Tunisian Property Market Offers Real Incentives To Buy

By Overseas Property Live • February 12, 2009

How many nations would like to swap shoes with Tunisia right now? Economies across the globe are falling sick from toxic debt but Tunisia has its coated in Teflon. With a ‘closed currency’, that is to say one unable to be traded freely on the open market, it has remained immune from economic turmoil and GDP is in fact set to grow from 5.1% in 2007 to 6.3% in 2008. Tunisia’s property market is booming and secure.

Andy Welland, Managing Director of GEM Estates, comments, “Tunisia has every right to feel smug and has so much going for it in terms of property investment. Apart from escaping unscathed from global economic meltdown, it’s attracting tourism and foreign investment from across the globe, in particular the Middle East, thus creating a pent-up demand for property. An affluent home owning population as high as 80% adds yet another exit strategy for investors. Property prices are low, even as low as Morocco was five years ago, yet it boasts an impressive infrastructure of luxurious hotels, six golf courses, modern international airports, chic boutiques and jet-set marinas. And, when the Tunisian dinar finally becomes ‘open’ or convertible at the end of 2009, local banks will be prepared to offer mortgages to foreign buyers. This African nation is certainly one to watch.”

GEM Estates is promoting The Dunes Golf & Spa Resort which is on the doorstep of Port El Kantaoui, Tunisia’s most exclusive purpose-built marina resort, and between two of Tunisia’s busiest airports – Tunis and Monastir. The Dunes Golf & Spa Resort’s developers have recently announced some recession-beating incentives to encourage purchases.

All reservations prior to 31 March 2009 will automatically qualify for a complimentary air-conditioning unit installed upon completion. Additionally, anyone wishing to take the three hour flight from the UK to Tunisia to view the resort will have their accommodation in a four or five star hotel paid-for for up to three nights and two guests. This of course only applies to guests who commit to viewing The Dunes Golf & Spa Resort as part of a pre-arranged trip. A perfect way to discover what’s in store for the resort.

Comprising studios, one two and three bedroom apartments, The Dunes Golf & Spa Resort fronts wedding-white sandy beaches and has five star on-site facilities to include a Thalasso Spa centre with indoor swimming pool, sauna, gymnasium, Turkish baths and massage and treatment rooms. Or perhaps you’d prefer your massage al-fresco on the private beach exclusively for residents. Fully gated, The Dunes Golf & Spa Resort offers 24-hour security plus concierge, restaurant, snack bar, convenience store, bank and bakery. The on-site rental management company will help to maximize rental yields, forecasted as high as 14% per annum, charging a nominal 10% fee.

The freehold properties themselves are finished to top European standards with Italian-style kitchen with appliances, fine Tunisian marble flooring and satellite television with over 5,000 channels. Two outdoor pools, one suitable for children, a poolside cabana bar, whirlpool Jacuzzi and underground parking complete the offer. Laundry and cleaning services are available for as little as one euro per hour whilst a showflat is in place ready for viewing.

Off-site owners at The Dunes Golf & Spa Resort can avail themselves of a 20% discount at Port El Kantaoui’s golf courses whilst watersports from diving to fishing and boat excursions are available in the year-round sunshine. Many restaurants offering local and international cuisine, traditional and Medina shopping plus water and theme parks as well as camel and horse riding are all very accessible.

Prices at The Dunes Golf & Spa Resort start from €28,900 euros for a studio apartment and payment terms are €3,000 reservation, 50% on contract and 50% on completion scheduled for January 2011.

News submitted by Sarah Drane, GEM Estates