Renting/Buying Property in Tunisia

hayleyktat

New Member
#1
Hiya Everyone

I was looking for a few tips on renting or buying property in Tunisia. I am hoping to secure a rental property asap.

Would really like it if anyone could give me a few pointers.

Thank you :eek::eek:
 

MellieC

Well-Known Member
#2
hun have a look in the property section on here, and there are a few who have bought property here and who long term rent.

a variety of experiences you will find.

much depends on where you are thinking of ~

different places have different prices, different amenities.

another option is to buy land and build.

all take a lot of very careful planning and make sure you know your rights from a solicitor not from the donkeys, camels neighbours friends uncle!!

good luck
 

hayleyktat

New Member
#3
Thanks Mel

I will have a look. I know what you mean. Hubby wants to buy land and build, but i said to him where are we gonna live whilst its being built cos the in laws house is a bit small

Hayley :eek:
 

aljaye

Well-Known Member
#4
Hi Hayley
My advice would be to rent..I could tell you some nasty stories about buying and building and then things going wrong. plus remember you cant tajke cuirrency out of the country so if you buy in dinars and sell in dinars the money has to stay there end of as the papwers will be for TD transaction.
Please please before you buy anything get a good lawyer who speaks English and as Mel says find out the FACTS properly not by word of mouth. I know of someone who lost out big time through no fault of their own after buying even tho it was in tragic circumstances.
 

MellieC

Well-Known Member
#5
hey lobo, where are you? back in sunny wales?

you really need to get a better fone lol
 

MellieC

Well-Known Member
#6
Aljaye:

on the point about not being able to take Tnd OUT, IF you bring in a lump sum, declared, or transferred, I think you can "take it out" via transfer?

I am thinking if people buy a holiday apt for example, then want to sell it, you would be up **** creek if when sold you couldn't have your own money?

Or do you have to look for european/US/Canadian buyers who would be buying in £ $ or euro's?
 

Kris

Administrator
Staff member
#7
Always rent first Tunisia is not the UK and its not easy to just sell if you want to...it can take ages.

I recommend you buy when you know the area from living there ages. I would not consider property an arms length investment either if you rent it out you should be there.
 

aljaye

Well-Known Member
#8
Aljaye:

on the point about not being able to take Tnd OUT, IF you bring in a lump sum, declared, or transferred, I think you can "take it out" via transfer?

I am thinking if people buy a holiday apt for example, then want to sell it, you would be up **** creek if when sold you couldn't have your own money?

Or do you have to look for european/US/Canadian buyers who would be buying in £ $ or euro's?
Yes back..kept thinking must go and see Mel and was so busy working as well as washing floors and stuff I never did lol
Even if you are selling in an offshore currecny as Kris says the wheels of commerce in Tunisia are dead slow and it can take years for an investment to come back to the seller..just something I learned whilst there this time and of course the seperation of property regime applies to property owned BEFORE the marriage not after and Tune families like to get a look in on any proceedings as well it seems should things go wrong!
Buyer beware is a very valid point when in Tunisia!!
 

Essem

Moderator
Staff member
#9
Definitely rent before you buy.

If you buy make sure property in in your name. No reason why not.

When you buy make sure you receive a Fiche D'Investissement from your bank confirming that the monies were transferred in for house purchase (details of how to buy on main home page).

When you sell, you cannot sell before you find a buyer - then you apply for authorisation to sell, the buyer applies for authorisation to buy and both docs are submitted at the same time. I'm told that this is a quicker procedure than just applying for authorisation to buy - 5/6 months - we'll see as my apartment is up for sale - watch this space!

If you have transferred money in to buy and it's all been declared properly and legally, you can transfer any monies back out when you sell less a %age of tax due on the profit. Again watch this space.............
 

MellieC

Well-Known Member
#10
it is a space I will be watching with great interest!

and hoping all works out well in the end!
 

MellieC

Well-Known Member
#11
Yes back..kept thinking must go and see Mel and was so busy working as well as washing floors and stuff I never did lol
Even if you are selling in an offshore currecny as Kris says the wheels of commerce in Tunisia are dead slow and it can take years for an investment to come back to the seller..just something I learned whilst there this time and of course the seperation of property regime applies to property owned BEFORE the marriage not after and Tune families like to get a look in on any proceedings as well it seems should things go wrong!
Buyer beware is a very valid point when in Tunisia!![/quote]


BE VERY AWARE!

I think the famillies often like to have a looksee on the basis of whats in it for them?
not sure that the "before" regime even really holds up in fact, I think there are ways and means of making sure it doesnt, as a few women on here have found out, and they have had to do some pretty nifty legal shuffles to keep what is rightfully theirs!:eek:
 

Jenn1125

New Member
#12
We have a ton of land in Tunisia. Where are you looking to buy??
 

aljaye

Well-Known Member
#13
Yes back..kept thinking must go and see Mel and was so busy working as well as washing floors and stuff I never did lol
Even if you are selling in an offshore currecny as Kris says the wheels of commerce in Tunisia are dead slow and it can take years for an investment to come back to the seller..just something I learned whilst there this time and of course the seperation of property regime applies to property owned BEFORE the marriage not after and Tune families like to get a look in on any proceedings as well it seems should things go wrong!
Buyer beware is a very valid point when in Tunisia!![/quote]


BE VERY AWARE!

I think the famillies often like to have a looksee on the basis of whats in it for them?
not sure that the "before" regime even really holds up in fact, I think there are ways and means of making sure it doesnt, as a few women on here have found out, and they have had to do some pretty nifty legal shuffles to keep what is rightfully theirs!:eek:
Too true. I think -think mind you-if the land before the marriage (as in my case and many others) isnt in Tunisia it cant be touched..its also their way of protecting the families property from potential gold diggers. If its in Tunisia then its a totally different case

And even in the most genuine of relationships it seems that even if the husband dies early from unnatural causes the family are in like roaches seeing what they can have..they get theirs pretty quick..the European..well..how long is a piece of string!
 

MellieC

Well-Known Member
#14
Too true. I think -think mind you-if the land before the marriage (as in my case and many others) isnt in Tunisia it cant be touched..its also their way of protecting the families property from potential gold diggers. If its in Tunisia then its a totally different case

And even in the most genuine of relationships it seems that even if the husband dies early from unnatural causes the family are in like roaches seeing what they can have..they get theirs pretty quick..the European..well..how long is a piece of string!
we had this discussion about Pre-nups ~ they don't hold up in the UK very well, although there was the recent case ~ I can't recall what the outcome was in the discussion about Tunisia, however, maybe much would depend on what it says on the marriage contract, and i doubt that where the assets are or were has that much bearing, only on the possibility to fight for it through a UK court? As tunisia isn't a signatory to various agreements, some Tunisian legal documents may have no validity in the UK ~ but some have ~ so at some point someone will argue that its an all or nothing situation?
 

Essem

Moderator
Staff member
#15
Definitely rent before you buy.

If you buy make sure property in in your name. No reason why not.

When you buy make sure you receive a Fiche D'Investissement from your bank confirming that the monies were transferred in for house purchase (details of how to buy on main home page).

When you sell, you cannot sell before you find a buyer - then you apply for authorisation to sell, the buyer applies for authorisation to buy and both docs are submitted at the same time. I'm told that this is a quicker procedure than just applying for authorisation to buy - 5/6 months - we'll see as my apartment is up for sale - watch this space!

If you have transferred money in to buy and it's all been declared properly and legally, you can transfer any monies back out when you sell less a %age of tax due on the profit. Again watch this space.............
Were you watching this space from 4 years ago?

Well the percentage on the profit is not 5% or 10% as quoted on certain websites.

I'm told it's 25% but still to be checked out.

So, for example, on a profit on 100,000 dt you have to give the government 25,000dt. Ouch!
 

Essem

Moderator
Staff member
#16
And in the words of Bob Marley, 'No money, no keys'

I found myself singing this twice recently.

Do not give over keys until you have all monies due.

Many of the Tunisian buyers want to pay a deposit and then expect to have right of access.

Nooooooooooooooooooooooo.

No money, no keys...........................No money, no keys

You can tell from this that my selling experience is going well....................................
 

Scottochott

Well-Known Member
#17
Were you watching this space from 4 years ago?

Well the percentage on the profit is not 5% or 10% as quoted on certain websites.

I'm told it's 25% but still to be checked out.

So, for example, on a profit on 100,000 dt you have to give the government 25,000dt. Ouch!
Ouch indeed, though bear in mind this is set against uk capital gains tax which is 18/28% depending on your income. I was recently told that it is a different rate for residents and non-residents. Where is your info from? It is sooooo frustrating there trying to get accurate information, I suspect we can only be sure when we come to pay and get authorisation to move the money back to the uk!
 

Scottochott

Well-Known Member
#18
And in the words of Bob Marley, 'No money, no keys'

I found myself singing this twice recently.

Do not give over keys until you have all monies due.

Many of the Tunisian buyers want to pay a deposit and then expect to have right of access.

Nooooooooooooooooooooooo.

No money, no keys...........................No money, no keys

You can tell from this that my selling experience is going well....................................
What a nonsense, they're just trying it on! As we know when buying, we don't get the keys until we pay all monies due. Well done to hold out, if they want the keys they must pay all the money, end of!
 

Essem

Moderator
Staff member
#19
Ouch indeed, though bear in mind this is set against uk capital gains tax which is 18/28% depending on your income. I was recently told that it is a different rate for residents and non-residents. Where is your info from? It is sooooo frustrating there trying to get accurate information, I suspect we can only be sure when we come to pay and get authorisation to move the money back to the uk!
From the buyer, a financier, although lawyer checking it out.
 

Scottochott

Well-Known Member
#20
From the buyer, a financier, although lawyer checking it out.
I'm pretty sure the rate is different for Tunisians and foreigners, also residency may make a difference.
 
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