Guaranteed Returns in Turkey

Summer Breeze Phase 2

These properties are located on the Summer Breeze development situated a mere 450mtrs from the sweeping promenades which run parallel with the tranquil coastline of Akbuk.

A traditional fishing village and harbour with bundles of charm and various local amenities including; Supermarkets, Butchers, Bakers and Dentist etc all within walking distance.

Example Property (2 Bedroom Apartment)

Finished to an extremely high standard with a lounge, well appointed separate kitchen, 2 generously sized bedrooms, family bathroom and a generous terrace.

On-site facilities include; Swimming Pools, Cafe & Bar Area, fitness centre and well maintained landscaped gardens.

The International Airports of Bodrum and Izmir are 60 minutes and 90 minutes transfer time respectfully.

Purchase price £53,000 (complete with 2 year guaranteed rental)

Mortgage option

Here’s an example:  Capital and interest repayment mortgage of 50 per cent LTV (£26,500), with an interest rate of 6.60 per cent and a 20-year term – monthly payments would be £199.14.

PROPERTY VALUE £53,00

Deposit                                                                                   £1,000

1st Payment       30% after 30 days                             £15,900

Final Payment   70% (minus deposit)                       £36,100

On day of signing contract

Lawyer’s Fee                                                                      £500

Military Search                                                                 £500

On day of obtaining title deeds of property

Purchase Tax     @ 3.3 %                                                £1,749

Title Deed Transfer – Translator Fee                        £50

Water Connection                                                           £320

Electric Connection                                                        £200

Stamp Duty                                                                        £60

TOTAL PURCHASE COST                                              £56,379

Yearly Fees – Approx

Maintenance Fee                                                            £400

Contents Insurance                                                       £100

Earthquake Insurance                                                  £60

Council Tax                                                                       £75

TOTAL ANNUAL COSTS                                               £635

Rental income

This property has a guaranteed annual rental income of 5% (£2,650) based upon the nett property value for two years with no maintenance fees during this period (Normally £400).

For the first two years during the summer season the owner has an allocation of 4 weeks for their own personal use.

 

The Real Deal

Budget to have a total of £56,379 available to you via your savings and the 50% LTV mortgage.

(£26,500 / £26,500 respectively) to take ownership of this property.

 

During the first two years the annual running costs (£235) + mortgage payments (£2,389) will be taken care of via the guaranteed rental income of £2,650

About the author: Thomas Yates

After finishing his Business Management degree Tom was looking to join a progressive company where he had the opportunity to have his own ideas listened to and implemented. It was a case of being in the right place at the right time as Rivermead Global were looking at taking somebody on and in 2009 Tom joined the company. If you are looking at buying a property in Egypt or Turkey you have come to the right people. Read our Ultimate Guide To Buying Property In Hurghada