Real estate professionals are unanimous. The market recovers, admittedly slowly for residential, but very strong for large projects. Major investments are popping up all over the country in major cities like Tunis, Hammamet, Sousse, Djerba and Tozeur. A former exiles banished the country under Ben Ali and who made his fortune in France, Italy or Spain, comeback and are banking on big luxury projects. Large foreign funds also bet on Tunisia "free": for example, the fund Qatari Diar has put on the table some $ 50 million (€ 35 million) for a five-star tourist project in the governorate of Tozeur (the the desert, Ed). Or the Swiss mega project launched by the investor Zanotelli Roland, head of Zanotelli AG. without forgetting the Libyans who come to put their money at home while their country is at war. In Tunis, they even upped the ante to 6000 dinars (about 3,000 euros) per square meter for well positioned commercial premises. Before these locations never exceeded 5,000 dinars (the equivalent of 2500 euros) .What is your outlook for the future?
For foreigners, how to buy in Tunisia in good conditions?
There are several rules to follow, they are not exhaustive. We must ensure that the land is registered: the best is to go through a lawyer (equivalent to notaries in France, Ed); If the vendor is a developer, require a bank guarantee for advances granted: if the seller goes bankrupt, or if deadlines are not met, the bank is obliged to reimburse the purchaser; The sales agreement must be drafted bya lawyer. You should also know that a foreigner who buys in Tunisia, unless it lives in the country, will receive authorization from the Central Bank of the country, which checks the penal situation of the particular buyer. However, it is delivered once the land registry is made. In other words, if a buyer is refused permission, he will have to leave the apartment. It will obviously reboursé.
Is the strong profitability if we hear it?
Let's say if you buy wisely, one can easily make 7, 8 or even 10% return for a rental investment. Despite the revolution, developers continue to sell projects without having to sell out. Over the last ten years, new price jumped half in some areas of Greater Tunis (Marsa, Berges du Lac, Ennasr) and in seaside towns like Hammamet and Sousse. Today, land prices are disconnected from the average standard of living of the population. The price per square meter will have a break now. In Tunis, it takes between 500 and 1,250 euros; Sousse is that prices have increased the most, it is nothing short of 800 euros per m²; Hammamet, plan in the 600 to 1000 euros, and in Djerba, within 500 euros. In general, French investors in 50,000 to 100,000 euros for new apartments.
How to be sure to rent once you have bought?
Exactly, that's the hardest part, especially when you are away. Investors often choose to offer the property for rental management. But the effectiveness is not guaranteed and it is what cools. I personally paid the price of this mistrust and this is why I partnered with Swixim, a Swiss company in real estate brokerage, which includes in its contracts a performance guarantee - if the property is not delivered, the insurance pays - and guaranteed to renvente - when an owner wants to sell, it has six months to do so, otherwise, it is the insurance that pays.