HELP ... Anyone considering TUNISIA?

[VonDanztig]

You are absolutely right on this. Before considering any type of investment you need to be 100% sure that your money can go in and out without any problems or having to use not so legal constructions. Who can show me crystal clear information on this that I can rely on?

I have been out to Tunisia one month ago and I wasn't impressed by Dunes Golf & Spa at all. Isn't it all about location, location, location? Not only is this development in a poor location, its unit sizes and quality specs are not appealing to a seasoned investor like myself. Has anybody experience with other developments in Tunisia that will tick more of our boxes?

Rudie

[Rivermead Global Property]

Here are the details of what i have been told is the process of taking money in and out. I have to say i had exactly the same concerns as i go on holiday there each year however, on reflection it is the local currency you can't take in or out. No one checks what amount of sterling or euros you take in, so there should be no problem.

Every client who purchases through us in Tunisia will receive an investment certificate from the bank where they will be sending their payments to. This will ensure that when it is time to sell the property there is a clear record of how much money was brought into the country, and naturally this entire amount can be taken out of the country with no problem.

Upon selling, the bank will withhold on behalf of the Government 10% of the difference between the selling price and the sum indicated on the certificate in terms of Capital Gains Tax. For example if you are to buy a property at €100,000 and sell in two years at €200,000, the difference of €100,000 will be taxed at a 10% level. Therefore the client will be taking €190,000 out of the country in total.

I do believe there will be some handbags at dawn over these developments between certain companies so please anyone reading anything on here please ask an authorised agent to supply the correct facts as we have the full DD report and other information.

Happy investing.

[Rivermead Global Property]

Here is an interesting article mentioning Tunisia from the Sunday Times, well done all you that have already bought you obviously knew what you were doing and bought in a country with a booming economy. Another $30 Billion won't do any harm either

Where on earth can you make a decent return?

[Lsab]

I've only just seen this. Interesting reading Neil, thanks for posting the link.

[jackfrench]

Hi Vondanzig
Thanks for your opinion,I have not yet visited Tunisia or the Dunes complex,and i am interested to know why you were not impressed by the specifications of this development.On paper they look very good to me and more than acceptable..
I understand you are a seasoned investor so why in particular did they fall short in your view ?

[Rivermead Global Property]

I am off to Tunisia on holiday on Sunday and will be visiting the site of the Dunes Golf and Spa Resort. Are there any particular photographs anyone wants me to take and post on here? I will get some of the site and see if i can into the show apartment.

[Rivermead Global Property]

Hi All, i have just returned from Tunisia and i have to say i was very impressed with the finishing on The Dunes, it is top quality. I walked from the Marina/Golf course and it took me 40mins however going back i got a taxi to see how much it would cost and it was less than £2.50 so as far as location is concerned very good. Yes it is further out than the big hotels but that is the way the resort is spreading as all towns/resort do to keep up the demand for accommodation. The hotel i was in was very busy and there were lots of people in the resort of EL Kantaoui with the golf courses full.

The actual show apartment is not next door to The Dunes, it is part of it. The front where the shops are with apartments above, there are lifts at each side of the building and each hallway has a fantastic mosaic picture among the marbled floors. I have put some photographs below of the front section, it really is the best building along the road and really stands out. The beach is about 200m and once cleaned up will be excellent with shallow water for children.

[Tunisiacom]

Hi everyone this is Kris nice to see conversations about Tunisia if you want to ask any questions please fire away!

Although I have a website about Tunisia I try to be as impartial about Tunisian property as i can be, I travel the coutry and work out here full time so hit me!

[Tunisiacom]

Originally Posted by flip

What are the starting prices of property here???

How long is a piece of string Tunisians are very location specific and all prices are expensive compared to rental yeilds historically 5% now sub 3%.

Tunis and touristic areas,

Houses 230-3,500,000 dinars

Apartments 120,000- 400,000 dinars

Regional Cities

Houses 150,000-1,000,000

Flats 60,000-250,000

All prices /2 for £ values

However hold in mind cheap places re cheap for a reason ie temp roads poor connections.

[Tunisiacom]

Originally Posted by teepeeseller

I'm interested in finding out more - Who is offering any finance on Tunisian properties?

This is the difficult bit and I would assume that working in Tunisia aside financing would be arranged by the developer as they would have an arrangement with a bank.

Applying for most things in Tunisia is a pain untill they overhaul the system.