By recessing portions of the drain and source areas on the basis of a spacer structure, the subsequent implantation process for forming the deep drain and source regions may result in a moderately high dopant concentration extending down to the buried insulating layer of an SOI transistor. Furthermore, the spacer structure maintains a significant amount of a strained semiconductor alloy with its original thickness, thereby providing an efficient strain-inducing mechanism. By using sophisticated anneal techniques, undue lateral diffusion may be avoided, thereby allowing a reduction of the lateral width of the respective spacers and thus a reduction of the length of the transistor devices. Hence, enhanced charge carrier mobility in combination with reduced junction capacitance may be accomplished on the basis of reduced lateral dimensions.