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"Turkey is certainly one of the top places in the world in which to invest in property at the moment, and many investors are interested in finding the most tax efficient way of purchasing property. One choice that is becoming increasingly popular is to buy a property through the Self Invested Personal Pension or SIPP which enables the investor to access tax savings of up to 40% by buying in this structured way. This impressive figure is due to the fact that you receive tax relief equal to your income tax rate so a top tax rate payer will reduce an investment of £100,000 down to a much lower sounding figure of £60,000.
It's possible to buy brand-new properties in coastal areas such as Akbuk for £49,000 that can be expected to generate 6% rental yields. Property bought this way generally has to be bought through a property trust or fund in order to take full advantages of the tax breaks, and there are companies that have been especially set up to buy properties in this way as residential property cannot be held directly.
Anyone who doesn't have a SIPP has the opportunity of transferring money out of a traditional pension fund as this gives them the benefit of being able to take a 25% lump sum from the total amount upon retirement. SIPPs are generally chosen by those people who wish to self-invest their personal pensions and to have the freedom of choice to choose where the money is invested, although some companies have restrictions on the types of investments allowed which may include the purchase of property.
