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21 Oct 2008

Holidays To Tunisia Driving Property Boom

holidays tunisia property boom


Year round golf, boutique hotels, 1,100 kilometres of Mediterranean coastline with pristine beaches are just some of the factors behind Tunisia’s increase in tourism revenue of 11% so far this year. Millions of holiday makers holidayed there, mainly from the euro zone seeking a bargain getaway this summer. However, the Tunisian government has set their sights on attracting the wealthy Gulf and Chinese travel markets encouraging inward investment for master planned leisure resort developments.



"Tunisia is already a popular destination for thrifty package holidaymakers but as they become increasingly independent in their travel plans as we have seen with Spain and Greece, many of Tunisia's visitors are now seeking out self-catered accommodation" says Chintan Mahida, online property advisor at Nubricks.com. "Anyone with an apartment to rent in Tunisia, be prepared, holiday makers are coming your way!". People no longer want to be piled into high rise hotels along Hammamet and Port El Kantaoui-Sousse, they are longing to discover a different side to Tunisia has on offer.

Since the Tunisian government’s reforms, both economic and legislative, foreign investment has risen dramatically, by 60% during the first quarter of 2008. In particular, real estate companies have spotted an opportunity to take advantage of the well established tourism industry which is set to average annual growth rate of 4.3 per cent during the next ten years.

Projects include Century City and Mediterranean Gate developed by real estate company Dubai Holding, Sama Dubai, who are investing $14 billion in Tunisia. They are planning residential districts, seaside resorts, and luxurious hotel complexes, and multidisciplinary buildings, quays for yachts as well as sporting and cultural spaces. Other investors’ projects include an integrated modern city, a golf course as well as nine sporting academies dedicated to football, volley ball, basketball, handball, tennis, swimming, athletics and other disciplines.

Having learnt valuable lessons from its neighbouring countries Egypt and Morocco, Tunisia is fully prepared for its current role as a real estate hotspot for both those buying for investment and those buying for pleasure.

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