46 | AGENT PROFILE WORDS | Sean Lightbown
Erdal Tactlici, managing director and owner of Turkish agency Turkish Property Centre, believes that new developments could herald an exciting time for the business.
Selling Turkish delight T
he Turkish market has already been performing far and beyond its more illustrious counterparts.
“At the moment the overseas property market in Turkey is an exciting market as the government here is outward looking and keen to attract foreign investment,” he says. “With this in mind the new laws and visa regulations have opened the market to foreign investors from countries such as the Middle East and Russia thus ensuring fl uidity of the market - which is good for both buyers and sellers.” Tactlici acknowledges that a lot of the U.K. market has fallen away with
the economic crisis. It has been taken over by domestic buyers. However, new trends are emerging. Who is buying from overseas? “The construction of the new, impressive, International Airport Terminal at Bodrum has seen an upsurge in charter fl ights,” says Tactlici. “This in turn has led to new nationalities, such as the Scandinavian market, showing new interest in purchasing holiday homes here and with the changes in visa regulations and the reciprocity laws the market for international investment is growing all the time with the Russian and Middle Eastern markets showing more and more interest in buying here in Turkey. Why are the people purchasing?
“We feel investors are buying because they feel it is a stable economy here in Turkey and also that in areas like
Agent Profi le Erdal Tatlici, managing director and owner, Turkish Property Centre
How long have you been doing this? We are an award winning company founded in 2002 and going from strength to strength. What is your typical commission rate? 6% - Normally broken down as 3% for the buyer and 3% from the seller. Are there any trends in who is buying in 2012? With the opening of the new International Airport Terminal and the resulting upsurge in the number of charter flights we feel the Scandinavian market will continue to grow. And, of course, we are looking forward to new investment from the Middle East. Does Turkish Property Centre belong to a trade association? We belong to The British Chamber of Commerce of Turkey and the Association of International Property Professionals. Do you have any pension fund investors? We are at present in discussion with some large pension companies and hope to attract investment in the near future. Are you looking for partner networks, or new agencies overseas? We are always looking for enthusiastic reputable agents to work in partnership with us - especially in the new emerging markets such as the Middle East. How will the recent changes to the reciprocity law aff ect your business? These laws will open up the property market to nationalities who previously could not purchase property here in Turkey. What media do you use to get sales leads? (portals, websites, newspapers etc) We use our own web sites and, of course, we are featured on the web sites of our partner agents. We also attend many high profile International Property shows. Our Company is extremely fortunate in that we benefit from our existing customers recommending our services to friends and business associates. What types of property are selling well? (condos, apartments, villas etc) We are seeing interest in all kinds of property from those looking to invest in the Rental market, those looking for a holiday home and those looking to re-locate. As such we are selling a broad range of properties from 1 Bedroom Apart- ments to 4 Bedroom Detached Villas.
Bodrum they can see the investment being made by the government in the infrastructure of the tourism sector - i.e. new marinas, new roads, new golf courses and and clearer property laws for non-Turkish citizens buying here.
“We are in contact with several agents based in the Middle East with the aim of working together”
This confi dence in the economy can be seen by the investment of hotel groups like the Hilton and Kempinsky Group. What does he think will happen in the market over the next year? Tactlici is positive. “We can only envisage an increase in the level of investment in
BUSINESS
www.opp.org.uk | JUNE 2012
Law changes in Turkey that will allow Russian and Middle-Eastern buyers to buy property directly have opened up a huge opportunity for professionals in the area. OPP asks the Turkish Property Centre how it is preparing for this new market.
the Turkish overseas property market because the Turkish economy is going from strength to strength because of the interest from new international investment and the stability of the political climate,” he says. “The Turkish Government has concentrated on growing a strong economy and has pushed to reimburse the International Monetary Fund for past loans and is in sight of clearing these loans in
full.This will free up monies for more investment in the infrastructure of Turkey and this will in turn lead to more international Investment. Turkey will attract both investment from international companies and private buyers. Away form the economy, Tactlici also believes Turkey’s other indicators give cause to be positive. “At the moment the prices overall here in Turkey are favourable to international buyers compared to other areas in Europe and we believe interest from new international markets may well push prices up in certain areas.” Despite this, Tactlici acknowledges that with economic crisis gripping much of the continent, problems may lie ahead for some of the key buyer markets. However, he sees as much of an opportunity as a business threat. “We are aware that with the
slowing down of interest from the European market because of the economic problems there that we need to replace this with investment from new emerging markets,” he says. “Now that Turkey has opened the possibility of investment from the Middle East and the GCC countries we feel that it is important for our company to remain at the forefront of our industry by attracting interest from these nationalities. What steps is the company taking to
take advantage of this opportunity? “We are in contact with several reputable estate agents based in the Middle East with the aim of working in collaboration together,” he says. “At the moment we are in discussions to enter into a partnership with a Middle Eastern company to construct a new project in the Bodrum area. We are also planning to take part in future international property exhibitions in the Gulf states.”
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