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Tunisia, site of best opportunities for real state investment

TUNIS - Tunisia, which has set for itself as a target, in the presidential programme, "a better quality of life in more pleasant cities," seeks to guarantee to all Tunisians, wherever they live, a decent and suitable social housing.

Performances achieved in this area have earned Tunisia the consideration and recognition of Arab, African and international spheres.

According to a recent study conducted by the International Real Estate Investment Gambles (2009), an international counsellor in property development, Tunisia was ranked fourth in the world as an emerging and stable economy offering the best opportunities in real estate investment.

Other evidence of Tunisia's performance in housing, the award for the best property loan company in Africa granted in October 2008 to Tunisia's " Banque de l'Habitat " ( BH ) by the African Banker Awards association.

This institution, which has funded, since its inception in 1974, nearly 60% of homes in Tunisia, is sought for the creation of banks specialised in property loans in Africa, particularly in Sub-Saharan Africa.

In terms of real estate development, an activity which is currently booming, the State has set up a range of incentives for Tunisian and foreign investors for the creation of infrastructure and housing projects.

Mechanisms and programmes established to this effect were quick to bear fruit. The rate of Tunisians owning their homes is estimated, according to the latest population census, to 80%.

Another indicator of progress is the quality of dwellings which has steadily improved allowing to increase the rate of rudimentary dwellings to nearly 0.8% of the total number of homes.

Tunisia intends to move forward in its achievements and make the most of the 11th Development Plan (2007-2011) to consolidate these gains.

In figures, the number of homes built in the 10th Development Plan (2002-2006) is estimated at 255,407.

This figure will be revised upwards, according to the forecasts of the 11th Development Plan (2007-2011), to reach 300,320 dwellings.

The five-year Plan (2007-2011) provides for the building of 300,000 residential units with investments of 10,100 million dinars (200,000 units) to meet the additional needs, 10,000 to ease congestion and 30,000 to replace old dwellings.

Planned programmes and projects will take into consideration the various socio-economic, land and urban aspects.

The strategy to be adopted in this framework is based on six major axes. They are, increasing the offer of constructible lands, increasing the offer of new social dwellings, revising and adjusting the housing funding system (to facilitate access to credit for all social classes), eradicating what remains of rudimentary dwellings and preserving at the same time the existing land heritage.

© Agence Tunis Afrique Presse 2009