Garden Apartment at Mandalya Gardens for Sale (Akbuk)
Hello all Forum Users

I have the following property for sale: Fully Furnished 2 Bedroom Garden Apartment on the Mandalya Gardens Development in Akbuk. I have tried to include as much information as possible for any potential buyer so apologies for the long post.

Property Details

The property comprises of the hall, open plan kitchen and lounge with patio doors to a terrace and small garden, master bedroom with en-suit shower room with French doors to terrace and small garden, 2nd double bedroom, and bathroom. Both terraces and the garden offer a fantastic view over Akbuk bay and the pool area of the development. The total area of the property including the garden and terraces is 129 square meters. Air conditioning is fitted in the open plan kitchen and lounge and master bedroom. The property is fully furnished throughout and I personally furnished the property 18 months ago when it was originally completed. Furnishings include: beds, sofa, wardrobes, lamps, bedside cabinets, table & chairs, fridge/freezer, microwave, kitchenware, bed linen, curtains, TV, satellite box etc. The property was finished to a high standard when it was originally completed and has been well maintained over the last 18 months. I have used a local property services company for monthly checks, cleaning etc.

The development itself is a luxury hillside development backing onto a protected forest which offers beautiful panoramic views of Akbuk Bay and the Aegean Sea. The development is located a mile from the beach, shops and restaurants of Akbuk which equates to a 20 minute walk. The walk is uphill on the way back from the development and the development itself is situated on a hillside which does require you to climb up some steps to the property. The development also features a 240 square meter pool, small children's pool, restaurant, wine bar, and mini mart. The development has won the "Best Development in Turkey" award in the CNBC International Property Awards in 2009.

Inspection & Selling Process

If anyone would like to look at the property I have arranged for the local property services company to show interested parties round the property as they have the keys etc. They are going to charge me for this service so if you would like to look round please be a serious buyer and not someone just having a nosey. If you would like to view the property please let me know and I can make the necessary arrangements.

The same property services company would also be willing to take the buyer through the buying process for a fee of £250. Means that the buyer saves on the 3% commission which is usually payable when a property is purchased from an estate agent and I also save on the 3% commission which is usually payable to the estate agent.

Selling Price

I am looking to sell the property for aprice in the region of £55,000. I have spent around £65,000 purchasing the property and furnishing it therefore if I sell at this price I will be taking a significant loss. The selling price is around £7,000 - £8,000 cheaper than the price currently being offered via the marketing company and includes all fixtures, fittings and furniture within the property. See the links at the bottom to the marketing company's promotional material and prices.

Reason for Selling

I am selling because I have now decided to buy a larger house where I live and need to free up what little capital I have in the property as well as pay off the mortgage on the property which is currently preventing me from securing the mortgage I need in the UK.

Tapu Etc

I have the Tapu and habitation certificate for the property. The property has also been connected to water and electricity utilities and I now receive bills directly to the property rather than via the developer. There is a charge for changing the name on the utility connections but it is cheaper than installation of the meters and original connections etc.

Photos

I have uploaded a few photos of the property. If you would like more please let me know and I will send them to you. I have loads from when I first furnished the property and trip my parents in law made there in June this year.

Rental

This year we let the property out for approximately 3 months. 2 months of that was a long term let for which we received 400 TL and the other weeks were holiday lets for which we received around £150 per week. Holiday lets earn far more money but with a long term let you can guarantee a longer letting period and hopefully secure income for a longer period. As it was an old couple let our property and they found the walk into Akbuk too much for them so left after two months at the beginning of September.

There are other options for letting the property and recently a rental company has approached the owners at Mandalya Gardens asking if they would be interested in marketing the properties on our behalf. I can forward details to any interested buyer.

Maintenance Costs

At present the developer provides the annual maintenance for the development. The charge for this during the past year was in the region of £1,000. This includes gardening, tidying, pool maintenance, night security etc. I can provide a full analysis if required. The owners are currently looking at alternative providers to try and reduce this annual cost.

Marketing Company Info

http://www.viceroyinvest.co.uk/downloads/eBrochure_Mandalya_Gardens.pdf


Questions

I think I have covered everything but if anyone has any questions please feel free to ask them here or send me a private message. If you would like to email me directly please PM me and I will send you my email address.

Help

If anyone has any advice on selling I would be grateful to hear their input. Please PM me with any helpful suggestions.

Kind regards

Andrew
 

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botchy123

Member
Garden Apartment at Mandalya Gardens for Sale (Akbuk)
Re: Garden Apartment at Manadalya Gardens for Sale (Akbuk)

Andrew,

I really think you will be struggling.A 2 bed apartment for 55k with 1K a year maintenance.It does not matter what the marketing company is selling for "what is it worth?"

Just my opinion

Good luck
 

manc02

Member
Garden Apartment at Mandalya Gardens for Sale (Akbuk)
Re: Garden Apartment at Manadalya Gardens for Sale (Akbuk)

£1000 per year is a very high maintenance fee, and 55k for a 2 bed property 20mins walk from the sea/village is expecting a lot in my opinion. Not trying to be negative but realistic, I know its a lovely complex but overpriced initially when sold in my opinion.
 
Garden Apartment at Mandalya Gardens for Sale (Akbuk)
Re: Garden Apartment at Manadalya Gardens for Sale (Akbuk)

Thanks for the comments guys.

I know that the £1k a year maintenance fee is high and this has been a source of great debate amoungst the owners.

We are looking at alternatives and hope to bring this cost down significantly next year.

The price is open for negotiation but there is a certain price I won't go below and £55k is more of an offers in the region of guide.

I also think it reflects the quality of the property and the development as a whole. I have visited a few developments and properties in the area and I genuinely believe it is one of the best in the area.
 

EVELYNNE

evelynne
Garden Apartment at Mandalya Gardens for Sale (Akbuk)
Re: Garden Apartment at Manadalya Gardens for Sale (Akbuk)

well im no estate agent but for akbuk i think it a reasonable price, the fees are very expensive though.

good luck with your sale
 

botchy123

Member
Garden Apartment at Mandalya Gardens for Sale (Akbuk)
Re: Garden Apartment at Manadalya Gardens for Sale (Akbuk)

well im no estate agent but for akbuk i think it a reasonable price, the fees are very expensive though.

good luck with your sale

I am no estate agent either but i do not think that Akbuk is the Marbella of Turkey.

Bob has a 5 bed villa for sale,2 minutes to the beach and fully furnished for about 70K if i recall.I know what i would purchase!

As the other poster has mentioned maybe the sales price was a little inflated in the first place.



Good to see the complex is trying to look into the maintenance issues as these costs really put people off buying in my view.

1000 pounds a year is totallt ridiculous.How many apartments are there?
 
Garden Apartment at Mandalya Gardens for Sale (Akbuk)
Re: Garden Apartment at Manadalya Gardens for Sale (Akbuk)

Hello all and Happy New Year!!!

I am on a mission to sell my place in Akbuk this year and to that end have decided to reduce the asking price.

The aksing price is now £48,000 which includes all the furniture within the apartment. This is significantly below the price I paid to purchase the property not to mention the and cost of then furnishing it.

I know that when I previosuly advertised the property the level of the maintenance fees was of some concern. The owners have now received a quote for the annual maintenance of £816 which I think is still high but is at least less than the £1,000 I had previosuly stated. The company which has quoted £816 has said this amount can be paid by instalments and I will ofcourse be paying these until the property sells (assuming it sells) therefore the full amount will not be payable by the purchaser in the first year. Once a new owner is in they will have the opportunity to investigate cheaper options for future years with the other owners. If the maintenance fees are a particualr sticking point with any potential purchaser then I am sure we can come to some agreement regarding these for the year of purchase.


If anyone has any queries regarding the property please feel to post them here or send me a PM. If anyone would like to view the property I can also arrange this with the property management company I use.

Kind regards

Andrew
 

markie b

Member
Garden Apartment at Mandalya Gardens for Sale (Akbuk)
Re: Garden Apartment at Manadalya Gardens for Sale (Akbuk)

£816 are you on another planet, me thinks you will be reducing your place to £28,000 and you still will not get much interest
 
Garden Apartment at Mandalya Gardens for Sale (Akbuk)
Re: Garden Apartment at Manadalya Gardens for Sale (Akbuk)

Very constructive.

Thanks for your input.
 

bobthenob

Non Active Member
Garden Apartment at Mandalya Gardens for Sale (Akbuk)
Re: Garden Apartment at Manadalya Gardens for Sale (Akbuk)

Have you read my thread on how to sell your property.

There are some agents in Altinkum that might be able to help you.
Choice estate agents said they have many ex-pat Turkish clients in Germany that wants to buy.Try them and see.
But l do have say this.The properties in mandalya[like many others on complexes]were vastly overpriced to begin with.

You will sell it at a loss like most sellers now,because the properties were overpriced in the first place.
You wouldn't find a Turk paying that amount for a 2 bed and well away from the seafront amenities.
l struggled selling my house here in Akbuk with such ridiculous offers.But if the truth was told,lt was sold to me as overpriced and l would would never made an investment on it.

l know of one complex where this guy bought a 3 bed duplex for 67,000pd's.lt was valued at 28,000pds by a Turk without no tapu and no H.C.
Just giving you some facts about what you should expect because of what you payed for it.
 
Garden Apartment at Mandalya Gardens for Sale (Akbuk)
Re: Garden Apartment at Manadalya Gardens for Sale (Akbuk)

Bob

Thanks for the info.

I did see your post on selling but the option of putting a great big for sale sign on the building isn't an option. Don't think the other owners would appreciate it nor would the developers who are trying to sell properties on the development.

Have tried Choices before but didn't get anywhere with them. Will drop them an email again and see if they can help now that the asking price has been agreed.

Totally agree about the properties being overpriced when they were originally sold. Selling at £48k results in a loss of around £16k when I take into account the loss on the purchase price, cost of furnishing the property and other acquisition costs. Hindsight is a wondeful thing.

I do think that £48k is realistic and it is a good price for what you get. The development and property really are fantastic. It is a walk into the village centre and beach but some people enjoy the opportunity to stretch their legs and it is usually possible to get a lift back to the development at night from a kind local.
 
Garden Apartment at Mandalya Gardens for Sale (Akbuk)
Re: Garden Apartment at Manadalya Gardens for Sale (Akbuk)

Hello all forum users

Quick update on selling my property. I am sure you will not be surprised to hear that there has been little interest in my property. I am sure the maintenance fees and the price have been putting people off.

For various reasons I would like to sell the property as soon as possible. It is being advertised with Let's Akbuk / Let's Altinkum and you can find details of the property there along with the reduced selling price of £45,000.

Hopefully reducing the selling price will mean there is some additional interest. The other main issue was the maintenance fees and unfortunately this has still to be resoled this year. Last years provider has said he will do it for £800 however this is still high by Turkish standards. The owners are collectively working to try and get this reduced. If the fee remains this high for the forseable future I am willing to go 50:50 with any new owner on the fees in the first year they purchase it.

If anyone is interest please reply here or contact Let's Akbuk / Let's Altinkum. If you contact me directly there will be less commission to pay on both sides so contacting me directly would be preferable.

If anyone has any queries then please let me know.

Kind regards

Andrew
 

oldfogy

Just passing through
Garden Apartment at Mandalya Gardens for Sale (Akbuk)
Re: Garden Apartment at Manadalya Gardens for Sale (Akbuk)

Bob
...... the option of putting a great big for sale sign on the building isn't an option.

Don't think the other owners would appreciate it nor would the developers who are trying to sell properties on the development.

Well how about putting a sign in one of your windows, at least if there are people walking by they will see it.

>> Don't think the other owners would appreciate it
Maybe not, but it might also send out the message to them, although they probably already know you are not happy with them.

As for the other owners, well it's your money not theirs.
 

Cat84

Member
Garden Apartment at Mandalya Gardens for Sale (Akbuk)
Re: Garden Apartment at Manadalya Gardens for Sale (Akbuk)

Hi

Could you put some more pictures on, it would help get a better feel for the apartment and layout

Also which number is your apartment, then people could locate it on the plan on the developers website and see where it is situated within the development

Regards
 
Garden Apartment at Mandalya Gardens for Sale (Akbuk)
Re: Garden Apartment at Manadalya Gardens for Sale (Akbuk)

oldfogy

I could put a sign in the window but my apartment is within the centre of the development and the only people who would pass by it would be other visitors / owners on the development itself. Might attract some interest so I will speak to Let's Akbuk about them putting a advert in one of the windows.

cat84

I have loads of pictures of the property as well as some videos. I will try and post some additional photos this evening when I return home. The partment number is A8.
 

clayballs

Member
Garden Apartment at Mandalya Gardens for Sale (Akbuk)
Re: Garden Apartment at Manadalya Gardens for Sale (Akbuk)

Hi there ,i think being british it's well worth it , and I must say beautiful place you have there. Wish we could buy it , and i'm sure some one will come along and buy it from you. Just wait and see , time will tell , good luck
 

Kidu

New Member
Garden Apartment at Mandalya Gardens for Sale (Akbuk)
Re: Garden Apartment at Manadalya Gardens for Sale (Akbuk)

Hi Andrew,
I have sent you a PM.
 

oldfogy

Just passing through
Garden Apartment at Mandalya Gardens for Sale (Akbuk)
Re: Garden Apartment at Manadalya Gardens for Sale (Akbuk)

Hi Andrew,
I have sent you a PM.
Hope you don't mind me saying, but providing the other person has their settings set, then they will receive a email alerting them to any PM that is sent to them, so there is no real need to post in the forum that you have sent a PM.
 

Kidu

New Member
Garden Apartment at Mandalya Gardens for Sale (Akbuk)
Re: Garden Apartment at Manadalya Gardens for Sale (Akbuk)

Hope you don't mind me saying, but providing the other person has their settings set, then they will receive a email alerting them to any PM that is sent to them, so there is no real need to post in the forum that you have sent a PM.

Hi Oldfogy,
Of course I don`t mind you saying, but maybe he does`nt have his setting set," I`m a belt & braces man myself ". I`m also new to all this posting stuff so thanks for the heads up, because I`m new I can`t start a new thread yet so would like to take this opportunity to say I am looking for a studio or a 1 bed possibly 2 bed apt, if anybody has one for sale get in touch.
 

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