Tunis Tunisia Real Estate
Interest in the Tunisian real estate sector is back, and foreign direct investment (FDI) in the market has almost reached the figures for the first ten months of 2012. Multi-million dollar mega-projects will put Tunisia on the property investment radar as prices are at their highest level in more than a decade. According to the Tunisian Real Estate Institute, Greater Tunis accounted for two-thirds of all residential projects in 2011, and the capital Tunis and its suburbs in 2012. A recent survey of over 1,000 Tunisians and foreign investors showed a marked increase in their willingness to invest in the real estate and tourism sectors of Tunis.
Tunis remains a primate city, home to 22.7% of the population and more than half of Tunisia's 1.2 million people. While the growth rate in Greater Tunis did not exceed 2%, the number of residential units in the capital Tunis and its suburbs grew faster than the national average of 2.5%.
The property development sector consists of over 3,500 private developers and prices are rising due to increased interest from international buyers, but local interest is also high. Chaabane told the OBG that the rise in property prices is also fuelling speculation about land and property. According to data from the Tunisian real estate agency, TND333,987 were sold in the first quarter of 2016, compared with T ND333,987 in 2015.
One reason is the relatively low property prices, partly due to the country's high investment in infrastructure and lack of competition from other countries.
A coastal apartment can be purchased for less than 50,000 euros, and investment properties in the city center start at 30,500 euros, while historic dar (equivalent to the Moroccan riad) can be had for as little as 15,600 euros or even 30,700 dollars. Foreign investors can buy apartments and houses in Tunisia for 10,800 to 40,400 euros, depending on the size of the property and its location in the country. The purchase of property in Tunisia for foreigners is subject to the prior approval of the local authorities of each region in which the property is located. Purchase of property by a foreign investor for a period of at least three years is subject to the approval of the Tunisian Central Bank and must not cause any loss of income.
Tunisia is struggling to reduce its real estate space, but it is still relatively inexpensive and has the potential for large capital gains. Tunisia meets all the criteria for a sound investment abroad and will offer investors an impressive return. Whether you are a foreign investor or a resident of the Middle East, North Africa or Europe, Tunisia is an ideal place to invest in real estate.
Modern Tunisia itself has developed an excellent infrastructure, with existing motorways and new ones running through the country from north to south. One of the largest projects in the pipeline is the Bukhatir Group, based in the United Arab Emirates, a multi-purpose project combining sports facilities with luxury apartments, putting Tunisia at the forefront of global sports and entertainment development in North Africa and the Middle East.
The Tunisian real estate market in particular has captured the imagination of wealthy Gulf investors. Houses, apartments and villas in Tunisia are still in order, and many international buyers are regular visitors, seeking out the country's high-quality real estate, luxury hotels and restaurants.
Ennasr has an average house price of 1,000 TNDD, and the square meter prices are rising to 800 TDDD (343 EURO) and 1200 TDDDD (515 EURO).
Trans-Tunisian gas pipeline, which transports gas from Algeria to Tunisia to Italy, and the Trans-Tunisian gas pipeline. Although there are now two main lenders for private mortgages, private banks have begun to penetrate the increasingly competitive real estate segment. The major leasing companies operating in Tunisia, such as Alfa Bank, Al-Qassim and BNP Paribas, provide the bulk of the financing for the construction of new residential projects in the country's capital.
Le Vollier is a residential project in the Mahdia region, one of the most famous resorts in Tunisia.
Several factors have led to urban sprawl in Greater Tunis, and land scarcity has become an important factor in the development of real estate projects. Sousse, 140 km south of Tunis, has a large number of adjacent fruit and olive groves, but there is a lack of suitable land for residential and commercial development in this part of the country. Real estate occupies a strategic position in Tunisia, as the landowner plays a role in creating specific markets.