Tunisia
Tunisia is tipped as the country to watch as the potential new property hot spot of the Middle East and North Africa region. Many investors are looking at Tunisia as the new Dubai.
The factors that make Tunisia such a good investment prospect and the latest property hotspot include:
Properties from only €30,500
Predicted capital growth in excess of 40% per year.
Fantastic rental yields from 12% - 22% per year.
Guaranteed Minimum Rental Income of 6%.
Mediterranean Beaches.
Nearby golf courses.
Easy access to international airports.
Well established tourist destination..
Prices in Morocco have tripled in just 4 years, property experts are tipping Tunisia to outperform Morocco.
Tunisia Inward Investment
The largest developers from Dubai have recently started to invest very heavily into Tunisia, realising the stability of the region and the proximity to Europe making Tunisia an ideal link between Africa, Middle East and Europe.
In the capital Tunis, they are currently investing over $10bn in projects such as Tunis Financial centre and Tunis Sports City based on the popular concepts from Dubai itself.
Further south, they are investing $2bn in a picturesque coastal region creating an artificial marina, a world class golf course, exclusive residential properties and a number of luxury 5-star hotels.
It isn’t only the Dubai groups who have stood up and taken notice of what is happening in the country. Many large European organisations and banks have set up bases in Tunisia benefiting from a highly educated work force and a very stable economy whilst the government welcomes them with open arms providing excellent incentives encouraging them to move to the country.
Tunisia - the new Dubai?
Dubai had become renowned for the quality of life it offers to expatriates, with real estate investment rocketing in recent years. However, this year, International Living ranked Tunisia highest in the Arab region in their 2009 Quality of Life Index, awarding Tunisia 11 points more than the UAE.
Moreover, similar to the hype that surrounded the building of the man-made Palm Islands in Dubai, Tunisia is attracting comparable attention as it is expected to host the tallest tower in Africa in its man-made 'Mediterranean Gate' — a new town just south of Tunis, being built at a cost of $25 billion.
Whilst Bloomberg estimates that foreign direct investment (FDI) in emerging markets fell by 10 percent in 2008, Tunisia boasted a 38 percent increase in FDI on the previous year. The reason for Tunisia's success may be on the back of its tourism industry, which has steadily grown in recent years.
This is another major parallel between Dubai and Tunisia; unlike other emirates, Dubai did not have as much oil and gas resources. Similarly, Tunisia also lacks such natural resources and has therefore built its economy primarily through foreign-led investment.
Tunisian Economy
Tunisia is one of the most stable countries in the Arab speaking world, and certainly the most politically and economically stable country in all of Africa.
Tunisia is a founding member of the World Trade Organisation and has a trade association agreement with the EU. The Tunisian people have strong links to Europe and consider themselves to be more European in nature than African or Middle Eastern.
A stable currency and consistently low inflation levels below 3% have helped to place Tunisia in a great position to benefit from direct foreign investment which is currently pouring into the country.
Tunisian Property Market
So why hasn’t the property market yet taken off in Tunisia? Well, until very recently, foreigners were not allowed to buy property in Tunisia as the government wanted to ensure that home ownership for the local market was made affordable.
With local home ownership currently in over 80%, higher than in the UK and most other EU countries, they have certainly achieved that target and now believe that Tunisia is ready to benefit from the explosive foreign-property ownership boom that many of its northern European neighbours have done extremely well from in recent years.
For the foreign investor this is great news as it means that there is a strong local market in place when they need to realise their investments and sell their properties. At the moment, foreigners still require authorisation from the Governor of the region in which they are buying the property, however for most this is simply a formality which takes approximately 3 months to complete.
With so many excellent reasons to buy in Tunisia, the timing could not be any better to benefit from this new and exciting market on the door step of Europe!
Tunisian Properties
Property Matters Overseas is currently establishing our property portfolio in Tunisia.
Our first Tunisian development is the luxury Dunes Golf & Spa Resort, which is situated on Tunisia’s "Gold Coast", within easy reach of its most exclusive resort, Port El Kantaoui.
The Dunes Golf & Spa Resort is a beachside development situated conveniently between two of Tunisia’s busiest airports offering direct and inexpensive flights to major European cities.
The development itself comprises of studios, one, two and three bed apartments in a low rise setting in a prime residential area close to all facilities including a 36-hole golf course, marina and restaurants.
Property prices at the Dunes Golf & Spa resort start from just Euro30,500.
The Dunes Golf & Spa resort is directly located next to glorious white sandy beaches that stretch as far as the eye can see. World class Thalasso Spa facilities will be available on-site at the Dunes Golf & Spa Resort including an indoor swimming pool, Turkish baths, a sauna, gymnasium and beauty & massage treatment rooms with discounts for residents.
Further Information
Further information on our properties for sale at the Dunes Golf & Spa resort at Port El Kantaoui, Tunisia can be found on the Dunes page of this website.
Please Contact Us at Property Matters Overseas for further information, including the latest prices and availability, for the Dunes Golf & Spa resort, which could just be the perfect property in the latest property hotspot!
Property Matters Overseas has property for sale in Tunisia, Morocco and Egypt. Please get in touch with one of our friendly property consultants for further details or if you have any questions about buying property in Tunisi or in one of our other North Africa property destinations.
