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The Mistral Apartments
BUYERS INVESTMENT GUIDE
The Mistral apartments are an award winning
development of beach and golf apartments in
the town of Gulluk on the Bodrum peninsula.
t: 01708 520000 |
e: [email protected]
|
w: www.villauno.com
The Mistral Apartments
The Mistral Apartments are one of the premier lifestyle investment
choices on the Bodrum peninsula. Offering a 365 day lifestyle
Gulluk is perfectly located for both beach and golf. Ideal for holidays
or as a rental investment.
Features
3
•
Mistral is an award winning development.
•
45 Luxury 1, 2 or 3 bed apartments.
•
Gulluk, the property hotspot of Turkey.
•
10mins drive to Bodrum International Airport.
•
5 minutes walk to the town and beach.
•
3 local Golf courses only 10minutes away.
•
Tennis, volley ball, swimming and fitness
•
Fantastic sailing and a new marina planned.
•
Designed for easy living and easy rental.
•
Full Concierge and rental service on site.
•
Large private terraces all with sea views.
•
All apartments available fully furnished .
•
1 bedroom apartments from just £44,999
•
2 bedroom apartments from just £64,999
•
3 bedroom apartments from just £79,999
a great place to invest
why Turkey?
You will have no doubt read a lot of
hype about the property market in
Turkey. Some information is at best
misleading other reading more realistic.
Turkey is undoubtedly a ‘rising market’
but we prefer to let you reach your own
conclusions rather than quote capital
growth figures. We would, however, like
to quote some facts to help you in your
decision making.
Despite recent press coverage about
Turkey’s slow road to EU accession the
good news is that these hold-ups have
not had a negative effect on Turkey’s
economy or housing market. A recent
article in the International Herald
Tribune (06/12/2006)* entitled ‘Turkey’s
economic future looks bright’, stated: “…
regardless of the outcome, most
analysts believe that the underlying
strength of the Turkish economy will
help the country pull through, even
though its pride may be battered a bit.”
Turkey is the 1 6th largest economy in
the world with an expected GDP of
$382 billion, which puts the Turkish
economy ahead of Belgium,
Switzerland and Sweden in 2006.
Turkey is also among the top seven
emerging markets. Research for Price
4
Waterhouse Coopers regards Turkey
as a faster-growing market than China,
India and the rest of the so-called E7
countries. As economic growth
translates into increased spending
power, there will be a strong upward
pressure on property prices. In recent
years the economic transformation in
Turkey has been dramatic and the
country is now more stable
economically and politically than ever
before. Turkey has been a member of
the United Nations since 1 945 and a
member of NATO since 1 952. It has
also been a secular state since 1 923
where religion and the state are
separate. In October 2005, Turkey met
all of the Copenhagen Criteria, the
political criteria which are the prerequisites for starting the full EU
membership negotiations. These
negotiations have had a positive effect
on foreign investment. Even with EU
talks not going as quickly as hoped, the
efforts made already have been
enough to show their determination to
improve the country’s economy and
become a world player.
*www.iht.com/articles/2006/12/06/
reports/reu.php
Capital Gains
There is no capital gains tax on the
sales of property in Turkey after a
period of 5 years ownership. In the
event you sell your property within
the 5 year period there is personal
income tax on the gain after the
inflation adjusted acquisition price
Taxation Treaty
There is a double taxation treaty in
place between Turkey and the UK
so you will only pay tax once on
rental income and capital gains
from your properties in Turkey.
Annual Property tax
There is an annual real estate tax of
0.1% of the property value
Income from UK pensions is not
taxed in Turkey and can be freely
transferred from the UK.
Personal income tax in Turkey
ranges from 15-35% depending
upon the income. Please contact
your financial adviser for further
details.
About Gulluk
The Mistral Apartments
The town of Gulluk on the Bodrum Peninsula
Gulluk was, until recently, the undiscovered gem of the Bodrum peninsula.
Located at the north of the peninsula, Gulluk is becoming the location of
choice for a growing number of holiday-makers and foreign investors. Just
10 minutes drive from Bodrum International airport and 25 minutes drive
from Bodrum town, Gulluk is an enchanting mix of old world charm and
modern amenities.
With 300 days of sunshine, a temperate climate
and a cooling offshore breeze Gulluk offers the
perfect location for laid back living. The average
temperature in summer can rise to the mid 30’s
with the temperature rarely dropping below 10 C
in winter. Humidity is low throughout the year.
Unlike many areas on the Bodrum peninsula, Gulluk is a thriving
community throughout the year. Its many seafront restaurants are open
all year round, catering for locals and tourists alike and offering great
value for money. Overlooking the bay of Gulluk, the development provides
the benefit of peace and tranquility, whilst being just 10 minutes walk from
the hustle and bustle of the town centre.
Gulluk is located just 10 minutes drive from
Bodrum Milas International Airport. There are
regular direct flights from most UK airports
during the summer season (April to November)
and flights throughout the year from
Manchester, Birmingham and Gatwick.
The area around Gulluk has a lot to offer whatever the season. The
historic sites of Iassos and Bodrum provide a cultural backdrop to the
many leisure activities available. With the Aegean on your door step
sailing, windsurfing, scuba diving and fishing are readily available. The new
Vita park Golf course is just 10 minutes drive from flipflops, and is the just
the first of many courses planned for the area.
www.charterflights.co.uk www.xl.com
www.flythomascook.com www.h4u.com
And of course Bodrum town is easily accessible for those looking for the
late nightclubs bars for which it is famed.
5
distances
Town
Beaches
Bodrum Milas Airport
Vita Park Golf course
Bodrum Town
500m
700m
10km
10km
30km
Tourist Map of Gulluk
The Mistral Apartments
0
500
250
Scale in metres
IASSOS
BODRUM
AIIRPORT
GULLUK
NET HOLDINGS GOLF
The Mistral Apartments
VITA PARK GOLF
GUVERCINLIK
MUNCULAR
YALIKAVAK
BODRUM TOWN
TURGUTREIS
6
Why Gulluk
We have chosen Gulluk as the location for the Mistral Apartments not just for
the great views and amenities, but also for its investment potential. Just like our
buyers, we too are looking for the best value locations that offer great potential
for capital growth. So what makes Gulluk such a great place to buy?
A property hotspot
The property prices in established areas such as Bodrum and Yalikavak, have
risen dramatically over the last three years. These high prices have caused an
‘overflow’ effect which has led to buyers looking for better value in the
surrounding areas. Gulluk has started to benefit from this ‘overflow’ and is now
seeing a massive rise in popularity.
Local investment
Over the past 1 2 months, sparked by the relocation of the commercial port and
plans for a new private yacht marina, Gulluk has proved a hotspot for property
investors. The local municipality is firmly committed to establishing Gulluk as a
holiday destination of choice and is actively promoting tourism in the area. This
pretty fishing town is already benefiting from new shops, restaurants and bars.
In addition Palm Beach, which is the nearest beach to the Meltemi Residences,
is being extended to provide greater space and amenities.
Golf courses
The Vita Golf course in Tuzla is the first of many planned for the area. The Vita
development compromises two 18 hole golf courses the first of which is due to
open in 2008. Net Holdings has also started construction on a third course
close to Gulluk. These planned golf developments will undoubtedly benefit local
property prices over the proceeding years and help extend the tourism season
for those considering rental income.
Restricted development
Development in Gulluk is restricted to low rise stucco buildings and with the
limited availability of land, Gulluk is unlikely to be over developed, keeping
property prices at a premium in the future.
Mortgages
New legislation has been passed by the government allowing mortgages for
the local population from 2008. Gulluk is already a popular holiday destination
for the Turks, with many having weekend and holiday homes there. Its
proximity to the airport makes it easily accessible for the emerging middle
classes in Istanbul and Ankara. Furthermore, the availability of mortgages will
undoubtedly contribute to the local market becoming more active.
7
A 365 day lifestyle
If you think flipflops are just for the summer then think again.
8
The Mistral Development
The Mistral Apartments are one of the premier lifestyle investment choices on the Bodrum
peninsula. It has been specifically designed for those people looking for a low entry, low hassle
route to property investment abroad.
The Mistral Apartments and its sister development the Meltemi Residences have been created
to tick all the boxes for easy ownership and easy rental. This family friendly development not
only has the best facilities in the area it also offers an onsite concierge service specifically to
make managing and renting your property as convenient as possible.
In addition the development has already won a coveted International Property Award for best
Architecture and was highly commended by What Green Home for it s creation of a
development that was not only ecologically sustainable but also socially and economically.
9
Development highlights
Off Plan Pre Launch Prices
FREE FURNITURE FOR A LIMITED PERIOD
1 bedroom apartments from just £44,999
2 bedroom apartments from just £64,999
3 bedroom apartments from just £79,999
Location
• 300 days sunshine pa.
• Flights throughout the year
• Close proximity to airport
• Close to new Golf courses
• Gulluk active all year round
• High & low season activities
Apartments
• Luxury 1,2 & 3 bed apartments
• High quality finishes
• Large private terraces
• Full sea views
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Luxury complex
• Freeform swimming pools
• Children's pool area
• Jacuzzi & pool bar
• Sun beds & terraces
• Restaurant & bar
• Children's play area
• Beach volley ball
• Fitness centre
• Tennis court
Rental Support
• Guest meet & greet service
• English speaking Concierge
• Laundry & cleaning service
• Rental management
• Rental support
Finance
• Mortgages on completion
• Flexible payment plans
Completion
• December 09
Stunning Views
All the Mistral Apartments have stunning unadulterated sea views and
large private terraces, perfect for dining, sunbathing or simply just relaxing.
Overlooking the town of Gulluk, with stunning views of the Bay
oand the famous Aegean sunsets, the development is peace
and tranquillity.
Just 5 minutes walk to the town centre with its cosmopolitan
shops, bars, restaurants and beaches the Mistral apartments
are perfectly located.
For the more active the new golf courses are only 10 minutes
drive with the Vita Park course the first to open and offer pay
and play. A third 18 hole course is under construction on the
out skirts of Gullluk by Net Holdings and once complete will
provide an excellent addition to Vita Park.
Bodrum and the surrounding areas are within easy reach and
for the more adventurous Istanbul is only an hours flight.
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The Development
B
A
E
D
C
MAIN POOL AREA
RECEPTION
BAR& RESTAURANT
FITNESS
PLAY AREA
TENNIS
The Mistral Apartment Guide
9
APARTMENT BLOCK A
10
11
12
5
6
1
2
1 BED 2 BED
7
8
3
4
2 BED 1 BED
On Site Facilities
APARTMENT BLOCK B
9
10
11
12
•
5
•
6
1
2
1 BED 2 BED
7
8
3
4
2 BED 1 BED
•
APARTMENT BLOCK E
APARTMENT BLOCK C
4
5
6
1
3 BED
2
2 BED
3
3 BED
APARTMENT BLOCK D
4
5
6
1
3 BED
2
2 BED
3
3 BED
•
7
8
9
•
4
5
6
1
2 BED
2
2 BED
3
2 BED
•
The Mistral apartments all share the fabulous sea views and all the facilities of its
sister development the Flipflops Meltemi Residences.
This development has an unparalleled level of amenities for Gulluk which is
attracting both the lifestyle buyer looking for that perfect holiday apartment as well
as the investor looking for an attractive rental package.
•
•
•
•
•
•
•
12
2 swimming pools
children's pool area
children's play area
jacuzzi & pool bar
sun beds & terraces
restaurant & bar
beach volley ball
fitness centre
tennis court
reception area
24/7 Concierge
laundry& cleaning
rental management
The Apartments
All the Mistral apartments are available fully furnished in a contemporary European
style using cool, neutral colours and light wood veneers. This provides you with a
perfect blank canvas on which to apply your own personal style.
Much of the furniture is made to our own bespoke design with house wares and fabrics sourced from the best local and
European suppliers. The images shown are indicative of the style and finish of the apartments.
The kitchens feature fully fitted birch or white units and a breakfast bar. Also included is an integrated electric oven, hob and
extractor fan. Stainless steel sink and chrome taps, fridge freezer and electric water heater. All the bedrooms have large
double beds, fully fitted wardrobes and dressing tables where illustrated. The family and en-suite bathrooms include contemporary bathroom suites, walk in shower units and floor to ceiling ceramic tiling.
All apartments have high quality Crema Marfil ceramic flooring throughout. The main feature of all apartments are the large
terraces with ample space for dining and sunbathing and of course those magnificent sea views.
13
Mistral 1 bedroom
44m2 of laid back living
Our one bedroom apartments are made for relaxing in the sun, complete with large master bedroom, plenty of storage, contemporary
fittings and light, spacious open-plan living area.
Our apartments are all finished to a high standard The kitchen features fully fitted birch or white units and a
breakfast bar. The bathroom includes a contemporary bathroom suite, walk in shower unit and floor to ceiling
ceramic tiling. All rooms have high quality Crema Marfil ceramic flooring throughout for that cool contemporary feel.
All the terraces have magnificent sea views with space to dine an sunbath in privacy.
14
Mistral 2 bedroom
70m2 of calm sophistication
Two bedroom tranquillity with a sea view from the large master bedroom, an open-plan living area and a second double bedroom. Plus,
of course, the large generous terrace.
The kitchens feature fully fitted birch or white units and a breakfast bar. The family bathroom includes a contemporary bathroom suite, walk in shower units and floor to ceiling ceramic tiling.
All apartments have high quality Crema Marfil ceramic flooring throughout. The main feature of all apartments
are the large terraces with ample space for dining and sunbathing and of course those magnificent sea
views.
15
Mistral 3 bedroom
85m2 of elegant living
A three bedroom retreat, perfect for families and entertaining guests.
With a master bedroom enjoying sea views and an en suite shower room, two more spacious double bedrooms, large living area and a sun terrace big enough for everyone.
The kitchens feature fully fitted birch or white units and a breakfast bar. The family and en-suite bathrooms
include contemporary bathroom suites, walk in shower units and floor to ceiling ceramic tiling.
.
16
The Furnishing Packs
In addition to the designer furniture packs available for each apartment type there
are a range of option packs that allow you to refine your living experience.
Option Packs ( prices available on request)
Twin Room Upgrade
Up grade your double room to a twin room
2 x single bed frames
2 x single mattress
2 x head boards
1 x side table
2 x single duvets
2 x mattress protector
2 x white duvet cover
2 x white sheets
Entertainment Pack
We will be offering a range of TV, DVD and music options for your
apartment. Due to the rate of change in the electronics market
specifications and prices will not be set until Dec 08.
Rental Pack
For those wishing to rent their property on a regular basis
our rental pack includes upgraded fabrics for all soft furnishings
and a spare set of linen and towels for each bed.
Guest Pack
For those of you looking to accommodate additional or occasional
guests this is a great option.
Sofa bed upgrade
1 x double duvet
2 x pillows
1 x mattress protector
1 x white duvet cover
1 x white double sheet
2 x white pillow cases
2 x bath towels
2 x hand towels
2 x dinner plates
2 x side plates
2 x bowls
2 x cups & saucers
2 x mugs
2 x wine glasses
2 x tumblers
2 x Cutlery setting
Cool Pack
Flipflops apartments are perfectly located to catch the cooling on
shore breeze of the Meltemi during the summer months. If however
you require air conditioning this is available as an option.
The Furnishing Packs
Our furniture packs have been created with design and convenience in mind.
Much of the furniture is made to our own bespoke design with house wares and
fabrics sourced from the best local and European suppliers.
1 bedroom apartment
2 bedroom apartment
Living area
3 Seat sofa
Coffee/side table
Side Console
2 x bar stools
Full length curtains
Bedroom
Double bed frame
Mattress
Head board & side tables
2 x table lamps
Built in wardrobe & shelving
Coat hangers x 10
Dressing table
Mirror
Window blind
Linen
1 x double duvet
2 x pillows
1 x mattress protector
1 x white duvet cover
1 x white double sheet
2 x white pillow cases
4 x cups & saucers
4 x mugs
4 x wine glasses
4 x tumblers
1 x glass jug
1 x mixing bowl
1 x 16 piece cutlery set
1 x knife set
1 x can opener
1 x corkscrew
1 x pan set
1 x frying pan
1 x salt & pepper set
1 x cheese grater
1 x chopping board
5 x tea towels
1 x dustpan & brush
1 x mop & bucket
1 x waste bin
1 x kettle
Patio
White patio table
4 x white patio chairs
2 x bath towels
2 x hand towels
Living area
2 x 2 Seat sofa
Coffee/side table
Side Console
4 x bar stools
Full length curtains
Bedroom 1
Double bed frame
Mattress
Head board & side tables
2 x table lamps
Built in wardrobe & shelving
Coat hangers x 10
Dressing table
Mirror
Window blind
Bedroom 2
Double bed frame
Mattress
Head board & side tables
2 x table lamps
Built in wardrobe & shelving
Coat hangers x 10
Dressing table
Mirror
Window blind
Linen
2 x double duvet
4 x pillows
2 x mattress protector
2 x white duvet cover
House wares
4 x dinner plates
4 x side plates
4 x bowls
2 x white double sheet
4 x white pillow cases
4 x bath towels
4 x hand towels
House wares
6 x dinner plates
6 x side plates
6x bowls
6 x cups & saucers
6 x mugs
6 x wine glasses
6 x tumblers
1 x glass jug
1 x mixing bowl
1 x 16 piece cutlery set
1 x knife set
1 x can opener
1 x corkscrew
1 x pan set
1 x frying pan
1 x salt & pepper set
1 x cheese grater
1 x chopping board
5 x tea towels
1 x dustpan & brush
1 x mop & bucket
1 x waste bin
1 x kettle
Patio
White patio table
4 x white patio chairs
3 bedroom apartment
Living area
3 Seat sofa
2 seat sofa
Coffee/side table
Side Console
6 x bar stools
Full length curtains
Bedroom 1
Double bed frame
Mattress
Head board & side tables
2 x table lamps
Built in wardrobe & shelving
Coat hangers x 10
Dressing table
Mirror
Window blind
Bedroom 2
18
Double bed frame
Mattress
Head board & side tables
2 x table lamps
Built in wardrobe & shelving
Coat hangers x 10
Dressing table
Mirror
Window blind
Bedroom 3
Double bed frame
Mattress
Head board & side tables
2 x table lamps
Built in wardrobe & shelving
Coat hangers x 10
Dressing table
Mirror
Window blind
Linen
3 x double duvet
6 x pillows
3 x mattress protector
3 x white duvet cover
3 x white double sheet
6 x white pillow cases
6 x bath towels
6 x hand towels
House wares
8 x dinner plates
8 x side plates
8 x bowls
8 x cups & saucers
8 x mugs
8 x wine glasses
8 x tumblers
1 x glass jug
1 x mixing bowl
1 x 32 piece cutlery set
1 x knife set
1 x can opener
1 x corkscrew
1 x pan set
1 x frying pan
1 x salt & pepper set
1 x cheese grater
1 x chopping board
5 x tea towels
1 x dustpan & brush
1 x mop & bucket
1 x waste bin
1 x kettle
Patio
White patio table
4 x white patio chairs
Investment notes
PRE LAUNCH PROMOTION
We have a limited number of FREE furniture packs available for
early investors worth 1000’s. Please ak your agent for details.
Capital appreciation
Turkey has seen significant prices rises over the last 5 years since foreign ownership was permitted. In 2008 property
prices in areas such as Bodrum have started to plateau due to over development whilst property hotspots such have Gulluk
are still rising strongly. The main attraction of Gulluk is that its rising prices are not just attributable to the general rising
market but are driven by fundamental changes to its infrastructure and the local golf developments.
The relocation of the commercial port and the heavy commercial traffic associated with it has brought massive touristic
investment. With plans for a new marina the town of Gulluk is being rapidly transformed from a commercial centre to a
premium holiday destination. The construction of 3 local golf courses are having a dramatic effect on the local economy with
considerable investment being targeted at the anticipated Golf tourism from both local and international markets.
Price comparatives.
There are currently a number of Turkish developers operating in Gulluk and developments vary in quality and location. There
are no developments in Gulluk Town that offer a similar level of amenities to the Mistral apartments and none that afford all
their apartments full sea views. Typical prices in the area start at 1200 Euros/m2 rising to over 1500+ Euros for a prime
penthouse apartment.
On the opposite side of the bay of Gulluk is the Horizon sky project which whilst offering a good range of amenities is
relatively in accessible unless by boat or a long drive. It does not benefit from the convenience of the golf courses or the
ease of access to the shops, restaurants and bars of Gulluk. Prices start around 1200 Euros rising rapidly.
The Mistral apartments offer fantastic value and start at 1100 Euros m2. When you look at the location, views, design,
amenities and service you won’t find better value in the area.
19
Renting made easy
Seeing a return on your investment is an important part of overseas property
investment, as such The Mistral Apartments have been created with this in mind.
Whether you intend to rent your apartment direct or through our lettings service we
believe that the price, location, apartment design, amenities and customer support
provide the best opportunity in the Bodrum area.
the rental season
The main tourism season in Turkey starts in late May and finishes at the end of
October. During this period there are charter flights running from the majority of UK
airports. The last 12 months have seen direct flights departing throughout the year
from Gatwick, Manchester and Birmingham. The combination of year round flights
and a number of golf developments in the area is likely to increase low and high
season tourism.
The weekly prices below are based on property currently for rent in the area at
2008 prices. Please note that many of the properties, on which the prices are
based, do not have the same range of facilities that the Mistral Apartments offer.
Peak Season
£225-£250
£300-£350
£375-£425
High Season
£150-£175
£200-£250
£250-£350
Low Season
£75-£125
£100-£150
£125-£200
1 bed
2 bed
3 bed
Assuming an average annual occupancy of just 50% and an average purchase
price of £70,000 would result in a gross yield of circa 8%.
Typical weekly apartment rental rates. ref www.holidaylettings.co.uk
renting made easy
However you chose to rent your apartment independently Flipflops offers a number
of services to make your life easy. Our on-site concierge service provides an English
speaking point of contact for you and your clients. For a small fee our concierge
service can arrange for key holding, meet and greet, airport transfers, welcome
packs, laundry and cleaning services.
If you intend to rent your property on a regular basis you may want to consider our
furniture rental pack that provides robust easy clean soft furnishings and additional
linen for change over day.
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rental & investment
highlights
location
• 300 days sunshine pa.
• Flights throughout the year
• Close proximity to airport
• Close to new Golf zones
• Gulluk active all year round
• High & low season activities
apartments
• Luxury 1,2 & 3 bed apartments
• High quality finishes
• Large terraces
• Full sea views
luxury complex
• Freeform swimming pools
• Children's pool area
• Jacuzzi & pool bar
• Sun beds & terraces
• Restaurant & bar
• Tennis court
• Fitness centre
• Beach volley ball
• Children's play area
•
rental Support
• Guest meet & greet service
• English speaking Concierge
• Laundry & cleaning service
• Rental management
• 24/7 rental support
•
finances
• Flexible finance & mortgages
•
Money matters
Reservation Deposits
A reservation fee of £500 will secure your preferred property for a period of 28days within which time contracts must be
signed and the first payment made.
Payment Plans
There are 2 convenient payment plans with payments made subject to completion of construction milestones.
Payment Plan 1
30% on signing of the contracts
30% on completion of foundations and groundwork
30% at roof height
10% on completion
Payment Plan 2 is subject to a 4% discount on the sale price
80% on signing of the contracts
20% on completion
Maintenance charges
Maintenance charges are based on the gross apartment area including terrace and are estimated at £10-12 per m2.
Construction Schedule
Construction is due to start in October 2008 with completion in December 2009.
Mortgages
Turkish mortgages are available with up to 75% LTV on completion.
.
.
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t: 01708 520000 |
e: [email protected]
|
w: www.villauno.com