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Tunisia: new kid on the block

Tuesday, August 26, 2008

Source: Catherine Deshayes

Tunisia's new legislation allowing for the transparent freehold ownership of property by foreigners has pushed its unexplored property market into the spotlight.

Due to its Mediterranean climate and new laws, Tunisia could become a sought after Mediterranean destination for international property investors.

Prices are still relatively low, as the market is still emerging, and, with the tourist industry booming, investing in a property, especially in a popular location such as Djerba, Monastir and Hammamet could provide a solid rental return.

Historically, Tunisia has preferred to focus its internal efforts on reforms to introduce political pluralism and stability, and to boost and reinforce the economy.

Now, its property based economic sector is far healthier, and it has been ranked the most competitive in Africa and the Arab World in the Global Competitiveness Report from the World Economic Forum.

The International Monetary Fund also predicts solid GDP growth in Tunisia for the coming years, with predictions for the nation's growth one of the highest in the Mediterranean region.

Tunisia is easily accessed from Europe, with daily scheduled flights from the UK. Tunisia is currently negotiating an Open Skies Agreement and there's speculation that cheap flight operators such as Ryanair will follow - should this come to pass this will be yet another massive boost for both tourism and property market potential.

Golf tourism is another high-end area being actively developed, with five courses coming to completion across the nation's key resorts in the coming five years.

For more information about Tunisia then tune in to the new series of Uncharted Territory on Real Estate TV (Sky channel 262 and on demand at www.realestatetv.tv) on Monday 6^th October at 9.30pm as presenter Juliet Morris and buildings surveyor Graham Barton follow two property pioneers looking to buy a holiday home in the pretty Northern Tunisian town of Ghar El Melh.

To browse a range of properties in Tunisia, visit www.themovechannel.com/property/Tunisia/