Buying property

[missmetal]

Don't forget Port El Kantaoui was built in 1979 and it was not all Tunisian money.

well you're lucky, because it must be worth a load of cash now. Is your brother married to a tunisian? is that why they are looking for something to invest in? When i was still living in the UK me and my girlfriends were considering investing. Glad i did not now because I would not be able to use it as often as they would. But sometimes I think it would be worth getting soemthing that could pay itself off as a summer rentals and then long term winter rentals for some of the more senior folk who spend their winters there. And hubby and I would use it in between when we have to visit and then that way the family can stay with us...in my comfort zone hehehehe (cheeky laugh)

 

[Burton]

well you're lucky, because it must be worth a load of cash now. Is your brother married to a tunisian? is that why they are looking for something to invest in? When i was still living in the UK me and my girlfriends were considering investing. Glad i did not now because I would not be able to use it as often as they would. But sometimes I think it would be worth getting soemthing that could pay itself off as a summer rentals and then long term winter rentals for some of the more senior folk who spend their winters there. And hubby and I would use it in between when we have to visit and then that way the family can stay with us...in my comfort zone hehehehe (cheeky laugh)

I reckon it might be worth a load of cash now, not sure mind you. I've rented it out all these years, It's just a tiny apartment. My brother loves Tunisia! lol, he is much younger than me, he and his UK girlfriend at looking at properties with our other 2 sisters, seems Tunisia is very expensive these days!

 

[missmetal]

I reckon it might be worth a load of cash now, not sure mind you. I've rented it out all these years, It's just a tiny apartment. My brother loves Tunisia! lol, he is much younger than me, he and his UK girlfriend at looking at properties with our other 2 sisters, seems Tunisia is very expensive these days!

ahh ok, well between 4 of them it should be cost effective at least and then if they rent it out during the peak periods they can certainly get their money back. Location would be important though, beachfront would be my ideal too....I totally agree with Scottoschot on that one because then you have a better rental opportunity when you're not around. Otherwise if you're not on the beach then its likely to be rented by locals and not sure they always look after stuff that well. At least not what I saw when I saw what my husband and his mates were renting

 

[Burton]

ahh ok, well between 4 of them it should be cost effective at least and then if they rent it out during the peak periods they can certainly get their money back. Location would be important though, beachfront would be my ideal too....I totally agree with Scottoschot on that one because then you have a better rental opportunity when you're not around. Otherwise if you're not on the beach then its likely to be rented by locals and not sure they always look after stuff that well. At least not what I saw when I saw what my husband and his mates were renting

Yes that's what I reckon too MM, between the 4 of them it's not much money. this is my argument with them though, don't rent it on a temporary basis. My little place I've rented out for many years, don't make much money to be honest but it's well kept and I've never had a problem.

 

[missmetal]

Yes that's what I reckon too MM, between the 4 of them it's not much money. this is my argument with them though, don't rent it on a temporary basis. My little place I've rented out for many years, don't make much money to be honest but it's well kept and I've never had a problem.

Oh really but Im sure they would want to use it themselves as a holiday apartment, so renting it out short term would be ideal. It would also pay it off sooner, dont you think? And then you have a place to stay too

 

[Burton]

Oh really but Im sure they would want to use it themselves as a holiday apartment, so renting it out short term would be ideal. It would also pay it off sooner, dont you think? And then you have a place to stay too

Well that's what I was thinking MM. They would spend maybe 4 weeks a year, and the rest is for me.

 

[ROULLA]

Legal advice
Tunisia encourages foreign investment. Free investment may be made without authorisation, in particular for those investing in a tourist or industrial zone.

Non Tunisians wanting to buy a property in a residential zone need to obtain an authorisation from the Governor of the area where the property is located.

In practice people are still asked to submit a file to obtain authorisation to buy even if the property is located in a tourist or industrial zone. Please note that if you decide to sell the property, you are required to obtain authorisation from the Governor.

Be aware of some non-Tunisians who present themselves as foreign estate agencies but who cannot work in Tunisia. Legal advice should be sought from a local lawyer.
Taxation
When you buy a property from a registered developer, you initially need to pay 1٪ of the total purchase price. However if you buy from a private owner, the minimum is 6%.

Buying property in certain areas
Agricultural land cannot be bought by non-Tunisians but may be rented for a maximum term of three years.

Renting out your property
There is no local legislation affecting foreign landlords and tenants, only agricultural leases for more than 3 years are subject to authorisation.

Selling a property
If the property has increased in price you will be subject to capital gains tax on the profit. It is always advisable to go through this with a lawyer.

Property deeds
You will need to open a bank account in Tunisia and declare to the bank that the funds you deposit are intended for the purchase of a property in Tunisia. A “fiche d’investement” should be asked for after each transfer. Authorisation from the Governor should also be obtained. Please ensure you get the contract checked by your lawyer before signing it.

Disclaimer
This is not intended to be the only guidance to follow when considering purchasing, selling or letting a property. The FCO makes no representation as to the quality or accuracy of the information which is available at the web addresses listed in this guide, nor can the FCO accept any responsibility for the content that is hosted on them. The FCO’s strong recommendation is that prospective purchasers, sellers or landlords of Tunisian property seek independent legal and financial advice at all stages in Tunisia.