Hello I am a TUnisian born american and live and go to school in the States, and i really wanna Buy a house or Apartment in TUnis but i hear they are far too expensive, it is worth to invest in a place and buy something ? and also what are the best areas to buy in ? i am from Silyanah. and thats all i know in tunis Silyana and the Capital.

just found this forum and I am very excited

you can buy an appartement in Sfax, the second city in tunisia.

Alway buy where you know and want to be that was if you do not make money youre still happy with the location.

An you have kind of answered you question since a guy living and working in one of the richest nations on earth cannot afford an appartment in a developing nation where if your on over 3000 dollars a month your doing well.

Your from the states so you just look in your newspaper, CNBC, bloomberg and you will see what is going to happen to the Tunisian market you had front row tickets to exactly the same situation.

At least your in the US where you can buy a forclosure rent it out and theh use the rent to subsidise a relaxing time in Tunisia.

The only people buying in Tunisia are the stupid rich and those with house already > taking the money out and >buying another one.

Niether of the above is a fundementally good reason for you to invest. The rents do not lie and yeilds are under 5%

Unfortunately you missed the boat prices have already gone up 150% in the last five years.

Keep your money and if your desperate buy a house in the US at forclosure my grandfather bought a house in florida 50% off its peak price.

And they are still falling so he is not as clever as he thought!

I would advice you to wait a little before bying,i think prices will go down in a few years maybe months.
But i you wanna buy right now,i suggest North of the Capital,it's a very safe placement ( Gamarth,Marsa,Carthage...) but houses aren't cheap.

I second that

Carthage is the only place I would consider buying as its one of the few "European standard" areas and is close to everything without being busy.

I have noticed the outragous prices in lac coming down I no longer see 1,600 a m2 much anymore and there are the odd bits of land 750-900 now.

Anyone outside Tunisia would naturally say these prices where insane still since your talkingover 200,000 dollars before you start the stress free proposition of building a house in Tunis.

nuts

Thankfully Tunis sports city has kind of put a lid on things 2350 a m2 is too expensive but quite rightly who wants a development next to the road when for that price you can be in the big daddy.

Just a quick question

Does anyone on this forum own their own house in Tunisia?

I am English on uk wages and its impossible in an area suitable.

I just do not know anyone under 40 with a house/apartment.

If you parents bought it for you it doesnt count!

Just interested to know

Just a quick question

Does anyone on this forum own their own house in Tunisia?

I am English on uk wages and its impossible in an area suitable.

I just do not know anyone under 40 with a house/apartment.

If you parents bought it for you it doesnt count!

Just interested to know

IN Tunisia ? well 80 % of the tunisian families owns their house/flat ( access to loans )

That maybe the case though i do not believe it.

I am 30 with 2 kids
My brother is 25 with a daughter

By that definition "family" does that mean if my parents own their house we are homeowners?

If the average salary os 300-600 dinars then being average makes it impossible to own a house.

it been 80% for about 5 years now and never changes regardless of the economy??

Tunisie – Comment expliquer la baisse des salaires ?

Le taux d'évolution des salaires est décroissant durant les trois dernières années. C’est du moins ce qu’indiquent les chiffres officiels de l'Institut national des statistiques (INS). Les salaires au premier trimestre de 2006 ont évolué de 2,07 % par rapport à ceux de la même période en 2005. Cette évolution a régressé à 1,11 % en comparant 2007 à 2006. Elle n'est plus que de 0,77 % en comparant 2008 à 2007. Les chiffres de l’INS suscitent d'autant plus d'interrogations que la majorité des salaires connaissent des hausses annuelles Quelles sont les raisons des glissements constatés ? Comment expliquer les déséquilibres qui en ont résulté ? Existe-t-il des secteurs d’activités plus touchés que d’autres ? Le degré et la nature de la formation et des diplômes entrent-ils en ligne de compte dans la répartition des salaires ?

Des révisions des conventions sectorielles passées entre les représentants des employeurs et ceux des employés, du secteur public comme du secteur privé, s’effectuent tous les trois ans. Elles accordent des augmentations de salaires d’environ 3,25 % durant les périodes inclues dans les statistiques.
Ces augmentations annuelles de 3,25 % (ou plus comme en 2009, selon les termes spécifiques des révisions) touchent près de deux millions d'employés : 650.000 dans la fonction publique et les entreprises publiques et près d'un million trois cent mille salariés dans le secteur privé. On peut conclure que les autres salaires n'ont pas suivi. Il s'agit soit des nouveaux recrutés ou des employés non agricoles et non concernés par les conventions collectives. Leur nombre s'élève à près de 600.000 employés.

Un aperçu sur les récents recrutements effectués dans l'industrie et les services, explique en partie ce glissement. Ainsi, un ingénieur diplômé (sans expérience) qui percevait comme premier salaire 600 dinars à la fin des années quatre-vingt-dix, n'en perçoit de nos jours que 400 dinars (l'indemnité de Stage d'Initiation à la Vie Professionnelle « SIVP » comprise).
On ne parle pas, bien sûr, des diplômés de quelques grandes écoles d'élite (ENSI et SUP COM) qui sont ciblés par des entreprises industrielles et partent généralement à l'étranger pour des études approfondies et des recherches pour l'industrie. A titre indicatif, l'allocation mensuelle pour un tel chercheur en herbe, est de 1800 Euros (3400 dinars).

Les salaires proposés aux nouveaux diplômés en gestion ou en économie (après le stage SIVP) ne dépassent pas de loin les indemnités qui leur étaient allouées lors de leur stage d’été. Plusieurs travaillent pour 300 dinars, voire moins. D'autres ne travaillent pas dans leurs domaines de formation et leurs salaires se limitent aux 250 dinars d’un SMIGARD en exerçant comme vendeurs, secrétaires ou agents d'accueil.
Ces différents emplois sont comptabilisés dans les statistiques et influent négativement sur le taux de croissance des salaires. Les employeurs se justifient certes par le savoir-faire limité de ces diplômés. Les employés considèrent que c’est mieux que de végéter au chômage.

Une telle situation indique clairement qu’il y a un déséquilibre entre l’offre et la demande sur le marché de l’emploi. Pour être plus précis, on peut y déceler les conséquences d'une inadéquation entre les besoins du marché de l’emploi et les profils des diplômés disponibles.
Les employeurs affirment qu’ils ne trouvent pas les diplômés assurant une plus-value évidente dès leur recrutement ce qui pourrait justifier une forte rétribution dès le premier jour de travail.

Quant aux diplômés, ils n’ont pas bénéficié d’une véritable immersion dans le monde du travail pouvant leur apporter le savoir-faire requis. Même les stages qu’ils ont suivis au cours de leurs études ne sont jamais élevés au stade d’un véritable apprentissage.
Seuls les diplômés dans quelques secteurs de pointe comme les TIC, la pétrochimie ou le génie mécanique, sont encore prisés et payés au prix fort. Les autres sont sous-payés en tant que diplômés du moment que leur plus est limité dans l'entreprise.

C'est donc le recul des salaires de la première embauche qui explique, parait-il, le recul du taux d'évolution des salaires. Lequel constat place l’administration devant un véritable dilemme.
Faudrait-il se taire devant une telle situation en se justifiant par le fait que l’employé n’est pas sous-payé du moment qu’il occupe un poste d’emploi inadéquat avec ses capacités académiques ?
Faudrait-il plutôt réprimander l’employeur au risque de barrer la route à ces alternatives de « sous-emplois » ?

Pleins de problématiques découlent de la réticence du marché de l’emploi en rapport avec la nature des diplômes délivrés par l’université. Laquelle réticence appelle à une concertation lors de la conception des diplômes. Une première solution a été proposée pour les licences appliquées co-construites. Trente licences sont déjà en chantier et le résultat satisfait, parait-il, tous les intervenants. Est-ce une alternative pour le niveau de salaires des nouveaux diplômés ? Seul l’avenir nous le dira…

Mounir Ben Mahmoud

Just a quick question

Does anyone on this forum own their own house in Tunisia?

I am English on uk wages and its impossible in an area suitable.

I just do not know anyone under 40 with a house/apartment.

If you parents bought it for you it doesnt count!

Just interested to know

Dear Kris,
Thanks for your input.
While It can be challenging to own a house in La Marsa, Lac, Gammarth, or Carthage, it does not mean that those who can afford it are stupid rich. I'm Tunisian, who live in Canada, 39 years old with two kids, I own properties and I have regularly invested in Tunisian real estate. I'm not stupid. My dad never helped me. It's my own initiative. I love my country. Like millions of expatriates who invest in their home country, it's no surprise even if yields are around 5%.
Please do not make judgments based only on your situation or experience because you might have missed the boat since prices are gone way up.
Although Tunisian real estate is starting to feel some saturation, and prices seem to be in disconnection from the purchasing power of the tunisian, it still got years ahead of growth potential as you'd be amazed by demand rise in the high end market. This trend is showing no slow. Just for your information, the only appartments that are sold first in the upscale projects are those of 400 000 TND and up ! That's reality, not bubble !
Yes, there's speculation that helped prices go up especially in land market but it's all about supply and demand. However, I agree with you that a tunisian family with median salary will spend the rest of its life paying for a 150 000 TND Ain Zaghouan appartment.

OK

Please do not make judgments based only on your situation or experience because you might have missed the boat since prices are gone way up.

Ok I put you in the perpetual price rise camp then:-) Also you work in Canada! Good call on investing if you bought in the last five years you should be laughing!

For example my little brother is a bit of a hotshot he hates Tunisia and always holidys in Mallorca, bahamas etc etc he gets paid over £130,000 (sadly a lot more than me :-( ) I know some forlks make more but these folks are statistically quite rare once you take "money made in property" out of the salary.

If you go to the world bank stats based http://www.globalrichlist.com (I know not scientific ;-) and enter that salary.

You are the 107,565 richest person in the world! You're in the TOP 0.001% richest people in the world!

Ok so he takes his 200,000 dinars (the chairman of paulina group gets 600,000) and drives his ferrari to the bank to buy a house.

4x200,000 = 800,000 dinars

This is medium price for Tunis (nice areas) now it may also get you a nice house (not the best) in Bizerte corniche.

After him the chairman of Paulina group (tunisias largest company) follows him and his 600,000 dinars x 4 gets him 2,400,000 dinars which although gets him a nice house this amount still means on Tunis-annonce.com right now there are 230+ houses that he cannot afford on this basic salary.

I know this logic is irrelivent and houses are going to double from this point and everyone is going to be able to give up working.

I am just trying to be the ying to the yang and its only an point of view.

There are not many places where you can ask Tunisians about the property market and since it makes no sense at all to me I ask them why it is like it is.

Anyhow I love Tunisia but I think its a property ponzi scheme destined to fall like every other place either via price falls or currency devaluation.

We shall see what happens maybe your right and Tunisia is different from Dubai, USA, UK, Spain, Ireland, Morocco etc etc, maybe I am and it is not.

Time will tell :-) I never say anyone is wrong I just want to provide another point of view.

I agree with you that a tunisian family with median salary will spend the rest of its life paying for a 150 000 TND Ain Zaghouan appartment.

The ATB bank tell me that their 150,000 dinars / 4 = 37,500 or 3125 dinars per month? is needed.

Is 1500 dinars the median salary? Or the Chap on 2000 and the wife on 1000

I suppose that is not impossible but pushing it however a couple like that probably professors or middle management would want a house.

This is probably why things are slowing since this logically is the limit of affordabilty they also have to get the 20 deposit before they buy which would be 30,000 dinars or one years after tax wages.

Who would buy that house if it was 250,000?

There're some points, Kris, that you should always consider when you talk about tunisian real estate: the country is small (compared to neighboring coutries like Algeria, Libya and Morrocco), land is scarce and especially in the hot spots, population (number) is growing, there's one million expatriate tunisians who invest heavily in their home country, these are billions of dollars injected. So demand is leaning toward the rise side and prices are unlikely to go down.
Also, cultural effect makes it for owning a house in a place that avearge won't be able to afford: distinction. And to not mix up there's a price for that.
I don't know anyone who got money and wants to invest it in Zahrouni, Denden, Manouba, cité ettadhamen, !!! You still can buy a house there for 100K but who cares !
Now, if you wanna stay in the Lake/Carthage side, you've got to put big money on the table. That's not gonna change and while some areas may not experience a high rise in property prices, don't expect prices to fall in other high end areas. The opposite effect will happen, prices in certain areas will certainly go up, guaranteed !

There're some points, Kris, that you should always consider when you talk about tunisian real estate: the country is small (compared to neighboring coutries like Algeria, Libya and Morrocco), land is scarce and especially in the hot spots, population (number) is growing, there's one million expatriate tunisians who invest heavily in their home country, these are billions of dollars injected. So demand is leaning toward the rise side and prices are unlikely to go down.
Also, cultural effect makes it for owning a house in a place that avearge won't be able to afford: distinction. And to not mix up there's a price for that.
I don't know anyone who got money and wants to invest it in Zahrouni, Denden, Manouba, cité ettadhamen, !!! You still can buy a house there for 100K but who cares !
Now, if you wanna stay in the Lake/Carthage side, you've got to put big money on the table. That's not gonna change and while some areas may not experience a high rise in property prices, don't expect prices to fall in other high end areas. The opposite effect will happen, prices in certain areas will certainly go up, guaranteed !

I will belive any of those reasons for high prices but not the scarcity of land there are only 10-12 million people in Tunisia and in the UK we have 60+ million in the simmillar geographic area. I have never seen cities with so many vacant lots of land as I have in Tunisia these last few years.

Tunisians love property that is for sure though I maintain its more to do with credit being cheap (lowest rates ever apparently) than some dramatic improvement. For that you need rising wages and at the moment wages are falling for many given globalisation saturation of graduates and the general economic crisis.

I guess we will see what plays out over the next few months.

KrisAziz Tunis is not London where the very highly paid traders are the richest people, in Tunisia the people who live in Carthage are mostly not wage earners but business owners. So there goes most of your arguments about wages. Besides if there was a bubble in Tunisia it would have burst already during the crisis but the price reflect well the market in Tunisia.

"Tunisia has some of the cheapest property in the Mediterranean region".Don't just take my word for it:
http://www.ft.com/cms/s/2/3ffd5ace-9d9e-11de-9f4a-00144feabdc0.html

One more thing, I think it would be wrong for Tunisia to aim for a low cost property market similar to our tourism industry (that I suspect you are hoping for) we need to aim high and attract rich people to buy property in Tunisia. Otherwise it won't be worth to have the coast all built up with cheaply sold apartments for people who will not be profitable to the country.

Good point nidzz !

KrisAziz Tunis is not London where the very highly paid traders are the richest people, in Tunisia the people who live in Carthage are mostly not wage earners but business owners. So there goes most of your arguments about wages. Besides if there was a bubble in Tunisia it would have burst already during the crisis but the price reflect well the market in Tunisia.

"Tunisia has some of the cheapest property in the Mediterranean region".Don't just take my word for it:
http://www.ft.com/cms/s/2/3ffd5ace-9d9e-11de-9f4a-00144feabdc0.html

One more thing, I think it would be wrong for Tunisia to aim for a low cost property market similar to our tourism industry (that I suspect you are hoping for) we need to aim high and attract rich people to buy property in Tunisia. Otherwise it won't be worth to have the coast all built up with cheaply sold apartments for people who will not be profitable to the country.

:applause:

Not to critique the FT but this is the house and home (ie lifestyle) section not the economics section.

FT Home > Arts & Leisure > House & Home

All those interviewed where somehow employed in the property sector sheep are not going to vote for eid are they? It would have been nice to see Tunisian economist in there or a university professor.

KrisAziz Tunis is not London where the very highly paid traders are the richest people, in Tunisia the people who live in Carthage are mostly not wage earners but business owners. So there goes most of your arguments about wages. Besides if there was a bubble in Tunisia it would have burst already during the crisis but the price reflect well the market in Tunisia.

I see what you are getting at but again wages from owning a business are still income you can say that about a few places but I am speaking overall also Carthage is just one place but you can find 1,000,000 dinar houses in all areas of Tunis.

You cannot dismiss a point of view based on reason with a remark like Tunis is not london.

London is not all traders my friend the GDP of London generates approximately 20% of the UK's GDP (or $446 billion in 2005)

Ie if it was a country it would turnover 10 times more than Tunisia as a whole.

However like london Tunisia has overpriced houses and like london these prices are set to come down ;-)

Additionally the prices have gone up 150% in a short period have wages gone up... no are companies doing better....some but not all....There is one thing that has changed via this amount and that is the cost of credit and liquidity yes that has dropped to 4.5%. It is no surprise that highest prices have come at the same time as the lowest rates.....ever!

I respect your points its nice that everyone feels that prices in Tunisia are going to keep going up and up.

I still maintain that 5%-10% is a good rental yield 8% + for a investor to be excited.

that means that 1,000,000 dinar house in menza, nasr, MVille, Carthage needs to rent out for over 4,000 dinars a month.

That flat in lac 280,000 1200 a month (which is at the limit but not too bad)

It not sour grapes or putting down Tunisia its just that I feel certain parts of Tunisia are very over valued and are in a speculative frenzy. This has slowed down over the last few months as you may have seen in some other articles recently.

http://www.north-africa.com/naj_economy/industries_markets/1fourteenmay09.html

Despite statements from industry officials that everything is moving on track, the Tunisian real estate sector is showing signs of considerable slowdown.

Although it is premature to speak of a collapse, the country’s housing sector is displaying signs of fatigue that many see a correlation with the global economic crisis, but we believe domestic supply and demand balance has shifted to the detriment of the supply side. If the slowing activity is proven to be a more resilient trend, it would mark the first time in 15 years that such phenomenon occurs. Continue here.

http://www.lesafriques.com/industries-et-services-/coup-de-froid-sur-le-marche-de-l-immobilier-tun-2.html?Itemid=308?articleid=13046

After more than fifteen years of uninterrupted growth, the housing market in Tunisia is being returned. Les prix étaient devenus totalement déraisonnables. Prices had become completely unreasonable.

(...) L 'économie tunisienne a connu fin 2008 et connaîtra en 2009, un ralentissement économique pour ne pas dire une crise , avec la baisse de la croissance de 6% en 2008 à 5% en 2009, et ce, selon les prévisions du gouvernement(...). (...) The Tunisian economy has seen the end of 2008 and in 2009 will experience a slowdown if not a crisis, with declining growth of 6% in 2008 to 5% in 2009, and this, according government projections (...).


www.tunisieaffaire.com (now offline)

L'économie tunisienne a connu fin 2008 et connaîtra en 2009, un ralentissement économique pour ne pas dire une crise, avec la baisse de la croissance de 6% en 2008 à 5% en 2009, et ce, selon les prévisions du gouvernement(...).

On note le ralentissement du marché de l'immobilier, avec un taux d'invendue de 12% pour les constructions neuves selon un rapport interne de la BCT et une baisse du prix du neuf, à titre d'exemple dans le nouveau quartier d'Ennasr, on a enregistré selon les agences immobilières, une baisse du 10% du prix du mètre carré neuf en l'année 2008.

Certaines agences contactées par TA affirment avoir perdu jusqu'à 15% de leur chiffre d'affaire en 2008 sur les transactions immobilières, signe d'un marché saturé et en berne. De même le prix des loyers a stagné en 2008, avec une tendance à la baisse dans certains quartiers.

Ce n'est pas une crise comparable à celle observée dans les pays de l'ODCE, mais elle est conséquente du ralentissement économique, de l'endettement des ménages, de la saturation du marché de l'immobilier, où l'offre est très abondante et 80% des familles tunisiennes possèdent leur propre logement, l'augmentation du prix des terrains et celui du mètre carre bâtit, à un niveau qui s'approche de celui de l'Europe.

Enfin, l'accès au crédit logement devient difficile, en effet, le leasing immobilier n'accorde plus que 70% du prix d'un bien neuf, alors jusqu'à 2006, les compagnies accordent 100% du prix d'achat sous forme de loyer.
Les banques commerciales exigent de plus de garanties, ce qui est tout à fait normal, mais le véritable problème, c'est l'écart entre le crédit accordé, au maximum 80.000 DT pour un logement neuf et pour un cadre moyen et les prix réellement pratiqués par les promoteurs qui oscillent entre 120.000 DT et 250.000 pour un appartement neuf.

Le prix de l'immobilier, les conditions du crédit, ne correspondent plus au niveau de vie du tunisien, ni à l'évolution de ses revenus, dans le sens ou l'évolution du prix de l'immobilier a été en moyenne de 10 à 15% par an, lors qu'en même temps les revenus des salaries n'ont évolues qu'entre 4 et 8% en moyenne par an.


One more thing, I think it would be wrong for Tunisia to aim for a low cost property market similar to our tourism industry (that I suspect you are hoping for) we need to aim high and attract rich people to buy property in Tunisia. Otherwise it won't be worth to have the coast all built up with cheaply sold apartments for people who will not be profitable to the country.

ummm they are doing this anyway the cast is being destroyed as we speak with badly built developments as are the city centers of the main towns. For every beautiful building that tounsi or Kari posts there is more monstrocities that we do not see. Though they are selling them (or trying to for a lot of money).

that I suspect you are hoping for: I do not appreciate that its glib comment if you knew me you would never ever ever say that I beat the drum for Tunisia every day when somthing is good I say so. Please have a think what you said and find out what I do here in Tunisia. :). You will then say why does a guy who will make more out of foreign investors buying expensive houses in Tunisia than most people raise this point = principle.

Quality makes the price, not the price makes itself.

I am in no way putting Tunisia down I am just discussing that I feel prices in many areas a 30-50% too expensive compared to rents. This also undermines our goal of getting foreign investors en masse since why buy in Tunisia for more than spain? or Dubai

I really love that you discuss this and I love to hear other opions however nobdy yet has given me a financial reason why prices should be this high just the usual scarcity of land, everyone is so rich stuff that they said back home in the UK before it went pop.

Just before everyone relaxes and thinks we in Tunisia got of lightly in this recession quite a lot of people think we are going to have a two stage recession and this next stage will impact the mahgreb countries more than the first since we may get deflation (prices going down) or inflation (prices going up with high oil and interest rates) either of these scenarios kill real estate short to medium term.

I hope I am wrong but I do not think so.

Ah in case I forget Eidek Mabrouk!

My regards to everyone may your prayers be accepted, and your houses priced 30% less next ramadan.....Only joking ;-)

Aziz

Not to critique the FT but this is the house and home (ie lifestyle) section not the economics section.

I think you can trust the Financial Times to check their facts in all section before printing. I would trust it more than the North Africa Journal.

All those interviewed where somehow employed in the property sector sheep are not going to vote for eid are they? It would have been nice to see Tunisian economist in there or a university professor.

The journalist who wrote the article has no stakes in Tunisia’s real estate sector besides the numbers speak for themselves.


I see what you are getting at but again wages from owning a business are still income you can say that about a few places but I am speaking overall also Carthage is just one place but you can find 1,000,000 dinar houses in all areas of Tunis.

The wage statistics you use to do your calculation don't include income from owning a business. If you want to make money in Tunisia the best is to be a business owner or work in les profession liberales like independent doctors. Good luck getting statistics for these people as they won’t usually declare their full income but they do earn a lot and are by far the richest people in Tunisia. And the places you mention (menzah, MVille, Carthage, and lac) are where the richest people in Tunisia live of course it will be hard for someone with wage(salary) to buy there.


You cannot dismiss a point of view based on reason with a remark like Tunis is not london.

I could say the same about you comparing tunisia with the subprime mess in the us and uk. I don’t think we should compare London and Tunis as they have very different real estate markets that was my point.


I still maintain that 5%-10% is a good rental yield 8% + for a investor to be excited.

that means that 1,000,000 dinar house in menza, nasr, MVille, Carthage needs to rent out for over 4,000 dinars a month.

That flat in lac 280,000 1200 a month (which is at the limit but not too bad).

Rent is just one indicator of the value of a house and you still have to factor in the culture which in Tunisia pushes people to buy houses even if renting might be cheaper in the long run. The government has also been encouraging people to buy houses rather than rent. All this explains the low rent yield.

ummm they are doing this anyway the cast is being destroyed as we speak with badly built developments as are the city centers of the main towns. For every beautiful building that tounsi or Kari posts there is more monstrocities that we do not see. Though they are selling them (or trying to for a lot of money).

Quality makes the price, not the price makes itself.



What you are saying is unfortunately true but if they don’t manage to sell these monstrosities It will be because they are… monstrosities not because there is something wrong with the Tunisian real estate market. Tunisia has been building as many buildings as possible in recent years and they will need time to shift gears and focus more on quality but I do see some improvements when looking at TSC for example.

Just before everyone relaxes and thinks we in Tunisia got of lightly in this recession quite a lot of people think we are going to have a two stage recession and this next stage will impact the mahgreb countries more than the first since we may get deflation (prices going down) or inflation (prices going up with high oil and interest rates) either of these scenarios kill real estate short to medium term.

Tunisia has had a dip in growth (because of manufacturing and export nothing to do with real estate) and we are on the way out http://af.reuters.com/article/investingNews/idAFJOE58G0IO20090917 the sources you provide are from the spring when it was fashionable to be pessimist, since then the world and Tunisia’s economy are getting better.

Eidek mabrouk!

You still not providing me with anything that persuades me since unfortunately "lots of rich people" is not going to cut it with me.

Is the economy doing well so that property is going to rise more... same if not a little worse.

Are foriegners gagging for foreign property at the moment.... no

since then the world and Tunisia’s economy are getting better.

If you say so personaly i just looks to me that rich coutries are just going into debt and spending it trying to "stimulate" their economies the gold price and VIX tell you that many feel this is risky and maybe will result in inflation. outside Tunisia we are all worried as hell.

Personally I will be extatic if Tunisia gets through this unaffected.

It would be good if Tunisia had some form of real estate survey/transaction information that way we could really see what is going on.

Thanks for the posts though I really enjoy seeing peoples point of view on this.

You still not providing me with anything that persuades me since unfortunately "lots of rich people" is not going to cut it with me.

Is the economy doing well so that property is going to rise more... same if not a little worse.

Are foriegners gagging for foreign property at the moment.... no

since then the world and Tunisia’s economy are getting better.

If you say so personaly i just looks to me that rich coutries are just going into debt and spending it trying to "stimulate" their economies the gold price and VIX tell you that many feel this is risky and maybe will result in inflation. outside Tunisia we are all worried as hell.

Personally I will be extatic if Tunisia gets through this unaffected.

It would be good if Tunisia had some form of real estate survey/transaction information that way we could really see what is going on.

Thanks for the posts though I really enjoy seeing peoples point of view on this.

I'm not going to argue with you whether the world economy is getting better or not. But for me 3-3.5 growth in 2009 and more if the world economy gets better are very good numbers for Tunisia. Tunisia would have had 6 percent this year if it was not for the global crisis so it is not unscratched from the crisis but it doing much better than other.

From your post I can see you believe there are no reasons for foreigners to pay the prices on the Tunisian market well here are a few reason:
- It's no secret that location is very important in the price of a house. Well Tunisia is fortunate to have 1300km of Mediterranean coastline(that is more than Algeria) and in case you haven't noticed the Mediterranean coast is one of the best places in the world to own property and there is a shortage of land around the Mediterranean in every country with an open real estate market. For me there is no question that land on the coast is precious in Tunisia and worth the price with 40% of the country a desert and most of the pressure is on the coast.
- Nice climate: yes the Mediterranean climate is very nice and most people find it pleasant. But that's not the only advantage just ask some of the people who own property in miami how much they pay for insurance against hurricanes.
- health care: I think this is one of our best advantages. There is a huge number old/retired people who want to get property in a hot climate country. If you are old you will want to live in a country which offers top notch health care it's a matter of life and death. Well in Tunisia we have great health care people from all over the world come to Tunisia to get health care the British NHS sends people to Tunisia to get their operations. Even the Japanese are investing in Tunisia's health care http://www.imtjonline.com/news/?EntryId82=157571
- great infrastructure not just talking about roads and airports I'm also talking leisure infrastructure (marinas,golfs, casinos etc...)
- closeness to Europe: Tunisia is 2hours from the major European cities you can spend your weekend in Tunisia that is not the case if you buy some property in a remote island where you need 7 hrs just to get there.
- cheap cost of living Tunis is one of the cheapest cities in the world. According to Mercer Tunis comes at 133 our 143 cities surveyed worldwide in 2008
(http://media.ft.com/cms/cbc3d7ca-5990-11dd-90f8-000077b07658.pdf) everyone wants to live in a cheap city and will spend more to buy the property if they can recoup their costs with cheaper cost of living.
- low crime and stability
- touristic country in Tunisia we have a variety of landscape from desert, beaches, forests, roman ruins, arab medinas, and colonial towns lot to do and see in Tunisia

This list is not exhaustive I am sure there are more reason. It is good to have a dissenting view from time to time but whether you believe it or not the Tunisian real estate market is rock solid and a house in Tunisia has a lot of value.

When we talk about boots, we should not ignore the popular brand UGG Classic Mini (http://www.ugg-boots-saleuk.com/ugg-classic-mini-5854-c-10.html). Its boots are luxury, comfort and high quality, only the finest materials are used in the construction-the highest quality leathers and the world's finest sheepskin.

interesting

Hi All,

Everyone still think real estate in Tunisia is going up since this thread there has been a revolution, even worse economic crisis and the economy inside Tunisia is getting worse and worse which is pretty much like most other countries.

I was looking for an office in Tunis the other month loads of empty offices and apartments but the prices are still high some even asking xx,xxx fc + a high rent.

Not saying I was right in this thread but all the projects have mostly been paused and I dont see much chance of this property boom going on and on now many of the banks have issues themselves.

- low crime and stability

Contrary to some points of view on this forum the economy in Tunisia was evidently so bad that the Tunisian people decided to have a revolution long term god willing this will improve things but short and medium term your not ging to buy an expensive house when there is another election soon and life is not 100 percent settled.

I would actually say that Tunisia's property prices are holding the economy back in some cases.

Probably the only place that looks logical is the USA or maybe Dubai now they have gone through the necessary reductions in prices.

France is even starting to fall apparently a bit outside top parts of Paris so maybe this will effect Tunisian real estate.

Just come back from Tunisia and real estate seems to be the only game in town.

Business for most people seems to be worse however the number of times i am told a house is better than a business is really worrying a good business should always be better than a nice house as one provides a living.

Prices seem to be going up in dinars but going up less then the dinar has gone down so it looks like inflation is the governments way of dealing with things.

Surely the poor wont have to bail out the economy with inflation to save 20,000+ empty properties in Tunis and the banks that lent on them?

Hmm. Description. Low. Don. "t . :D