The time to invest in Tunisia could not be better. Considered to be the one of the most stable countries in the Arab speaking world, and certainly the most politically and economically stable country in all of Africa, Tunisia is a founding member of the World Trade Organisation and has a trade association agreement with the EU. The Tunisian people have strong links to Europe and consider themselves to be more European in nature than African or Middle Eastern. Within two hours flight of the capital, Tunis you are able to reach most established European capitals whilst flight times to the UK are just under 3 hours. A stable currency and consistently low inflation levels below 3% have helped to place Tunisia in a great position to benefit from direct foreign investment which is currently pouring into the country.

 

Infrastructure and transportation to and within and the country is excellent as Tunisia offers 7 international airports ensuring that no matter where you are in the country you are never further away than 2 hours from an airport. The largest airport in Northern Africa is currently under construction in Tunisia scheduled for completion in late 2009 which will offer cheap and inexpensive flights with carriers such as Ryanair and Easyjet. Within 10 minutes drive of this airport, the largest deep water port in the southern Mediterranean is also being built enabling the globe’s biggest trade ships and cruise liners to dock in Tunisia.

Tunisia is a country which surprises visitors. A middle income country, it has a stable political and economic environment, suitable for foreign investment. Foreign visitors are also surprised to see constant change, as the entire country rapidly modernizes. Cities like Sousse, Carthage, Matmata, and Mahdia continuously attract tourist crowds for long Mediterranean beaches and ancient Roman ruins. In spite of this, Tunis remains to be the financial capital of Tunisia. A record 6.5 million tourists visited Tunisia in 2005, mostly from Europe. The tourism sector grew 7.6% in 2004 and 7.5% in 2005. The French market with more than 1 million tourists a year rose 21%.

Most real estate properties in Tunis are new developments that sprang alongside with the consistent economic growth of Tunisia. Moreover, the construction industry is booming with many new townships and subdivisions being built countrywide. Foreigners are allowed to purchase real estate in Tunisia.

Until recently, Tunisian government officials discouraged investment in the real estate sector. Nonetheless, this policy seems to be being relaxed, though all real estate transactions are still subject to approval.

 

The Republic of Tunisia (pop 10.1 million) is considered as one of the most stable countries in the Arab region. It is more Mediterranean than Arab in nature. With its prime spot in the Mediterranean coast, it serves as a gateway between Africa to Europe, especially France. GDP per capita is around US$3,148.

Tunisia gained its independence from France in 1956 under President Habib Bourguiba, and has consistently pursued secular policies. Tunisian women have long had full legal status; including the power to run and own businesses, own bank accounts and passports, to transmit citizenship if married to a foreigner. Polygamy has been abolished and free education is compulsory.

With the accession of President Zine El-Abidine Ben Ali through a bloodless coup in 1987 (he recently won another term in April 2004), Tunisia’s economic policies are more than ever geared towards liberalization and participation in the global market.

There has been consistently low inflation (the average annual rate of inflation 1994-2003 was 2.67%), and a strong tourism and manufacturing sector. Tunisia acceded to the GATT in 1990, is a founding member of WTO, and has an Association Agreement with the EU.

The Tunisian economy is opening up and welcoming foreign investment and bank institutions. A number of French and Italian banks are already present in Tunisia as well as Banco, Santander, the Spanish giant and parent company of Abbey National. The Tunisian currency, the Dinar, is expected to become fully convertible by 2010 in line with EU agreements on free trade. As a result mortgages will become freely available to foreigners as currently only Tunisian nationals can obtain finance in Tunisia.

Due to the very low property prices in Tunisia, finance can easily be obtained from UK lenders even on an unsecured basis. Jood Investments and the developer work alongside a number of lenders enabling our clients to rapidly obtain finance in a convenient and hassle free manner.

With prices starting from £20,000 or as little as £75 per month anyone can own their own dream home on Tunisia’s Gold Coast. For more information on personal loans please consult your IFA or mortgage advisor