The recent approval of the luxury Manzara development with SIPP compatibility provides extensive benefits to investors. Located in Turkey’s most sought after coastal resort town of Kusadasi, the Manzara development has been gaining a wealth of attraction since its recent release into the general market.
Self Invested Personal Pensions (SIPPs) are regulated by the Financial Services Authority (FSA), enabling individuals to control how and where their pension funds are invested. Only real estate developments that have undergone approval from the FSA can be used for SIPP investments.
Providing an ideal location for strong mid to long term growth potential, along with an absence of capital gains taxes after 5 years ownership, Turkey presents and ideal real estate investment market. Turkey’s steadily growing economy, emerging market real estate demands and strong tourism growth, all assist in enabling an ideal market for SIPP investments.
For investors, the most important feature of the Manzara development is the financial breakdown. Designed to assist the buyer in the current real estate market, the developer has created a winning combination of investment features.
Owners can take advantage of a 5 year rental through a prominent European tour company, offering a guaranteed 6% annual return. Buyers wishing to arrange their own rental management are free to do so, as the guaranteed offers are purely optional. The 5 year rental guarantee can also be extended at the end of the term for an additional 5 years, enabling 10 years of guaranteed returns. The rental scheme provides 4 weeks personal usage each year, ideal for summer and winter breaks in a desirable holiday destination.
Investors wishing to take advantage of a fully managed apartment with guaranteed returns are also offered the option to sell their units back to the developer after 5 years for 150% of the purchase price. This guaranteed buy-back deal is written into the contracts of buyers who wish to take advantage of the offer, yet once again it is entirely optional.
Buyers requiring financing are further assisted with a developer mortgage entirely covered by the guaranteed rental returns. These 6% APR non-status mortgages have been specifically designed for clients of the Manzara development.
Buyers wishing to rent, manage, finance and sell their unit at their own accord are entirely free to do so, including live permanently in their property if they so wish. The investment features have been designed purely to benefit the buyers in the current market, yet are not compulsory. Mixing and matching requirements to suit the individual investor can also be arranged at the discretion of the developer.
Developer security is also important to many buyers of off-plan and under construction projects in the current market. The developer of the Manzara project has been active for 20 years with projects completed in Turkey, the UK and Bulgaria. Combined with a Dutch construction company, buyers receive the added security of purchasing from an established developer with a strong track record, along with securities in place to benefit clients in the event of unforeseen circumstances.
All units in the Manzara development are delivered fully furnished to 5-star qualities, with 24 hour room service. The 190 units are distributed between 7 apartment blocks, each with 5 floors, all benefitting from 24 hour security. Unit types available include studios, 1, 2 and 4 bedroom apartments, all surrounded by delightful Zen-style landscaped gardens.
Extensive services and amenities are featured throughout the development including two swimming pools, a spa centre, fitness centre, Turkish bath, Hammam, steam room and sauna. Other features include a poolside bar, restaurant, hairdresser and beauty salon. The full selection of services available to residents and guests is truly extensive, providing an ideal environment for luxury living.
Positioned in an idyllic setting with incredible panoramic views from every apartment, the location of the Manazara development is exceptional. Along with views of the marina, famous beaches, local castle and the near-by Greek island of Samos, the development is only minutes away from all local amenities. Easily accessible from both the Izmir and Bodrum international airports, the town is conveniently connected by an excellent road network.
Demand has been strong for properties in Kusadasi, as the popular resort town has become a sought after holiday destination. Cruise ships visit the town throughout the summer, increasing the population ten-fold, adding to the attraction for buy-to-let investments.
The benefits of controlling personal pension investments is gaining appeal amongst growing numbers of experienced real estate investors. Understanding market growth potential and investment options places an increased feeling of security for future welfare and ease of mind. The approval of SIPP compatibility for the Manzara development benefits all buyers into the project and continued confidence in the market.