Guaranteed Returns in Turkey
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)
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
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
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