A new era for Turkish investment property as Akbuk Resort Group signs deal with Ramada
Turkey’s economy has been strengthening for years. By 2011 the country was ranked 18th in the world in terms of GDP(World Bank) while its economy was the fastest growing in Europe at 8.5 percent. With inflation falling and healthy growth predictions for the coming years, Turkish Prime Minister Recep Tayyip Erdogan is confident in his country’s ‘2023 Vision’ of becoming one of the top ten economies in the world.
Overseas investment makes up a significant part of the economy: in the past nine years, Turkey has absorbed $110 billion of overseas investment according to CNBC, while A.T. Kearney’s Foreign Direct Investment Confidence Index ranked it as the 13th most attractive destination for foreign investment in 2012.
With the number of tourists arriving in Turkey increasing year on year (reaching 31.78 million visitors in 2012), and overseas investment in the Turkish property market predicted to rise from $2.5 billion to $10 billion over the next few years, it is easy to see why award winning developer Akbuk Resort Group has identified Turkey as the ideal place for its stunning new Harmony Bay Resort & Spa.
Scheduled to open in 2014, the resort is attracting a healthy blend of business partnerships and individual investments. Agreements have just been finalised with Wyndham Hotel Group and Sophos Hotels, who manage a large proportion of the Wyndham Ramada resorts, meaning the resort will come under the Ramada brand as ‘Ramada Resort Akbuk.’
The resort, which boasts magnificent panoramic views across the beautiful Akbuk Bay and the Aegean Sea beyond, will feature a delightful hotel and a range of luxury suites. Its exclusive spa, fine dining restaurants and extensive leisure and fitness options will add to the attractions of the area’s stunning coastline and wealth of historical sites.
Lee Harley, Operations Director of Akbuk Resort Group, explains the development’s investment opportunities,
“Harmony Bay Resort & Spa has something to offer every investor. We are excited to be part of Turkey’s bright future and are offering a flexible range of investment options, in line with the country’s forward-thinking economic outlook. From full purchase to fractional ownership SIPP (Self Invested Personal Pension) investments, we are enabling our investors to generate lucrative returns by becoming part of one of the world’s fastest growing and strongest economies.”
Investment options begin at just £11,688 for fractional ownership, with full ownership prices ranging from £61,600 to £107,800. In line with its reputation for innovation, Akbuk Resort Group is proud that the development is Turkey’s first fully SIPP-compliant resort. Depending on the chosen investment option, returns can include 4% interest paid until completion, Rental Assurance of 8% for the first two years following completion and a clear exit strategy with buy-back options in year five.
With flexible, investor-friendly options such as these being offered, it is no wonder that overseas investors continue to be attracted to Turkey and to being part of the country’s bright and dynamic future.
In the face of a generally gloomy world economy, it seems there is nothing but good news for Turkey. Finance Minister Mehmet Simsek has reported that the economy grew around 3 percent in 2012 and is expected to grow by 4 percent in 2013 with The World Bank adding that it anticipated a further 4.5 percent growth during 2014.
For further information contact Akbuk Resort Group on +44 (0)845 230 5210