Joe Calzaghe makes the Right Move Abroad to Apollon Holiday Village

It seems these days that everyone is getting in on the overseas property investment act. Boxer Joe Calzaghe recently invested in not one but two apartments off plan. Firstly, Bansko Royal Towers which Nubricks featured last week, which he chose due to its proximity to Bansko’s ski gondola which is all important when it comes to renting and resale. Joe purchased through The Right Move Abroad, selecting a one bedroom apartment at 67,200 euros it will complete fully furnished and be ready to rent 1st March next year in time to catch a portion of the 2007 ski season. His plan is to let his Bansko apartment out, through his research Joe feels it has plenty of year round potential as a ski resort in winter with golfing and nature pursuits in the summer. He purchased on the basis that the Bansko Royal Towers project would yield far better returns long-term, then purchasing a second property in UK. “There are no real bargains to be had in the UK unlike the Eastern European countries, though I wish I’d bought five years ago when prices were even cheaper!” said Joe.

Joe’s confidence in the future of Eastern European property investments prompted him to also purchase off plan in the Apollon Holiday Village in Altinkum, Turkey. This time he upgraded to a three bedroom penthouse, which cost just 65,000 euros, however this investment is for private use by family and friends.  Joe has yet to visit either place but has plans to visit upon completion next year.

Joe Calzaghue has taken a sensible, level-headed approach to his property investments abroad, he has spread his risk over 2 different countries, targeting different tourism markets. His approach is long term over a 5-10 year time frame using the tortoise rather than the hare approach. With Bulgaria now set to join the EU in January 2007, this will provide a well needed boost for transport infrastructures which is improving every day with low-cost airlines currently submitting to Sofia airport for new routes in the coming years.

Turkey is also growing increasingly appealing to travellers and property buyers alike. It too is building cost effective travel links to and from Turkey, new flights via Onur Air through Holidays4U are providing a welcome new service operating low cost routes to Turkey from UK airports, including Gatwick, Manchester and Glasgow. Turkey is also learning from Spain, which to date, has already sold over one million dwellings to foreign second home buyers translating to 178 billion euros of revenue derived from real estate sales, most of which were off-plan purchases. Turkey aims to work towards the implementation of the Spanish model under which infrastructure investments such as the construction of roads and bridges and environmental arrangements in the regions are undertaken by the contracting firms wishing to develop there. Turkish property buyers like Joe, are well aware the effect this will have on future real estate prices. Joe knows that despite recently layiny claim to beating Sakio Bika with a unanimous points win to retain his WBO and IBF super-middleweight belts, boxing won’t last forever and he wants to secure his future by investing now.

Turkey is a beautiful country with much to offer visitors, a vibrant mix of Asian and European cultures both past and present, it is an open air museum, littered with many artefacts from bygone civilizations. Altinkum translates to mean “Golden Sand” and lies just over an hour’s drive from Bodrum airport. Altinkum resort has a variety of restaurants, bars and leisure options. There are now just a few units left in the launch phase of Apollon Holiday Village, Altinkum, Turkey where construction commenced in April 2006 and Phase 2 on schedule for release later this year.  With 2 bedroom apartments available €41,470, this is an excellent price for such a popular area. The complex is being constructed by a developer with an excellent track record for well-finished properties and offers investors a great range of onsite facilities securing future resale potential and interim rental income.

This new development comprises 2 & 3 bedroom apartments, duplexes, penthouses and villas located in a brand new residential area a short ride from the main shopping and nightlife offerings of Altinkum. The newly completed Aqua Park is just 3 mins away or for something more relaxing the beach is 800 metres away enabling sea views from most apartments and the reason this latest project is set to be one of the best quality apartments in the area, offering huge potential and value for money.

In order to make the most out of the project, the developer has added a selection of five star facilities which enhance your lifestyle whilst on holiday. Facilities include:
- 100 seat bar and restaurant
- Mini-market for every day essentials
- 250m2 Swimming Pool (largest in Altinkum)
- Gymnasium with Sauna
- Games Room with pool table, table tennis and video games
-Free Bus Service to the beach, the aqua park and the town centre (exclusive to Apollon Holiday Village).
- Reception Area for property management and booking in guests
(full management service on offer)
- 24 hour on site security operating 365 days per year

Taking inspiration from the Apollon Temple ruins which are less than ten minutes walk away, here you will also find some the town’s best restaurants overlooking the ruins. Great attention to detail was given to the aesthetics of the building architecture ensuring no high-rise buildings ruin the excellent views across to the Aegean Sea and Altinkum. The development is built on elevated land, enjoying a prime position as this up-and-coming area gains in popularity.

16 two bedroom apartments, 50 three bedroom, 28 three bedroom penthouses and only 9 detached villas make up the development. All properties offer light, airy accommodation, open-plan living and are completed fitted with finishing touches such as vanity units in bathrooms, mosquito nets and decorative coving. Detached villas include spacious roof terraces with built-in brick BBQ.

Payment terms start with a refundable initial reservation deposit of €1,500 securing your plot for 1 month, allowing time to visit and view the project. Upon confirmation, 30% of purchase price is required at contract signing and the balance on completion in March 2007. Payment of a 50% deposit entitled investors to a discounted rate of up to 10% of the property price. Additional costs include:
- €362 Solicitors Fee
- 1.5% of the Purchase Price (Buyers Tax)
- €116 Translators Fee
- €102 Notary Fee
- €174 Power Of Attorney Fee
- €181 Electricity Connection
- €275 Water Connection
- €2,500 - €6,000 Furnishing Costs
(dependant on your own preference)

2 Bedroom Apartments  from €41,470
3 Bedroom Apartments  from €49,764
3 Bedroom Detached Villas  from €91,234
Annual Maintenance is estimated at 550€ per annum.

Apollon Holiday Village is on the market with The Right Move Abroad (TRMA), specialists in emerging markets who recently discussed these markets in Edition 14 of the Nubricks Overseas Property Podcasts which you can download here. Continued success helping overseas property buyers has lead TRMA to open 3 new offices in Romania, Slovakia and Turkey which side alongside their Bulgarian and Irish offices and their 2 main UK offices. This will give them an even stronger foothold in these developing regions.

Turkey offers overseas home buyers one of the longest summer seasons in Europe, a low cost of living and excellent future growth prospects.