Tunisia is a truly magical land, but the Tunisian market is slowing down . This sunny land, with a deep tradition that fascinates all tourists, is experiencing a stalemate, exactly since 2019. But what is the reason for this problem ? Despite the boom in tourism in recent years, there are few investors. A sort of paradox, which, however, deserves special attention.
Therefore, we have decided to dedicate our mini column today to this topic, both for potential investors, but also for those who are curious to know more and to find out more about the world real estate. So, if you are ready, let’s discover how the Tunisian market is slowing down. We can get started!
The tourism boom in Tunisia was already recorded several years ago. And it is not surprising how it was possible. The natural beauty of the place is simply the perfect setting that has attracted tourists from all over the world. The world famous archaeological sites, a past still present, the colors and traditional costumes, however, seem to be not enough for potential property owners. Why not?
The facts speak for themselves. Already during 2018, the national price index increased. Tiny. But that started a boomerang effect. Until prices were very high. Demand is currently falling, and construction activity is extremely weak. Only now is an attempt being made to recover the situation. So much so that prices have plummeted again. The only paradox, however, is that prices are strange. The prices of apartments have fallen, while those of studios have increased.
Let us now see the statistics that have characterized the Tunisian real estate. The variations have also been wide at regional level. The region that recorded the main increase in real estate prices in 2018 was the Middle East. In the opposite area, there was a simultaneous collapse. Demand, in this case, collapsed, generating an annual drop in prices of 13 % (2018).
House sales fell by 40 %. A truly frightening percentage level, which does not leave potential buyers indifferent. The latter, discouraged by the situation, decide to opt for better markets. More secure. Although less attractive.
Assuming that a foreigner cannot buy land in Tunisia, but only houses, the situation is as follows. However, the economy has grown to a positive trend since 2017. But the real estate sector has not been absorbed by this wave.
GDP, however, should improve further, given the positive numbers recorded at the beginning of the year.
Basic rents in Tunisia start with USD 150 per month, up to a maximum of 2,000 (depending on the level of luxury). The lowest are in Ben Arous.
Will Tunisia be able to recover ? To find out, stay up to date on our portal !
Read also: Property for sale Tunisia
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