Buying property

Kris

Administrator
Staff member
You say that but you do not get nasty estate agents on one hand and people ripped off on the other.

There is a classified section and advertising for companies who wish to pay for it.

We need to draw a line between recommendations and fake ones by companies who do not want to pay for advertising.
 

Tunisianbelle

Well-Known Member
just wondering how much a basic 3 bed house with garden costs in monastir area as me and my man are thinking of buying in that area not for a while but i like a rough idea on how much properties are

Price depends on LOTS of things. From what I understand, you want to buy a house that has already been built, vs buying land and building your own house, correct?

Some things that will influence prices:
  • What part of the city you are looking to buy in - Skanes and Agba are the more expensive neighborhoods, while R6 and Bassetime are on the lower price end.
  • The closer to the Sea you are, the higher the price will be.
  • How big do you want the house/rooms to be? I have seen some 3 bedroom houses that have very small rooms and are no bigger surface wise than a 2 bedroom, and I have seen 3 bedroom houses that are absolutely HUGE and look like they can fit 5 bedrooms. The size of the house will factor in the price.
  • What amenities do you want your house to have? The more you have, the higher the cost. The three most common amenities are:
  1. Gaz du ville (gaz is automatically brought into the house through piping instead of you needing to purchase it from a bottle)
  2. Central Heating
  3. Air Conditioning (Central or otherwise)


The prices will vary greatly depending on exactly what it is you want. And you should know that prices in Monastir are rising, so prices today will not be the same as prices in 5 years. My husband and I bought an apartment 3½ years ago and it has almost completely doubled in price (a few of our neighbors have moved this year and ALL have gotten just shy of double what they bought it for).

I would say that you should expect to pay anywhere from 130,000dinars all the way up to 300,000dianars.

There is a pretty nice house that just sold close to us - 3 bedroom, electric controlled garage, central heating, air conditioning, nice medium sized garden, etc. Not sure on exactly how big it is though (not huge, but not small) and he got 285,000dinars for it.
 

Kris

Administrator
Staff member
My husband and I bought an apartment 3½ years ago and it has almost completely doubled in price (a few of our neighbors have moved this year and ALL have gotten just shy of double what they bought it for).

Got to love easy credit I bet wages in Monastir have not doubledRent a house first where you want to be... then if you find a house where your mortage payments are cheaper than rental.

If not just rent prices are just to high if wages are the same (or reducing in many cases) and property doubles its the banks making lending easier.

We are just out of the first part of the recession we are now going to get the good part where we have to pay for papering over the first part.

If thats the right time to buy a house in a developing nation (abeit one I love) after 100% price increases I am a monkeys uncle.

I call it the "Northern Ireland effect" rember how the UK prices where so high in London and England and NI was cheap and then woosh!

29 Apr 2006 ... Prices in Northern Ireland are on average 9.1 per cent higher than
21 Dec 2006 ... Northern Ireland house prices are rising by almost a third every year

then
Dec 2008......Northern Ireland house prices have fallen by 27% in 9 months.
Northern Ireland house buyers trapped after property price collapse
24 Feb 2009 ... The region, which until recently had the fastest growing prices in the UK, saw house prices fall 28% in 2008

What happens you see is that firstly the best places go up like Northern Tunis, then tunis.

After this the speculator cannot find a place for a reasonable amount/rent so they move on to the next area Bizerte/Sousse/Monastir etc

Overnight it feels prices double for no reason seemingly.

This was the case in Northern Ireland which was poorer and had higher unemployment than much of the UK the money came and woosh!

Unless your getting over 8% rent to price return there is no reason to invest in a property at this moment in time.

Prices may go up but this is not a good reason since you can rent. If prices double again what good is a house in Monastir which is more expensive than a house in Spain? When I go to monastir I can stay half board in a hotel for near the cost of staying at home!

low rates mean times are bad it means we (central bankers) will have more tax from cars and property because the real economy is down the bog.

It may not happen today it may not happen for months but it will happen either price falls or a dinar devaluation which is the same for a foreigner either way. (imagine your a foriegner with a house in the UK 25% down in price and 20% down in pounds!!)

Essem and Tunisian Belle got in there at the right time if you hunt about you can find articles that show the property market in Tunisia is stagnating.

November 24, 2008

La chute de prix de l'immobilier en Tunisie​
The fall in property prices in Tunisia


source: Tunisie Affaires
Source: Tunisia Business


Finally, we note the slowing housing market, with a rate of 12% unsold for new construction as an internal report of the BCT and lower the price of nine, for example in the new district of Ennasr was recorded by real estate agencies, a decrease of 10% of the price per square foot nine in 2008.


Chill on the housing market Tunisian
After more than fifteen years of uninterrupted growth, the housing market in Tunisia is being returned. Prices had become completely unreasonable.


"We're not on the path to a real estate crash.
"
By Walid Kefi, Tunisia


The flashing red quickly pass on the real estate market in Tunisia.
For more than three months, professionals talk about a wait of households and limited cancellation of real estate transactions, but refuse to recognize a decline in activity.


A recent report by the Central Bank of Tunisia (BCT) has denied that optimism front.
This report suggests a "slowdown proved" the real estate market during the last quarter of 2008. It also refers to a price decline of 10% and a rate slumps in sales of 12% for new construction throughout. Many thousands of unsold homes have thus added to the 200 000 homes already empty, the housing having Tunisia reached the end of 2007 some 2.5 million homes to 2.3 million households only, according to data from the Chambre Syndicale developers attached to the Tunisian Union of Industry, Commerce and Handicrafts ( UTICA), the Tunisian employers.


The slowdown mainly on coastal areas, where higher prices were around 15% over the last fifteen years, nearly double the national average.
In the new posh Tunis Ennasr as the City or the Berges du Lac, professionals showed decreases situated around 15% of the price per square foot finish in the ninth since last November.



Between October and December housing starts fell 18% over the same period of 2007, according to estimates from the promoters.




Even more telling sign of incipient slump: the UAE group Damac Properties has announced the end of November to freeze its plans to build a residential and tourist area of high standing in Korbous in the east.


Several thousands of unsold homes have thus added to the 200 000 homes already empty, the housing Tunisian who reached the end of 2007 some 2.5 million homes to 2.3 million households only.


"Most agencies have seen their sales decline 15% in 2008 as a result of declining sales in recent months," says Chokri Keske, union president of real estate agents. Even agencies that focus Foreigners have not been spared. "My Estate Villa" specializing in this segment in the tourist region of Cap Bon (North East) recorded during the last three months of the year, a fall of nearly 50 % of the volume of transactions compared with the same period of 2007.
Optimisme indécrottable​
Incorrigible optimism


The downturn in the housing market comes after a period of phenomenal growth that lasted fifteen years.
Between 1993 and 2007, prices have increased 120%.



"After this long period of overheating, a market correction was essential, especially painful as distortion between prices and purchasing power of households was apparent for several years," said a proponent.



Same story with Moncef Kooli, union president of the promoters' financial standing of households was significantly reduced as a result of an insane price increase despite the lengthening of the repayment period of loans and reduction requirements of personal contributions.

"We're not on the path to a real estate crash.
The market correction will help restore the purchasing power of individuals wishing to become homeowners, "says union president of real estate agents.


It is also necessary that the banks do not shake too much credit tap.


Slowing Headwinds in Tunisian Real Estate Sector, Opportunities Elsewhere in the Maghreb

13 May, 2009 12:31:00 The North Africa Journal
Font size:
Construction site in North Africa
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.
 

janette b

Well-Known Member
pevert....i have asked a mod to delete pics..
 

ROULLA

Registered User
Hi Janette briki hope that you and your family are all in good health! Sorry i am confused am i missing something here...?
 

janette b

Well-Known Member
Hi Janette briki hope that you and your family are all in good health! Sorry i am confused am i missing something here...?

there were a few pics on here which i asked mezoo to remove as they were quite explicit and def put on by some kind of pervert who likes blue movie type images.....if you know what i mean. some people would find them offensive, but they have gone thankfully.
 

ROULLA

Registered User
there were a few pics on here which i asked mezoo to remove as they were quite explicit and def put on by some kind of pervert who likes blue movie type images.....if you know what i mean. some people would find them offensive, but they have gone thankfully.

Oh okay i see, the person who put them on was obviously on the wrong site as we don't have that of thing on here....Glad that they are gone.....
Take care
 

aliyah

New Member
If you have the property details (lot number, location ...) you can get the owner name
If you wanna the reverse operation, sorry you need to be the person concerned to know it (unless you have contacts :rolleyes: )

Nice to know....Do you have any CONTACTS...;););)
 

kairi

New Member
I think it is not a good time to buy....inflation+bubble is the state of market...It is seller market.
 

Kris

Administrator
Staff member
I agree :)

Infact I would go as far as saying in many markets the banks have suddenly lost so much money they are holding repossed developments to manipulate the price.

Just imagine how wonderful life would be for Tunisians on 600 dinars a month if they did not have to pay 250-400 dinars rent.
 
does anyone have the address of the Governor of Sfax.We have most of the paperwork but would like to write to him.Our Solicitor is according to our friend in Kerkennah quite lazy and needs to be prodded sometimes.
Thanks
 

Kris

Administrator
Staff member
hmm good luck with that I would get somone to put it in his hand as I would not wait for it to come back the guy must get 100's of letters.
 

rabah

Well-Known Member
I thought the article in the link below is very informative. It talks about the U.S.A housing market but most of the information applies to any place you may be looking to buy a home. Interestingly enough a lot of the info is very similar to what Kris has been talking about.

http://patrick.net/housing/crash.html
 

emma

Member
Happy new year to you all! My husband and I both live in UK and we are talking about buying a house in Bizerte. Whilst we were there in november my husband went to the bank with his father to get info bout mortgages. They told him that only he would be able to do this as its for Tunisians only. Is this correct?
Thanks ,emma x
 

Essem

Moderator
Staff member
Hi Emma

Is your husband Tunisian and has he been told that the mortgage could only be in his name, not yours?? Or are you UK citizens wanting to buy in Tunisia with a mortgage?

The majority of British people I know who own property here have bought with money transferred from the UK. They've either had capital set aside or remortgages properties bak home to allow them to do it.
 

emma

Member
hi sorry I should have said ,my husband is Tunisian living here in uk and im a british citizen.He said it could only be in his name for this reason. cheersx
 

Essem

Moderator
Staff member
I'd imagine it probably is correct then but when either Kris or Nobody c ome on I'm surethey'll be able to add more info than I can on this one.

So if you want it in your name too, best to organise funds from UK side.

You have to think of the long term here. If it is the case that with a Tunisian mortgage it can only be in your hubby's name then you probably won't have any rights on the property should anything untoward happen - again I assume you will be contributing to a Tunisian mortgage should you decide to go down that route.

I know of one couple, she remortgaged her home in the UK to buy in Tunisia. she was told thast it could only be in his name (not true as it turns out!) and now they are no longer together, he has the Tn property all bought and paid for and she can't do much about it (still waiting to hear outcome).
 

FoxyRoxie89

Well-Known Member
I'd imagine it probably is correct then but when either Kris or Nobody c ome on I'm surethey'll be able to add more info than I can on this one.

So if you want it in your name too, best to organise funds from UK side.

You have to think of the long term here. If it is the case that with a Tunisian mortgage it can only be in your hubby's name then you probably won't have any rights on the property should anything untoward happen - again I assume you will be contributing to a Tunisian mortgage should you decide to go down that route.

I know of one couple, she remortgaged her home in the UK to buy in Tunisia. she was told thast it could only be in his name (not true as it turns out!) and now they are no longer together, he has the Tn property all bought and paid for and she can't do much about it (still waiting to hear outcome).


:( I hate hearing stories like this grr :mad:
 

emma

Member
Thanks Essem, thats so sad. Its not that I don't trust him but your so right you have to think of the future . Who knows what will happen? You read so many horror stories on t.com think its makes people more aware of thingsx
 

Essem

Moderator
Staff member
Absolutely Emma - always look at the big picture.

I know I sometimes sound cynical. I've seen and heard a lot of heartbreaking stories here many involving foreign women 'losing' large amounts of money. It's not only all about trust (!) but you have to be realistic. I'm not saying to create probelms before they arise but look into every possibility and get things the way you want them. Make sure you're future is secure - 'cos when it gets down to money and possessions, love goes out the window!

Tunisia.com has been a godsend for many - it is an awareness thing - people can take the info on board or not, but they can't ever say they didn't know!
 
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