Buying property

Simon Diamond

New Member
#1
I'm interested in finding out the price range of houses which I could use as a holiday home to use myself andto rent out. I'm looking for property in Djerba, Sousse and Hamamet mainly. Also how would I go about buying a property, are there many solicitors andestate agents or is it a case of knowing someone who is selling a property?

Or an alternative is land available and what are the building regulations like, would it be difficult to get planning permission for afour bedroom house with pool. Are there many architects, builders and labourers available?

Is commercial property available often and how long would it take for a business to be setup and accepted in Tunisia.

Thanks

Simon Diamond
 

UKPhil

New Member
#2
RE: Buying property

Hi Simon,

we are currently buying a place in Tunisia. Like most places, prices have risen in recent years but Tunisia doesn't yet appear to be on the property radar for UK buyers in the same way as Morocco, Egypt, etc. Prices vary widely, and the "Zone Touristiques (ZT)" (tourist areas like Hammamet) are much pricier, but the legal process is easier. Our place is not in one of these zones, and consequently we have to submit a large portfolio of documents to the local Governors office, a comlex process which can take months or years.

We saw some appartments in Hammamet ZT, quite small 2 beds for about £50K. The new Marina at Yasmine Hammamet is probably the most expensive, around £60k fora studio appt! Move away from the Tourist zones and prices drop considerably, but ao does rentability if thats what you're after.

Estateagents are not as conspicuous as in the UK bit they do exist in places like Hammamet.Tunisians do not buy and sell houses all the timelike we do in the UK, they generally buildor inherit a house and never sell it.

The most important thing is toget a good lawyer (english speaking if you'renot fluent in Arabic or French). Get one by work of mouth or a list is available from the British Embassy in Tunis. They also have other info about setting up in business there.

Foreigners can also buy land, as long as its not farmland. Building cost are low compared with the UK but rising. Like anything else involving officialdom, I would expect the planning application process to take quite a long time, though if you dangle the carrot of bringing new business/employment into the local economy then that will probably help!

Information is generally quite hard to get hold of, you pretty much have to get on with it and be prepared to spend a lot of time in official offices, getting things stamped, getting them photocopied, translated, stamped again, etc. etc. They have inherited a lot of French officialdom :)

That's just a flavour based on our limited experiences, others may say different! Feel free to PM me if you have any questions...

cheers
Phil
 

Kris

Administrator
Staff member
#3
RE: Buying property

This is an area in which is going to become more popular as more foriegn investment comes into Tunisia. Really there is nothing Tunisia doesn't have that say Bulgaria (another emerging property hotspot) does.

However I must admit the wait for the paperwork/authorisation annoys me as i am always one who likes to get a good deal for a quick sale so when me and Hajer look for apartments later this year.

Many aspects of the property buying process in Tunisia a strange not least the practice of the agent charging a fee to both the seller and the buyer!!!

Once we have a selection of information i will create a section on the main site with a guide on the process of buying Tunisian property for non Tunisians.

I will also add information on opening up a Tunisian bank account as i am currently doing this at the moment.
 

Kris

Administrator
Staff member
#4
RE: Buying property

How about this new development?

Emaar Properties PJSC, the world’s number one property developer, has announced its plans to develop the AED 6.7 billion (US$1.88 billion; TND 2.54 billion) Marina Al Qussor project on Tunisia’s eastern coastline. The 442 hectare Marina development is located within the county of Sousse towards the southern end of the Golfe de Hammamet and will offer a mix of living options and tourist attractions with a large Marina Village at its centre.



At a special ceremony in the capital Tunis yesterday, Emaar Chairman Mohamed Ali Alabbar presented the high profile project to the Tunisian President Zine El Abidine Ben Ali. The project will add a premier tourist destination on the southern shores of the Mediterranean away from the hustle and bustle and yet be closely located to Tunisia’s key cultural sites for tourists to explore.



Speaking at the event Mr Alabbar said: “We are honoured to showcase Marina Al Qussor to Tunisia’s President Zine el Abidine Ben Ali today. Tunisia is a country rich in heritage and we look forward to the opportunity of adding to its world class attractions with the development of Marina Al Qussor. This project is a timely addition to Tunisia’s thriving tourism industry which has been attracting the world’s attention.â€

“Yesterday’s presentation sees us looking at other parts of North Africa for the development of our master planned communities and lifestyle options that have become synonymous with Emaar. With its thriving tourism industry, Tunisia is a significant market for Emaar to roll out such communities that offer everything from a thriving resort atmosphere to a quiet retreat,†said Mr Alabbar.



Emaar's Marina Al Qusoor development is in line with Tunisia's tourism policy which is currently focused on residence tourism which enables high end tourists to buy homes in areas with beautiful landscape for longer stays. The country attracted 6.4 million tourists in 2005 and is aiming for tourism revenue of close to US$2 billion in 2006.



The various components of Marina Al Qussor range from over 4,000 residential units with villas, townhouses and apartments located on the lakeside, beach, marina and quayside; six hotels ranging from luxury boutique to four star located on the beach and marina; leisure facilities with the marina, yacht club, beach clubs, spa resort, sports club, 18-hole golf course, clubhouse, driving range; and retail space located on the marina and quayside.



The development offers a series of ever changing environments ranging from natural lakes to golf landscapes and olive groves to the existing El Medfoun forest and sandy beaches. In contrast to these natural landscapes, the central marina village area will offer the ideal backdrop to the hustle and bustle of the resort centre. The village will become the heart of the resort with shops, restaurants and apartments surrounding the 400 berth marina that will support boats of all sizes including large private boats that cruise the Mediterranean.



The architectural character of the development is based on numerous distinctive traditional Tunisian elements from building techniques to styles and materials. Low rise buildings add to the charm of the site allowing uninhibited views across the development.





© 2006 Mena Report (www.menareport.com)
 

Simon Diamond

New Member
#5
RE: Buying property

This is something i am going to have to research much more. What worries me is that i wouldn't be in Tunisia for long periods of time so if things do take a long time i feel they would be multiplied by the amount of time i can spend in Tunisia due to work commitments, etc. Ideally having someone in Tunisia that i can talk to regulary that can do much of the paperwork for me.

I look forward to reading the section you are making about buying property in Tunisia kris.
 

UKPhil

New Member
#6
RE: Buying property

Apparently there has been a problem with foreigners buying in the recent past (outside the Zone Touristiques) as there was an incident where a large property in Nabeul was sold to a Libyan who outbid a local Tunisian family. This decision was highly controversial and caused future applications to be vetted by the Interior Ministry in Tunis and not just the local governorate.

However, latest info I have is that there is a project to streamline the process of foreigners buying property again, as this is seen as a way to bring money into the country. Apparently the rules have already been relaxed for the french. "long-term high-end tourism" or something like that...

Phil
 

Kris

Administrator
Staff member
#7
RE: Buying property

Hmm seems a funny situation a but then i understand as at the moment 80% of tunisians apparently have home ownership. I can understand how it is logical to gard against foreign investors pricing locals out of the market as happens in many areas.
 

Kris

Administrator
Staff member
#8
RE: Buying property

I am going back to tunisia the end of next month and i am going to defiantely look at some apartments.

There looks like a wide choice to buy in enasser as the whole place seems to be new. However I am having the thought in my head would paying a bit extra be worth it for say a one bed apartment in hammamet marina? (UKPHIL did you go around the apartments?) For the price you could almost have 2 city centre apartments in Tunis (in a good area) or a larger one in La Marsa and I guess there is always the question of the intensive attention that a holiday rental needs to be productive.

Hmm decisions decisions
 

UKPhil

New Member
#9
RE: Buying property

Didn't look arround the Marina appartments (don't think there were any completed), just popped in the sales office and saw the plans. Looked nice though. I'd stick to the Gulf of Hammamet area for investment/rental, especially with the various developments planned for that region.
 

Bigbrother

New Member
#10
RE: Buying property

Marina Al Qussor project
Has this project already started?

Thanks!
 

kdparker

New Member
#11
Hello to everyone.

I am loooking for advice on buying property in Tunisia for moving to. Any people from the UK done this? I am finding the internet not much use for this information and I can only assume that it would be a matter of visits to sort things out
 

Kris

Administrator
Staff member
#12
RE: Property buying in Tunisia

I am on the case on this one I am speaking with Tunisian property websites and also some firms of solicitors to try and get some defacto advice as it is a pain and get this in a detailed section on the site.

I am looking for a property also and as I progress I will post my findings.
 

kdparker

New Member
#13
RE: Property buying in Tunisia

Thanks for the reply.

I am due to visit/holiday in Tunisia in just over a weeks time. Hopefully I will be able to find more information regarding buying property there
 

Bigbrother

New Member
#14
RE: Property buying in Tunisia

I’ve researching this topic with the help of people from other sites relating to buying a property and the options are:

Buying:

Ø Buy land and build property

Ø Buy from a private person

Ø Buy from Property Developers / Real Estate Company : SNIT and SPROLS (don’t know what these abbreviations stand for – still trying to find out)

I have been advised that it can take up to about 5 weeks if the property is executed in the name of the Tunisian husband/wife, I guess depending if the whole process goes smoothly! If buying independently (foreigner) I’ve heard that it can take a very long time, a friend whose father is in the process of buying a property said it took nearly 3 years to sort of the paper work, doing all the checks etc. I don’t know the circumstances of this and if this was particularly unusual.

A foreigner can’t buy property before having an authorization/permission from the governor of the state 'gouvernorat' (local authority) which is were the delay lies.

When buying property/land I guess from a private person, it’s wise to check all the paperwork thoroughly to ensure that you actually own the Deeds and there aren’t any disputes relating to the property (free from dispute etc). Another thing that came to my attention from another site which may have been something that was happening a long time ago is when the couple divorce or partner passed away “the foreign lady got kicked out of the house by the relatives of the husbandâ€â€¦.)


Finances
Ø Housing Loan

Ø Banque d’habitat (Housing Bank)

Loans can be obtained from the above, not sure if loans can be obtained by non-locals. I’m still in the process of finding out more about the different loans/housing bank and down payment deposit, and whether it would be easier to get a loan there or here in the UK. I think it will probably be the former. I also want to find out whether theses loans are fixed or flexible, in other words is it possible to pay off a loan before the agreed time and the possible penalties. Also life insurance policies.

I would also like to find out about surveyor reports and things like that.

Once all this information is clear I’d be in a good position to know what I’m doing. We will be planning a number of visits to look at different and best areas to purchase a house.


It has been mentioned to me that in the Autumn/Winter, Hammamet and Yasmine Hammamet is like a ghost town, is this true. I thought it was full of tourist/visitors all year round? Any knowledge on this would be appreciated.

I have found that there isn’t a lot of information on the net, it’s a matter of joining discussion boards and asking questions from people who have much more knowledge.

To those people visiting Tunisia soon, please would you post any updates on the current property markets.

Thank you.


[/align]

Also, attaching some useful information about Hammamet. Does anyone know anything about the Hammamet Real-Estate Association? Can’t find anything on the net.


[link=http://www.global-financial-guide.de/calculate-real-estate.php?city=Hammamet]http://www.global-financial-guide.de/calculate-real-estate.php?city=Hammamet[/link]

Please make sure that modern equipments, such as electricity and water should function to the maximum. Please double-check and make sure electrical outlets are located in every room and functioning.

Make sure you turn on the water and make sure that hot and cold water is functioning and flush the toilet, turn on the shower. Don’t count
 

Kris

Administrator
Staff member
#15
RE: Property buying in Tunisia

I am still putting together my guide to purchasing a property in Tunisia and I am hoping that once I can tie up a deal with a large property website in Tunisia (September) I will be able to provided a clear reference to the subject.

I am also speaking to some reputable lawyers and have recieved the following information so far.

Tunis le 14 juillet 2006

Subject: Status of land purchasing by foreigners in Tunisia.


1. There are specific authorisations ruling the purchase of a property by foreigners. It is called the authorisation of the Governor ; for the area of Tunis, it is the Governor of Tunis.
2. When a foreigner has identified a property, there cannot be a deed of sale directly; a lawyer must be entrusted with the drafting of a promise of sale (you have the similar in Malta), and only a modest deposit can be paid to the Vendor. A complete dossier on the fiscal status of the property, and of the Vendor, as well as a legal file on the purchaser must be presented to the Governorate. This procedure might expect an authorization for about one year.
3. This deal must undergo specific steps for payment, since the foreigner will be paying in foreign exchange; only bank transfers from abroad are allowed and a specific account must be opened by the Buyer in Tunisia.
4. The acceptance is notified by a letter from the Governorate mailed to the beneficiary of the promise of Sale, i.e. the buyer. The references mentioned therein will have to be mentioned in the final deed.
5. All payments will then be authenticated by the bank: attestation bancaire, and this is for the protection of the buyer.
6. A new Act dated May 2005 has allowed some purchases of pieces of land in the industrial and touristic sectors to be finalized without this authorization, when the land is bought by a promoter (land developer).



Yours faithfuylly,


Hedia Kedadi

Solicitor

Me Hedia Kedadi (Ms)
3 bis, rue Kheireddine, Carthage Dermech (1ere rue à gauche après Monoprix, sens Byrsa)
Tel: +216 71 277 175
Fax: + 216 71 720 405
Mobile: +216 98 304 883
E-mail: [email protected]


AND

Q&A: Acquisition of property by foreigners

Can a foreigner acquire a real estate in Tunisia?

With the exception of agricultural lands, foreigners can buy properties in Tunisia as long as they comply with the local legal conditions.

What are the legal conditions to be complied with for acquisition of a real estate in Tunisia by overseas?

In general, acquisition of property by foreigners is subject to the prior authorization of the Governor where the property is located. For instance, such authorization is required for the acquisition of a house or a flat for private use.

However, further to a recent amendment of the Law, this authorization is no more required for the acquisition of land or premises located in industrial zones as well as for the acquisition of lands in tourism zones when the purpose of such acquisition is to make an economic project.

How to apply for the Governor’s authorization?

The applicant shall fill an application form and provide a formal commitment to sell (Promesse de vente) whereby identities of buyer and seller are mentioned and property accurately described.

An advance payment may be required by seller. The advance is not requested by law and is based on both parties convention. In that case, condition of restitution of part or totality of this advance in case the authorization is refused should be accurately described in the commitment. Moreover, as this advance payment will be made by transfer of foreign currency, this amount should be first deposited in a bank account called “compte d’attente†in order to comply with the Tunisian exchange regulations.

What are the legal formalities to be complied with after the Governor’s authorization is obtained?

After obtaining the Governor’s authorization, the final contract of sale can then be drafted, including references of this authorization. The totality or rema
 

Bigbrother

New Member
#16
RE: Property buying in Tunisia



FOR THE HIGH END OF THE MARKET
[link=http://www.viviun.com/search/handle?viviun_q=tunisia]http://www.viviun.com/search/handle?viviun_q=tunisia[/link][/align][/align]APARTMENTS IN PEK [/align][/align][link=http://www.bhammouda-kantaoui.com/]http://www.bhammouda-kantaoui.com/[/link][/align][/align]Don't know if these sites are Kosher! [/align][/align]Thanks for information, all of it very useful. I look forward to reading the information in September. Particularly interested in traditional properties(I think) with modern features, area/location TBC.[/align][/align]
[/align][/align]
 

Bigbrother

New Member
#17
RE: Property buying in Tunisia

Some site that someone passed on to me

[link=http://www.bab-el-web.com/]www.bab-el-web.com[/link]

[link=http://www.bourseimmo.com.tn/]www.bourseimmo.com.tn[/link]

[link=http://www.logement.com.tn/]www.logement.com.tn[/link]

[link=http://www.winoo.com/]www.winoo.com[/link]

Its been mentioned that Bab el web and Winoo are good for classified ads and the other two are developers.
 

Bigbrother

New Member
#18
RE: Property buying in Tunisia

[link=http://www.placeinthesun.co.uk/?p=105]Top Ten Pitfalls When Buying Property Abroad [/link]
Saturday June 10th 2006, 2:59 pm
Consumer group, Which?, has published a new book called Buying Property Abroad to help you buy a place in the sun without suffering legal and financial nightmares.
“The TV shows that have helped fuel our obsession with overseas property make buying abroad look easy,†says author of the book, Jeremy Davies. “But in reality finding, purchasing and owning overseas can be a time-consuming business, and turning a foreign property into a successful investment can be even more of a struggle.â€
The book aims to guide you through the legal, financial and practical aspects of living abroad whether you’re planning on fulfilling a long-held dream or making a hard-headed investment decision. It clearly explains how the buying process differs from the UK, covering contracts, searches, surveys and deeds. Mortgages, currency deals, taxes, fees and duties are also covered.
“Get all this right and you could have a wonderful new asset which gives you and your family enormous enjoyment over the years, and greater wealth in the long run. Get it wrong and you could be risking a good chunk of your future security on a pipe dream.â€
Here’s Which?’s Top Ten Pitfalls When Buying Property Abroad

1. Overstretching your finances

It’s easy to feel left out if you don’t have a fabulous second home somewhere. But don’t jump on the bandwagon unless you’re sure why youre doing it, and that you can afford it - especially if you’re securing it against your UK home.

2. Buying sight unseen

If you buy an overseas property without ever having seen it - and surprising numbers of people do - you’ve only got yourself to blame if it ends up being a disaster.
3. Buying without a lawyer
Lawyers may seem to make the process complicated, but the work they do is vital to protect your best interests - for example telling you whether the seller has the legal right to sell. Pay extra for one who speaks good English and is qualified in UK and foreign law.
4. Failing to check credentials
Is the seller really the property owner? Is your estate agent really a qualified agent, and are they bonded to hold a deposit on your behalf? What guarantees are there if the developer goes bust?
5. Putting down the deposit too early
Don’t assume that your deposit is returnable, even if it is described as a ‘reservation’ deposit. In most countries paying a deposit commits you to the purchase, so don’t hand over any money - even to a third party - unless you are sure you want to buy.
6. Choosing on the basis of price
It may be tempting to buy a property for the price of a second hand car, but perhaps the reason it’s so cheap is that nobody else wants it.
7. Ignoring the ongoing costs
Even if you hardly use it, keeping an overseas property ticking over costs money. Insurance, maintenance, property management fees, service charges and taxes all add up, so work all this out in advance.
8. Relying on budget airlines
Cheap flights have opened up huge tracts of Europe to property hunters, but don’t assume they will always be there. Ask yourself what would happen to your tourist rentals if routes to the little local airport disappeared.

9. Doing things on the cheap

If you want to avoid creating a white elephant, don’t cut corners when renovating. If you can’t afford the architects, surveyors and craftspeople to bring out your property’s potential, look for a different one.
10. Forgetting your heirs
If you want control over how your overseas property is dealt with on your death - and thus avoid the restrictive inheritance rules in place in many foreign countries - you need to make a will. You may even need to make two - one here, and one there.
[link=http://www.amazon.co.uk/exec/obidos/ASIN/0852029705/barnsetc-21][colo
 
M

mabroukhammami

Guest
#19
Hello to everyone.

I am loooking for advice on buying property in Tunisia for moving to. Any people from the UK done this? I am finding the internet not much use for this information and I can only assume that it would be a matter of visits to sort things out
Yes .i Owen a property in tunisia & Going for other one. AM tunisian & find hard on my first time.to know. All the document to be present to you & all other departemen to go to All documrent need to be Sing't &photo copy them.it's so bad .you will get to know somone how will try to help you, to have somone how live there it's a great help GOOD LOCK
 

Kris

Administrator
Staff member
#20
House prices seem to be the national opsession in the UK and I for one get the feeling that we are reaching the top of the market and apparently the US is having a house price crash.

From what I have seen prices for properties in Tunisia (especially the top end) have little to do with local wage levels and seem to be purchsed by Tunisians living abroad how are people seeing the market in Tunisia at the moment and is this market linked to France/Eu where ex pat Tunisians live?

Where do you think that prices will go in Tunisia this year and what places do you feel are the hot spots to look out for?
 
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