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GREEN PARK at Bodrum


Project Summary

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Why Turkey?

4

Turkey in Numbers

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Location

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Points of Interest

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Regnum Golf Club

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Sitemap

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Floor Plan

12

Chinese Investment

13

Project Photos

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Project Factsheet

16

Turkey FAQ

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Rental Management

18

Project Team

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Project Summary With the Turkish Lira having halved in value over the past 12 months, Benoit Properties are delighted to present our newest residential investment opportunity – Green Park, Bodrum. According to official data, Turkey’s tourism revenue rose to $26.3 billion in 2017 with a nearly 19 percent year-on-year increase, driven by a significant rebound in the number of foreign arrivals. Available at significantly discounted prices, our Green

Park Bodrum project offers brand new two bedroom apartments priced at only €54,900 close to the beach, shopping, golf and more. Being delivered by a reputable local development team, Islagrup, the community is under construction and being completed by end of Q1 2020. With such incredible currency advantages, we expect strong growth running alongside high rental yield over the mid to long term.


• New build 2 bed apartments • Huge currency advantages • High spec with communal pool • Under construction • €1000 to reserve • From only €54,900


Why Turkey?

Turkey’s economy is extremely resilient and has been growing year on year following the slump (in the 3rd quarter of) 2016 – a trend we very much expect to continue, especially with households spending on everything from food to healthcare to appliances. The labour market has also improved and the country is very much buoyed by foreign investment and exports. Just a few days ago, we saw more foreign investment in our banking sector with the sale of Denizbank in Turkey to the UAE’s Emirates NBD for $3.2 billion – a Dubai-based bank’s largest overseas acquisition. The unemployment rate is also down – from 12.6 percent in February 2017 to 10.6 percent in February 2018 – with youth unemployment falling too. We recently saw a rise in minimum wage, so salaries have picked up, with low income households particularly reaping the benefits. Exports to key economies, such as Germany, Britain and the US, are also rising. Our tourism industry has also been boosted. Following a one-off decline in 2016, total tourism income strongly recovered in 2017. And more importantly, this recovery trend is carrying on with an increased pace in 2018. Overall, there is much to be encouraged by and we look forward to seeing more economic growth and strengthened, reinvigorated trade relationships in the months and years to come.

Interview with Turkey’s Minister of Economy,

Nihat Zeybekci Jun 15, 2018


Turkey in Numbers

79.8m Population (2018)

#8

Most Popular Tourist Destination (2018)

+7.2% +19% Annual Change in GDP

Year on year

(2018)

Tourist Numbers

-16% +1.5% Unemployment Decrease

Annual Change in

year on year

Population Growth Rate (2018)


Location

Today, the Bodrum Peninsula attracts a global mix of interests and buyers. With a diverse combination of clients. There are Scandinavians and Kuwaitis, Americans and British. Younger families interested in full-time residential homes in the central areas close to all amenities, high-end investors and second or thirdhome buyers of unique taste. International architects such as Sweden’s Thomas Sandler and New York’s Richard Meier are leaving their mark on what is rapidly becoming one of Turkey most popular destinations. Our new project is ideally located close to the airport and the gateway of Bodrum’s glittering peninsula, with the new Regnum Golf Club and a nearby marina sure to drive prices up further, there is real internal migration from Istanbul’s elite seeking more space, familiar private hospitals, brands and schools found in Istanbul. Bodrum is now coined ‘the furthest suburb of Istanbul’ with eight year round direct flights per day and being reached within one hour. 37°10'11.0"N 27°36'02.5"E

https://goo.gl/maps/BFGvbYVNUZJ2


Points of Interest

Karia Port Shopping & Dining (500 meters)

Bodrum Airport (10km)

Vita Park Golf Resort (Opposite)

Guvercinlik - Bars & Restaurants (2km)

GĂźllĂźk Town - Bars & Restaurants (5km)

Egesu Marina (5km)


Regnum Golf Club


Turkey is without doubt the cheapest place to buy a property and to play a round of PGA standard golf across the Mediterranean. Our Green Park project is just along from the Regnum Golf Courses offering 18 holes for between 35eur per round. Not only that but our prices for new build comparable 2 bed apartments comes in significantly lower than anywhere else in similar proximity to the Mediterranean Sea.

Driving Range

Hole to Hole

Chipping & Putting Green

Location

Golf Course

Green Fees (per round)

Lowest price 2 bed apartment

Majorca

Alcanada Golf

€136

€179,000

Sicily, Italy

Vendura Resort

€130

€160,000

Cyprus

Aphrodite Hills

€55 - €78

€100,000

Villmoura, Portugal

Laguna Golf

€47 - €71

€280,000

Portimao, Portugal

Alamos Golf

€57 - 83

€130,000

Bodrum, Turkey

Regnum Golf

€45

€54,900


Aerial View


Sitemap

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Floor Plan ENTRANCE TERRACE

TERRACE

DOUBLE BEDROOM

SINGLE BEDROOM

HALL

BATHROOM

BATHROOM

BATHROOM

BATHROOM

HALL

SINGLE BEDROOM

KITCHEN

KITCHEN LIVING AREA

TERRACE

DOUBLE BEDROOM

LIVING AREA

TERRACE


September 15

th 2017

Chinese Investment

l u g o m n o i t uc r t s n o c h s i k nt a Tur i g r o f l a e d nt e m t s e v n i ’ s ‘sign drum o B n i y t i c tourism with tter of intent it signed a le China and Hong om fr s square investor a 12 million Kong to build city in the Aegean m meter touris m. ru resort of Bod , the t on Sept. 15 In a statemen the tourism city, company said Europe’s largest which will be pleted, will m when it is co urses, hotels, co include golf llas, university residences, vi es, a techno fic campuses, of th facilities. al he d an rk pa

with letter of intent “We signed a based financial a Hong Kong- Chinese a investor and vestor group, in construction ialized in city which is spec s several ha building and vestments, to in international city in Bodrum, m is ur to a ild bu tract people at ill w ch hi w

Belt China’s “One He noted that oject was expected One Road” pr trillion additional to create an $8investment across infrastructure

68 countries.

are get its own sh “Turkey will ect,” he added. from this proj

lk t to end the Si investors wan m. ru od Road in B to the be a window “Bodrum will . They told us the west for them rategic importance st project is of t to make an and they wan said, adding that he investment,” urism city would the planned to w attraction. be Turkey’s ne


Project Photos


Project Factsheet

Developer:

Size:

Islagrup

2+1 (85sqm – net) living room with built in kitchen, master bed with ensuite,guest room with bathroom and a large terrace.

Running Costs: Maintenance fee: 200 TL per month (circa €28)

Construction: Completion Date: Q1 2020

Brick build with A/C included

Rental Management:

Furniture Pack:

15% on a short term rental basis

€6000 Closing Costs:

Payment Plan: 2% of property price €1000 to reserve, 50% less reservation on exchange, 50% on completion

Buyers Lawyer:

Tenure:

Sinop Law Office http://www.sinoplaw.com/

Freehold Address: Community: Gated with pool and security

Meselik Mahallesi Mugla Bodrum yolu caddesi no:93 – Bodrum / Muğla


What are the closing costs when buying in Turkey? You would pay lawyer fee of €850 + 3% stamp duty.

Turkey FAQ Can I buy from overseas? Yes you can buy freehold by appointing a power of attorney. The buyer will need to send the lawyer a Power Of Attorney to transfer the deed, obtain a tax number and open a Euro and Turkish Lira bank account which we oversee as part of our service offering. Will I need to pay tax on my rental income? Turkey will tax income from real estate including income (profit) if you rent out your investment. This ranges from 15-30% depending on your criteria. We can recommend an accountant to ensure this is streamlined cost effectively based on your circumstances. Residency Buyers and their families can apply for residency working with Sinop Law Office should they invest above €250,000. What is my legal ownership status? 100% freehold ownership Annual Property Tax The authorities have a unique way of calculating property tax based on the land size, cost and neighbourhood although your lawyer will be able to confirm your approximate annual exposure based on the deed itself. As an example on a €500,000 property, taxes are around €450. Capital Gains Tax This is in line with income tax although it is important to know that if you hold the property for five years or more any profit on the purchase price is exempt from any tax.


Rental Management

Benoit Properties collaborate with a licensed Bodrum property management company, specializing in short and seasonal term condominiums. There is a proven model that weekly serviced rentals over the peak season of April until the end of October provide the best yields compared with year round rentals, this not only produces real and satisfactory yields but also leaves the investor with the chance to enjoy his/her own property, Bodrum has direct flights during the summer from most European cities, Beirut is just a 1 hour 10 minuet direct flight away, Kuwait and Saudi also operate flights direct in to Bodrum, our partner demonstrated to us a property shortfall during peak season. Luxury Property Turkey offer a complete range of rental solutions for you and your clients. Assuming a total of 16 weeks rental 4 weeks peak rate x €475 = €1,900 4 weeks low rate x €399 = €1,596 and 8 weeks standard rate x €475 = €3,800 which combined produces a gross annual income of €7,296 less 15% management fees leaves a NET annual income of €6,201 producing a 13% yield. *Buyers need to buy a furniture package which is circa €6000. **Figures above are projections only. Buyers should conduct their own research ahead of reservation.

From

To

Rate

10/10/2018

01/06/2019

€399.00 p.w.

01/06/2019

29/06/2019

€425.00 p.w.

29/06/2019

31/08/2019

€475.00 p.w.

31/08/2019

28/09/2019

€425.00 p.w.

28/09/2019

10/10/2019

€399.00 p.w.


Project Team

Established in 2005, Benoit Properties International are the trusted source and number one choice for property acquisition across a range of global markets. As sales and marketing partner at Green Park, Benoit bring together over 25 years of combined experience delivering exceptional customer service alongside accurate and up-to-date market knowledge. Luxury Property Turkey is an award winning Real Estate Agency who specialise in offering luxury properties for rental across the best locations in Turkey. With fluent English speaking staff, Luxury Property Turkey are on hand to offer rental management assistance for investors buying at Green Park Bodrum. Founded in 2004 by Murat Poyraz, Real Estate Broker, Contractor and Developer, Isla Grup İnşaat is a Bodrum Turkish based Company offering design, construction, and development services. The company’s directors have been assembled from some of the best real estate and construction industry talent out there, and between them they have many decades of experience. As a firm of specialist commercial law solicitors based in Bodrum, Turkey, have worked on European and international legal issues since 2000. Due to our consistent specialisation in international points of law, we guarantee the optimum environment and conditions for effective and successful resolution of international legal cases.


UK OďŹƒce T: +44 (0)161 250 5300 F: +44 (0)161 250 5301 E:info@benoitproperties.com Benoit Properties International Ltd 211 Jactin House 24 Hood Street Manchester M46WX www.benoitproperties.com

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Green Park at Bodrum Brochure  

Green Park at Bodrum Brochure