Tunisia: Real estate market unstable

The real estate market is currently extremely unstable in Tunisia, with prices up at resorts popular with international tourists and low in orther areas, according to a report by Aguslmmo.tn. The real estate market has traditionally tested the interest of foreigners to invest in the North African country, especially in seaside resort areas where the housing market offers interesting opportunities . In a comparison of real estate prices in different areas, the study revealed that some resort areas have registered a significant price hike. The most significant was recorded in El Maamoura (in the Nabeul governorship) where from January to June prices went from 675 dinars per square meter (some 413 euros) to 825, up 22 percent. Prices also rose 12 percent in El Kantaoui (2050 dinars per square meter), 10 percent in Sousse (1100 dinars), 8 percent in RafRaf Place (700 dinars), and 5 percent in Monastir (1125 dinars) and El Mehdia (1050 dinars). Other beach resorts however did not register the same significant hike in prices and have instead seen prices go down, possibly attracting new investments in the future, including Djerba where prices went down 8 percent (1500 dinars per square metres), El Mrezgua, down 7 percent (1350 dinars), and Nabeul Ville, down 2 percent (1200 dinars). Analysts believe a reason could be political instability in neighbouring countries and the rising attention of Algerian investors towards Spain.(ANSAmed).