Construction. Concentrating its developments to appeal to the more discerning of property investors, with its top specifications and attention to detail with surprisingly affordable pricing policy, it is little wonder that they are considered the premier developer for Side, Antalya.

David Richardson-Managing Director of Property Sun says it is a perfect combination of two like minded companies from the UK and Turkey who emphasise the need for delivering the highest customer care with a passion and dedication few can match. It is a simple philosophy which we follow all the time in every aspect of our business however the most important part of our business are the clients, many are entrusting their lifesaving’s to realise their dreams, this is something we never forget.

SUMMARY

Aqua Mare Luxury Apartments are a highly successful new concept of eco –friendly residences in Antalya, Just half an hour by car from the cosmopolitan town of Antalya, listed recently in the ‘What’s Hot 2009’ resorts by The Sunday Times, and its international airport, Aqua Mare is a low density development of 72 Apartments with private indoor &outdoor swimming pools, gardens, cafe-bar, sauna, fitness in the Modern Spacious Complex. Close to the regional capital Antalya with its upmarket shops, restaurants and hotels.Side, renowned for its Roman antiquities, while close by is Turkey’s premier golf resort Belek.

Who can buy?

Most foreign nationals can purchase property in Turkey providing that:

* There is a reciprocal agreement between the government of Turkey and that of the purchaser. This agreement does exist between Turkey and the U.K. and many other countries.

* The intended property lies within the boundaries of a municipal area, i.e. town or village with more than 2,000 registered inhabitants.

* The intended property does not lie within the confines of a military zone.

Taxation

Capital Gains Tax nil after 5 years on property ownership

I f sold before a sliding scale exemption is in place in year one 2,600 tl is deducted to offset any gains with higher allowances until year 5.

THIS IS ONCE THE PROERTY IS REGISTERD AND YOUR NAME IS ON THE TAPU (TITLE DEED) IF THE CONTRACT IS SOLD ON BEFORE REGISTRATION THEN CGT IS NOT LIABLE.

With rental income this if taxed paid in Turkey then this will not be liable in the UK as a double taxation agreement is in place between the countries.

For further Sales information please contact the Sales Director Mr David Richardson,

Email: david@propertysunturkey.com Tel:+44 20 8349 4960

Additional Information

Exclusive Payment options for Property Sun Turkey Clients

The Akins Construction has various options open to clients.

1: A 30% deposit and the balance by way of a mortgage through Garanti Bank at highly competitive rates.

2: 25% down payment and 75% not payable until completion (18 Months but envisaged end of 2011)

3: 50% deposit followed by 50% paid on completion. This option includes a free comprehensive Furniture Package or Golf Membership.

4. Full payment which will give a 10% discount and a free comprehensive Furniture Package or Golf Membership.

Buying costs in Turkey are approximately 7% of the purchase price which compared to other overseas property markets is low as an example the likes of Spain, Greece, Portugal and Cyprus can be between 13-18%

Main Property Purchasing Costs

1. Purchase tax: 3% on the ‘declared’ value of the property to be paid to the government. As house prices are set by the City Council for taxing purposes, their valuation is much lower than the actual purchase price This is a one off payment and it is due once the TAPU is received (step 6).

2. The solicitor's fee:(should you require one, but Property Sun Turkey strongly advises) Prices start from about £400.00 pounds and will vary depending on which solicitor you choose to use.

3. Agency commission: All Estate Agents in Turkey charge 3% commission to the buyer based on the Purchase price.

4. Notary charge: Approximately £100-150 notary charge for the power of attorney and the translation of your passport. This needs to be paid at step 4.

5. Map search: 2 maps are needed. The first is a map of where the property is located and is sent to the Izmir Aegean Army. This costs approx. £35. The second is a 1/5000 map used in the title deed process. This costs approx. £400 but price varies for different Municipality areas. (Step 5)

6. Title deed registration: £ 30 registration of title deed in your name. This is paid in step 6 and is paid only once.

The charges for purchasing can differ from region to region.

Additional fees

Utility Registrations Water and Electricity to be transferred into your name – approx. £150

Compulsory Government Building Insurance (DASK): his insurance has been compulsory since 2000 and costs approx. £35 a year depending on property size.

Home and Contents insurance: This is not mandatory and can be done once the property deeds have been registered in your name. Approximately £150 but costs vary depending on cover required and value of property.

Property tax an annual property tax is collected by the municipalities (i.e. local governments) at the rate of 0.3% for land and 0.1% for a house. This can be paid annually or in two payments, one in May and the next in November.

WHY INVEST NOW AND NOT ON COMPLETION?

It will be sold out long before completion. Due to the discounted Off Plan prices offered.

As the development progresses the prices are INDEXED to rise in line with the progress of the construction and by completion a realisation in the region of 40% will be available. By summer 2010 the first of the price increases will be implemented and will offer early Investors an immediate return.

The Completion of the project will also coincide with the World Golf Championship 2012 being held in Antalya giving high rental or high resale opportunities especially as Apartments are a favorite for visiting Golfers.

Investors making an investment today will be buying prior the price increase due in summer which is likely to be in the region of 15%.

FLIPPING-Because of the LOW initial prices it offers the opportunity for investors to sell the contract on with NO tax liabilities.

This is without question the best opportunity in Antalya and Turkey.

GARANTI BANK: One of the largest banks in Turkey runs on a very sound financial basis through its responsible approach to lending (very different to the UK USA etc). The real point on Garanti Bank involvement through offering 70% off-plan mortgages is the view Garanti Bank has taken and confidence it feels in this project by doing so, normally mortgages are NOT available for Off-Plan projects but Garanti Bank realises that with the financial strength and stability of Akins Construction. Are happy to provide added security for investors in this project that will be 100% guaranteed project that will complete and shows by offering this facility for the individual investors a very credible secure opportunity for them.

AKINS’S PARTNER

PROPERTY SUN TURKEY

Property Sun Turkey (www.propertysunturkey.com) leading specialist of Turkey properties unveils new launches featuring a combination of -Modern Marina villas in North Cyprus, award winning design and very exclusive property.

Headquartered in London, UK they are a dynamic team of British and Turkish property investment consultants, able and eager to guide you through the search and acquisition of your ideal property investment in Turkey.

David Richardson, Director David has gained his extensive property investment knowledge through his roles over the last 22 years as Investment Advisor to some of the highest profile companies and individuals working throughout the world including America, the Middle East and Europe and working in the overseas property market. His love of Turkey and the people is why all his efforts and expertise are put into the running of Property Sun Turkey with his desire for everyone to feel the same about turkey as he does.

He has an extensive knowledge of the Turkish Property market and knows most locations intimately having spent a considerable time travelling throughout Turkey. He feels that one of the biggest disappoints that people should not have to suffer is buying their dream of a place in the sun only to be let down by poor service or bad advice.

Selin Opuz, Director
Having been involved for many years in establishing and the running of many successful business’s in the hospitability, publishing and design industries she has always wanted to take advantage of her in depth knowledge and love of her home country Turkey. Selin is particularly knowledgeable in respect of the coastline areas along Antalya and Fethiye where a large number of properties are sold to overseas buyers.

She brings her valuable experience on the financial side of the business not just ensuring as a company we continue to prosper but also and more importantly ensuring all client financial transactions are carried out in an efficient and secure manor, giving peace of mind to our clients.

Property Sun Turkey’s Recent Exclusive Projects

Calista Luxury Resort Villas in Antalya- Belek http://www.calista.com.tr/

Tulip Turkuaz , Bio-Climatic Project in Istanbul www.tulipturkuaz.co.uk

AKINS CONSTRUCTION

WHO IS AKINS?

Established in 1976, Akins is a second generation, family-owned firm and made up of two separate divisions. The main distributor of Coca Cola and Philipp Morris products the company it is among the top-ranked branches in Turkey. The Second department is the Development and Construction side who operate under the registered brand name ‘Akins Construction & Consulting’.

The creation of new living spaces with areas projected by using the very latest construction techniques, and using only the best of quality materials and highly skilled fully qualified building professionals which together form well planned highly desirable developments, Akins Construction & Consulting has maintained its objective as always achieving its goals of projects that offer to its clients comfortable and modern living spaces fulfilling and exceeding all expectations for living.

We are registered to Manavgat Chamber of Commerce with nr.29.08.1994 / 001884 as “Akins Tourism Construction Inc.”. It will be with pleasure to provide you about Akins carefully selected business partners and strategic alliances upon your request.

References of Akins Previous Projects

Dana Residence

Lilium Garden

Palm Garden

Bespoke Villas in Antalya-Side